It is undeniable that sales processes have changedand that now brands seek to relate in a different way with their potential customers, and apart from that generate the brand reputation that the digital age contemplates.
In this post, you will understand what marketing processes consist of, their theoretical context and the application of each of their steps:
Concept of marketing processes
Thinking of marketing as a set of activities aimed at developing a business, these have a sequential order that, when developed, are called marketing processes. This concept arose from Philip Kotler, a benchmark in the Marketing area, who defined it as:
Marketing processes consist of analyzing marketing opportunities, researching and selecting target markets, designing marketing strategies, planning marketing programs, and organizing, implementing, and controlling the marketing effort.
Taking into account this sequence of activities, we will define each step that makes up the marketing process.
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When speaking of opportunities, reference is made to the odds that a product or service have enough acceptance. That is, so that the solution offered has a forecast demand that is the minimum required to think of its success.
This is where the marketing process begins.
According to Kotler, there are different scenarios to understand if there are opportunities:
If something is scarce, that is, if people line up to acquire it or if it has very limited access, it is said that this would then be a market opportunity, since the supply cannot fully meet the demand.
If there is a product or service that meets the needs of your buyers, but there could be improvements in its conditions or characteristics, this is also considered an opportunity.
Or when there is a need for a product or service that has not been met — although this type of opportunity is usually rarer, since it requires a high degree of innovation and creativity.
After this analysis, it is time to know the market.
After recognizing the opportunity in the previous phase, market research is decisive within the marketing processes. This is carried out in different steps:
- information gathering;
- Data interpretation;
- Differentiation according to relevance.
At this point you can start thinking about creating a buyer persona for digital strategies.
Within this step, also all critical points must be consideredthat is, the factors that would or would not put the start-up of the project at risk.
After the market research phase, it is time to start the strategy within the marketing process.
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The time has come to define what to do or how to put into practice the information obtained in the previous points. To do this, you need to start a strategy to establish in the market that product or service involved in the process.
The strategies are:
- Segmentation: The market segments to be served must be chosen and focused on those with the greatest potential, based on the data collected in the previous processes;
- Differentiation: In this section, we think about the characteristics that are going to distinguish the product or service, be these the price, its presentation or other characteristics that make it attractive;
- positioning: Here it is necessary to determine how what is being offered to people will become a reference, advertising being a key factor at this point;
- emphasis and flexibility: As far as your company is willing to go, that is, what will be considered as something executable and what will not, according to your capacity.
Here we will determine with which actions the strategies will be carried out. Keep in mind that this is not a fixed number. The number of actions may vary according to the objective, and of course, to the budget available for its execution.
At this point in the marketing process, Kotler mentions the 4P’s (Product, Place, Price and Promotion).
The expenses involved in implementing the tactics are also defined.
Finally, they must be scheduled in a schedule of activities.
The time has come to get to work. All the tactics and strategies thought of in the previous steps arrive here as a transcendental part of the marketing process, since it is here that we will know how well the previous steps were carried out.
In this part, it is very important to keep in mind what solution we are offering. As long as this is a watchword, we will be able to add value to the product or service for sale.
This is the last part of the marketing process, and includes the analysis of how the activities were developed up to now from 3 fronts:
- strategic control: Make changes or adjustments in the executed strategies, this control is important due to the constant changes that may occur both internally and externally;
- Profitability control: Know if the income has been able to give a representative return on investment and if the other financial indicators show the sustainability of the business;
- plan control: According to the term established for the execution of the strategy, carry out a review of the period, to have a comparison with similar periods of time.
Marketing processes are a series of activities that a company carries out, either when it starts its operation or when it launches a product or service.
Did you know that as well as this process there is also digital marketing, which can be fantastic for achieving sales success?
Learn all about Digital Marketing at this great ebook that we have prepared for you.