Do you want to enter in marketing sector? Want to become a marketing expert? Then you must know these important functions of marketing before you even think about entering the marketing industry. Kassem Mohamad Ajami says these components always help the marketer to make the company succeed. Practicing or by acknowledging these functions can be very beneficial for your career and future as a marketer and you will understand the basics of marketing in no time with help of these components.
In this article, we will list the 5 most important functions of marketing and try to explain the importance of these components.
What are marketing functions?
Marketing functions are the components which are very important and every marketer practices these in their career. According to Kassem Mohamad Ajami designing the marketing campaign is a stressful task and these functionalities has the set of responsibilities to design the marketing campaign easily. There are top five marketing functions that are globally accepted by the experienced marketers which are not just helpful, but also very easy to learn. The functions are:
- Product management
- Marketing information management
Thesefive marketing functions are important because each of them represents a category of tasks that are needful in marketing. The primary goal of a marketing campaign is to promote and sell products in a competitive marketplace. These functions will help you in understanding the purpose of marketing and strategies, which tool to use and what is the process.
So, here are the five marketing components with their benefits explained.
Kassem Mohamad Ajami says promotion is basically educating your targeted audience about your brand and its new or existing products. It increases the chance to introduce your product to a new group of targeted audience which eventually leads to sales and more growth in business. This function includes the multiple form of promotion and marketing experts have defined all the different forms to a particular business, audience and products. Promotion may include all the below mentioned forms.
- Organising Events
- Social Media Promotion
- Email Marketing
- Public Relation Functions
- Content Marketing
- Partnership with different brand
- Influencer Marketing
- Email Marketing
All these different forms can be used by anyone depending on their promotion strategies, location and targeted customers. These all will generate the excitement about your brand in the market and generate more conversions and will open new gates for conversations.
According to Kassem Mohamad Ajami product Management is one of the crucial functions because it includes the designing, development of the new product and improving the existing product or services. Since product is the only things which will landed in your customers hand so it needs to meet the expectations of the user’s end. This category also includes the examining the visualization, usefulness and how it will be delivered to the customer’s end by the company. Few of the Product management strategies are:
- Communicating with your targeted audience –This practice will equip you with the ongoing flaws and unusefulness of your already existing products and with that information, you can improve the quality of your products in future.
- Analysing your competitors – Doing the research about your competitors and analysing them will grant you the information about their strategies and their USP’s. Which will eventually help you to design your product which surpasses the needs of audience and your competitor’s product in the market.
- Implementing feedbacks –It is very important for marketing guys to keep an eye on the feedbacks of their users because their insight will help you to improve the production process. It will be more accurate and beneficial if these feedbacks are from both sides, inside and outside to ensure the maximum outcomes.
- A complete Market research – Conducting research in market for the similar product or services will help your marketing team define a targeted audience and designing the campaign according to that. This will also help you in quantifying what best you can do with your product and service to increase the appeal of audience towards your brand.
- Other department co-ordination –If you will collaborate with the other department of the company who are responsible to production of product or deliver the services ideas, will help you in generating new ideas for the distribution.
Generally, marketers of a company or the company itself at the time of finalizing the price of a service or products keep in mind the targeted audience perception and the actual cost of that product. But this is not just that, you also have to do market research on the prices of your competitors or similar product’s price which are available in the market because if the consumers are getting a better price in the market, the quality of your product will least excite them.
Price is the most crucial criteria which a customer compares at the first base because they are paying for it. Putting a high-end price for any product or service will also make your consumers to make the customer to expect more than any of other competitors in your market. Your production team can definitely help you in finalizing the price.
Marketing information management
This Function totally based on the data. It is known that the more you will spend time out there in the market and doing the research about the customer’s behaviour, other products and current market trends, the stronger your strategies will be.
All this data or you can say the information, is a gold mine for you and it will be useless to keep them away from you, you can have their benefits. Also, it is also overlooked by most of the marketers to collect all these data and share them with the other department which are responsible for the services or products creation, but trust on this, it is very much useful thing to when you talk about the marketing information management. Sales team will have the enormous benefits with all these things if you share with them. For example:
- See what competitors are planning to launch new
- Talk to the consumers directly
- Identify the latest industry trend
Now, you must be wondering, isn’t distribution is the part of supply chain management. Yes, you are absolutely correct but, where you sell your services or products and the chain which puts the final thing in customer’s end, isn’t all that a marketing problem. It does not matter if the distribution is physical or digital.
This is the basic thing that the marketing department and supply chain department comes together whenever the company is launching a new product or service and when the promotion campaign is launched. If you want to have the maximum benefits of any campaign, then these all departments have the work together.
There is a saying in the market that – Whenever you are planning to launch a next big thing in marketing campaign, do not leave your distributors and supply department in the dark. If you are joining the marketer’s network, then you should memorize this saying and see its benefits by your conscious mind.
All these marketing terms of you can say functions, you have to learn them you have to practice them with consistence to be a successful marketer like Kassem Mohamad Ajami and then, keep launching all your campaigns.