It is easy to spot the difference between marketing and advertising. Marketing is profitably utilizing the outcome of learning long term and short term desires of those that will pay for a product or, in more traditionally, a one time, investment. In modern terms, marketing has come to mean selling a product or service to customers at a higher price point than one initially paid. For instance, while an airline might place a discounted coupon on a flight to Paris during its holiday season, it would not likely use such a coupon to encourage frequent travel to the French capital in the off season.
Marketing, on the other hand, is the allocation of resources to identify and reach potential markets. If a company is attempting to sell batteries to automotive customers during the Christmas season, its marketing activities may focus on attracting consumers interested in purchasing the items. Marketing therefore, is a two-way street: It can be done to acquire new markets as well as it can be used to attract existing customers. If, however, a marketing strategy does not include a commitment to continue to reach out to potentially new markets year after year, it will ultimately be deemed as a waste of time and resources. The result, if a company cannot sustain an effective marketing program in place, will be a company that fails to realize the revenue dreams it has for itself and its industry.
To create an effective marketing plan, it is important to have a development strategy. Developing a marketing activities strategy is a means to developing a short and long-term marketing plan, evaluating those plans, identifying appropriate funding sources, and eventually implementing those plans. The purpose of a development strategy is to lay down a blueprint for achieving the company’s goals. A development strategy will help to ensure that marketing activities are focused on acquiring and maintaining new customers, building brand equity, and improving product and service quality.
A marketing strategy is a set of strategies to increase market penetration. When a firm first decides to develop a marketing concept, it must determine what market segments it hopes to enter. Once it has determined a target market, it can further refine the concept by determining appropriate marketing methods. Generally, however, the core elements of any marketing concept will be dependent on the level of development the company currently has in place.
Marketing strategies are generally grouped into two categories: Affiliate marketing strategies, and Direct selling strategies. Affiliate marketing is a form of multilevel marketing that utilizes a number of different sales channels. The primary objective of an Affiliate marketing strategy is to generate profits by driving qualified traffic to the merchants product or service. In order to generate sales, a merchant needs to either offer a product or service that is unique, or provide a lead or conversion system that is leveraged by Affiliate marketers. For example, if a product may only interest teens, an Affiliate marketer could use a keyword marketing strategy in order to generate traffic based on teens looking for that product.
An Affiliate marketer is only able to capitalize on his or her own personal brand of the product or service it markets can be perceived as having personal value to that market. In terms of Internet marketing, this concept known as Influencer marketing is at the core of most successful businesses. Basically, an Influencer uses his or her name, voice, reputation, or other personal assets to market a business in an effort to leverage potential customer exposure to the business. In essence, an Influencer is someone who is credible enough to be perceived as an authority figure in a given subject; this person has made themselves a significant presence within that market and is now using their personal brand name to market the business.