Increasing the perceived value of the product. The more a consumer is willing to pay for a product, the higher the perceived value of the product. It depends on how successful the branding and advertising campaign is, how obvious the benefits and advantages of the product are.
Market analysis and selection of target sales markets. It is necessary to constantly monitor the dynamics of the market, the behavior of competitors, and key players. Market analysis will allow identifying new niches, responding in a timely manner to the actions of competitors, closing stagnating areas, and developing the most profitable and/or dynamically growing ones.
Working with consumers. This includes examining the needs of potential buyers in the selected target market, values, buying behaviors, reasons for rejection, and the perceived value of existing brands in the industry. This information is the key to the correct segmentation of the market, the selection of the target audience, and the elaboration of a competent advertising impact on the consumer. The second part of working with consumers aims to increase customer loyalty, which allows you to increase the frequency and volume of purchases.
Development of an optimal strategy and principles of competition, leading to increased sales and increased competitiveness of the product.
Assortment management: managing the breadth of the assortment, setting prices for goods, and controlling the profitability of each product and direction.
One of the first incarnations of the marketing strategy can be considered a Japanese shop of the Mitsui clan, opened in 1690 in Tokyo. In this store, Mr. Mitsui had a sales policy that was about 250 years ahead of its time. For the first time in the history of trade, the store owner was guided by his customers, buying only what was in demand, providing a system of guarantees for the quality of goods, constantly expanding the range of goods.
Marketing appeared in the West in the middle of the 19th century. Cyrus McCormick was the first to define marketing as the centerpiece of the enterprise. It was he who created such marketing areas as pricing policy, market research, service.
The first courses in marketing began to be taught at the University of Illinois and Michigan in 1901, so the USA is considered the birthplace of modern marketing. Nowadays, it is customary to distinguish five main marketing concepts replacing each other.
The first of these is the concept of improving production, which existed from 1860 to 1920. At this time, enterprises tried to reduce the cost of goods, improving production methods. The emphasis was on high productivity, product consistency, and low cost. This technology remains relevant for low-competition markets.
The next concept is called the concept of product improvement (1920-1930). Even the most developed companies in Europe paid all their attention to the production of quality goods, taking it as an axiom that "a quality product will sell itself." This period is most vividly characterized by the famous phrase of Henry Ford: "Consumers can have the color of the car that they want, as long as it remains black." Most manufacturers believed that making the best product was enough to beat the competition. This approach had several problems. One of them is this: even the best product is not always the best solution to a problem. For example, you can use mousetraps to fight rats, but even the best mousetrap will not be as effective as rat poison. The concept often leads to unnecessary product improvement,
The concept that existed in the 1930s and 1950s, when markets were oversaturated, is called the sales improvement concept. The essence of the concept boils down to the following: the consumer will choose the product that will be sold to him best. Manufacturers had to take care of establishing a sales system, because, firstly, production volumes grew, the market received more and more products from different companies, and, secondly, it was required to convince consumers of the value of new, unusual products. A famous quote from William Pitts, chief of engineering at the British Post Office, illustrates this problem: “Americans need a phone, but we don't. We have a lot of messenger boys.
The idea behind the concept of traditional marketing (the 1950s-1980s) was to satisfy the needs of consumers: "Produce what you can sell, instead of trying to sell what you can produce."
Companies are beginning to focus on consumer demand, sales are becoming a means of communication, communication, and consumer research. Marketers work with product engineers to identify consumer needs and try to satisfy them. Market orientation helps to quickly achieve financial success, consumers are eager to accept new products. This concept is still used by many companies today.
Somewhat later, in the 1980s-1995s, traditional marketing is supplemented by a socio-ethical component that imposes restrictions on production, sales, etc. This includes bans on the sale of goods harmful to health (drugs, alcohol, low-quality medicines), bans on production that has a negative impact on the environment, collection of personal information about consumers, and the like. According to this concept, the consumer will choose a product that best meets his needs and at the same time improves the well-being of the whole society. A company becomes successful in the market that realizes the importance of close cooperation with all intermediaries involved in the development and sale of its goods.
The concept, which includes marketing from 1995 to the present day, is called the concept of interactive marketing. A characteristic feature of this concept is the desire of marketers to maintain stable relationships with consumers, suppliers, and competitors, which will help maintain and improve the company's position in a highly competitive environment. Remarketing is starting to be actively used - repeated communications with consumers. Typically, remarketing manifests itself in the repeated display of advertisements to people who were interested in the offered services or products but did not purchase them.
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