Marketing is a synthesis of all activities and processes which try to ensure that the products or services of a firm move from the point of production to the end consumers. Marketing is generally considered as the process of creation of effective demand for a particular good or service within a community in an effort to ensure the circular flow of capital and goods in an open economy. There are several things which are part of the process of marketing. Some of the most well known marketing strategies include:
- Advertising: where in prospective consumers are made aware of a product or service which they can avail. Generally, this approach is not specific and almost anyone has the chance of coming across it.
- Promotional Events: this is a kind of marketing which is generally employed when the product or the service is first launched in a particular place. This not only helps create the news required for the introduction of the product into the market but can also help the company or firm create itself a niche in the market or launch a logo or a brand ambassador for the product lines.
- Retail sales marketing: this consists of ensuring that the sale of the product or the services increases at the grass root level. This is done primarily by ensuring that retail stores are made aware of the products completely so that they can in turn introduce more prospective customers to the product. This kind of marketing strategy is generally used in products which are marketed through retail chains.
- Promotional Offers: this is one of the best ways to exploit the market dynamics by offering a price much lower that the prices of the competing products.