Marketing is the term used when there is a conversation or interaction occurs between a company and the consumer audience, whose sole motive is to enhance the value of the product in peopleâ€™s mind. The primary purpose of marketing is to introduce receptive consumers with behavioral changes going around.
As perAmerican Market Association, â€œMarketing is considered as the activity that consists set of institutions along with processes tocreate, communicate, deliver and exchange offerings that have value for different personals that include consumers, clients, society and partners at large.â€
It is not as simple as it appears according to the definition, it is important to study marketing in an organized manner. Otherwise, it is going to trouble for the rest of the lives. Marketing in a primary sense is applied everywhere. It does not matter in which stage of life you are, marketing will always be a crucial tool in getting things done. Right from school assignments to a job interview, you will need specialized skills to manage the particular situations.
What are the different levels of management?
Management is divided into three broad levels, First-level, Middle-level and Top-level management:
It is the basic to the management systems. Controlling and directing are the main components of this level. Foremen, Supervisors and Section Leaders are the base pillars of a first level management system. They assign a task to the employees and keep track on the completion of assigned work on daily basis. They also channelize employeeâ€™s common problems to their seniors and respond with results.
The personnel of this management levels are a department, branch and general managers. They are appointed by top level management to execute companiesâ€™ policies and plans in an organized manner. They also serve as a link between the first-level and top-level people.
They are the Executive and non-executive directors of the board organized. They are also the CEOs Managing Director, Vice president and president of their respective company. In short, they are the think tank of the enterprise and make mutual decisions for the betterment of enterprises.
Is marketing sector confusing and hard to understand?
Obviously not! You need to erase the concept in the beginning stages, and for the rest of your lives, you are at peace with fundamental marketing concept. Thoughts arise only when there is a need for it, and with changing time, demand also changes so does the concepts.
Basically, there are five concepts one need to know:
- Production Concept:
It is more operation oriented than any other concept, based mainly on productâ€™s availability and inexpensiveness.
- Product Concept:
It is based on detailed information about the nature of the product, like its quality, creativity and value.
- Selling Concept:
It defines that consumer only buys a product which has aggressive promotion or selling. Unfortunately, it does not fit in todayâ€™s era.
- Marketing Concept:
A Selling concept is now dependable on marketing; this has got the full potential to transform productâ€™s face value.
- Societal Marketing Concept:
It works as per the needs or wants of our society, delivering exactly what you wished to have at competitive prices.
What is the critical element in the market sector?
Market Research is a critical element in the market sector. When any organized effort is being made for gathering information of target markets or consumers, it is said to be well planned, efficient market research. It is a very important component of strategy making body and is also responsible for maintaining the competitiveness over different competitors.
Market Research is helpful in analyzing the market need, market size and market competition level. Research is only conducted with the help of Qualitative and Quantitative tools, such as focus group, detailed interviews, ethnography, customer survey, etc.
How can one avoid confusion?
Confusion can be avoided with the help of management studies only, what we meant is, if you study management in a standardized way. You will develop particular skills to combat confusion and anxiety. The skills you are going to learn are as follows;
- Controlling, that entails you to keep track on your current actions and progress made so far.
- Coordinating, if you learn to coordinate things properly, nothing in this world is going to be difficult for you. You will end up connecting yourself or someone else to the deserved place only.
- Commanding, this will gradually develop with experience. Once you can command a particular scenario or get people to do the job, you have become a real management guy.
- Organizing is the ability to manage events with much ease. It ensures that there are people to get things done. Right person on right place is basically what organizing
- Planning is another ability to make secure plans about the future. It entails developing strategies as per the required scenario. All big things happen with small plans and small steps.
- Forecasting is the ability to analyze what is going to happen in the future and make moves accordingly.
What are the benefits of E-learning?
E-learning is a trendy and hot topic, obviously for some good reasons. It can produce great results by minimizing the cost and maintaining its efficiency. E-learning courses stimulate static learning as well as active participation in ongoing discussions in network communities.
The learning process here differs from one-time classroom sessions; here you can access to the same topic numerous time, unlike classroom learning. There is no fixed timing; you can learn whenever you want to.
There is no boundary or limitation, scope to acquire information is way beyond your local radar. E-learning is relatively more flexible and dynamic than typical classroom session.
Some management tips that might help you in future:
- You can use the personal approach to solving difficult situations in daily work. You can make a connection with employees not by showing your authority or power rather respecting them as a human being, aware of their likes and dislike, and treat them the way you want to be treated.
- Always be open to constructive criticism; there are different kinds of people, so is their criticizing habit. But listen carefully to only those who have logic with their harsh words and also you are satisfied with their logic. Never channelize your anger in the wrong direction.
- Destroy the barrier between you and your employees. Be open and available to them. Always try to offer guidance, assistance and direction as heir manager. Encourage them to ask questions and try to give answers with simple and to the point reason.
- Always advice something that you already believe in. For example, if you say smoking is bad, and after lunch, you had a couple of fags; that will not be acceptable to anyone. And if you keep on doing this, dignity and integrity might get lost soon.
- Encourage your employees to improve themselves, along with work ethics also offer them some etiquette that might eventually help in personality development. Allow time for them to take online classes that will give them new skills they need. This will not only enhance their productivity but also efficiency.
- Offering incentives and extra perks to employees will surely ease the role of a manager. Induce craving for promotion in them to get your job done efficiently.
After reading all these things, I think that studying management is going to be a lot easier than it was before. Hope you have enjoyed reading and made notes wherever possible!