Introduction
Marketing is an essential part of success for most modern companies. It is the primary tool a company has that can affect the perception of the company and its products by consumers, and so it significantly contributes to the popularity of a product or service, especially with regards to its initial reception by the target audience. Understanding the essentials of marketing and correctly implementing them is necessary to managing a corporation.
Main body
There are many competing definitions of marketing, and no single one can be described as superior to all others. The key aspects of most of these are understanding the needs and concerns of consumers and other involved parties and the appropriate measures to address them (Tomczak, Reinecke, & Kuss, 2018). According to Folinas and Fotiadis (2017), customers worry that the firm may be dishonest with its claims and that there is no guarantee for success and future support of the product.
Therefore, companies should engage consumers in their processes for the marketing to succeed, allowing them to see the workings of the company and be convinced (Palmatier, Kumar, & Harmeling, 2018). Other interested parties tend to work with the company and have detailed information, and so customers should be the primary focus of quality improvement initiatives.
Conclusion
Marketing is vital to the continued operations of a firm and the success of its new products. While there are many definitions, the primary focus of the activity is interacting with groups that are related to the company but outside it and convincing them of the value of a product. As such, when the fact that parties such as stakeholders already have access to the extensive information about the company is taken into consideration, marketing strategies should concentrate on targeting consumers and alleviating their doubts.
References
Folinas, D., & Fotiadis, D. (2017). Marketing and supply chain management. Abingdon-on-Thames, United Kingdom: Routledge.
Palmatier, R. W., Kumar, V., & Harmeling, C. M. (Eds.) (2018). Customer engagement marketing. Cham, Switzerland: Springer.
Tomczak, T., Reinecke, S., & Kuss, A. (2018). Strategic marketing: Market-oriented corporate and business unit planning. Wiesbaden, Germany: Springer Nature.