The term marketing is often perceived by many as the act of selling products and services. However, it is not just that. Marketing refers to the act of conveying the value of a product or service to the customers. Selling an article or service is just one of the various fractions of marketing. Marketing has not been in existence ever since the inception of business. Earlier when businesses had no competition, the term didn’t exist as such, although the practice of marketing did. With the increasing competition in the market, marketing has emerged as a gigantic concept and field of practice. In the present scenario, marketing is of great significance in businesses.
The marketing strategies adopted by business units too, have changed over time. Earlier, till late 1950’s business units adhered to a marketing approach focused on production. To bolster profit, they would increase production to the maximum attainable level. Later business units started focusing on Product quality. It was believed that till the time the quality of product is good, no matter what, the business will thrive. Later businesses started implement sales focused marketing strategies. In this marketing strategy businesses would focus on selling a product in multiple ways. In the present scenario marketing strategies are mix of all the above mentioned strategies and in addition to that business units make use of some more advanced techniques. Below are some of the effective marketing strategies of today-
1. E-commerce: Present world is technologically advanced. Internet has emerged as a very effective tool for various purposes and marketing is no different. Organizations use e-commerce websites to run their business online. Consumers can go through the products’ and services’ images and description and buy them online. This helps even small business to operate across the globe. Besides the web portals businesses also use international payments structures to manage the funds. A software called Sage International Payments is very famous for this regard, one can learn how to use the software in few days with the help of a Sage training course. Perhaps this is the reason why this particular software is so famous.
2. Social Media marketing: Social networking websites have emerged as effective tools of marketing quite recently. Millions of people around the world spend time over various social networking sites. Business groups saw this as an opportunity and have started exploiting it. They use various strategies to engage target audience, keep them informed and bolster profit. Social media is one of the most effective modes of marketing, effective yet cheap.
3. Customer Relationship: Business now-a-days pay a lot of emphasis on customer relationship. They do everything possible to build and maintain good relations with the existing and potential customers. Many business organizations use various CRM softwares for managing the customer relationship effectively. Most of the small to midsized units use Sage CRM as it s one of the very efficient and economic software. Another that adds to its wide usage is that any new employee can be taught how to use the software inn just a few days with the help of a Sage eLearning course focused on CRM.