Marketing

Primary Activity of Marketing:

photo6Marketing means Business. Its Primary activity is to identify Revenue Opportunities and secure them by designing and communicating offerings that have Value for customers. Marketing is a creative discipline that aims to satisfy Customer wants and anticipate their future needs so as to influence their wants before meeting them: so, there is no mystery and there is nothing scary about Marketing.

Marketing Goals:

Marketing and Sales have the same goal but they have very different roles, they work in very different timescales and they employ very different mindsets. Marketing is the strategic element in the sales process and its job is to facilitate the Transaction. This means designing the corporate wherewithal to focus the salesman and the customer on the benefits of the Supplier’s proposal.

The Marketing goal is to evolve the offer and improve the quality of the interactions between potential customers and the company. The Sales goal is to increase the conversion rate and close the deal.

Both are vital elements in the ETO commercial process and they need coordination: but Marketing facilitates the Sales process.

Marketing Function:

Marketing is a holistic function that draws on the social sciences; psychology, sociology, economics, philosophy and anthropology and it exists in an environment coloured by politics. However, it is much more than an intellectual indulgence. Many Marketing Executives lose sight of the primary objective, which centres on revenue-raising, because they focus on establishing flamboyant programs that are divorced from the reality of satisfying Customer wants and meeting the Client’s top line requirements. This is the fundamental pitfall in most Marketing initiatives.

What is nearly always forgotten is that the Market is the only source of revenue for any Enterprise and the only way to address that source is with a Product or a Service. Customers deal with Suppliers who satisfy their wants: so the purpose of Marketing is to facilitate transactions that makes Selling easier. This is best done from a focused orientation and a sound understanding of the theory underpinning the practice.