The principles of marketing are the fundamental tenets on which this science rests. Knowing them, you can properly build your work and achieve maximum profit.
What is marketing?
Marketing can be viewed by scientists and economists from several perspectives. So, some experts define it as a kind of action aimed at organizing commodity and money exchange between entities. Also, marketing can be considered as a process that begins with a certain idea and ends with its implementation and obtaining a certain amount of profit. So, we can say that marketing goal is finding the optimal balance between supply and demand, as well as the organization of production in accordance with these parameters.
Basic concepts
It is impossible to know the essence and principles of marketing without understanding its basic concepts and components, among which it is worth highlighting:
- exchange - a process in which subjects transfer to each other certain values;
- demand is the need for a certain amount of goods that consumers are able to purchase at the moment;
- product is an object or action that meets the needs of the buyer;
- a transaction is an exchange of material assets, which involves the participation of funds;
- the market is a basic concept implying an environment in which the buyer meets the seller;
- market segment - a group of consumers that has similar needs, needs, characteristics and solvency.
Thus, it can be considered fair to say that marketing involves a process in which various needs are met by exchanging goods and cash in the market.
Key Marketing Principles
In order to understand all the intricacies of marketing, first you need to understand its main positions. Only thanks to them will you be able to understand how the market functions and how its actors interact with each other. So, the principles of marketing can be formulated as follows:
- the first and most important thing is that strategy and tactics should interact and work in a single direction;
- to produce products in strict accordance with market conditions as well as the structure of customer needs;
- the assortment of manufactured items of goods should be strictly justified, from the point of view of economic feasibility;
- the level of technical development should be continuously improved in accordance with increasing needs;
- To enter the market with one or another product, it is necessary at the very moment when it is possible to get the greatest profit.
Marketing organization
In enterprises, the work of the marketing department can be organized in completely different ways. But the fundamental rules remain the same. Organization Principles marketing can be described as follows:
- systematicity implies that marketing is a link in the overall structure, and not some separate service;
- planning and adjustment of production programs should be carried out continuously as necessary, caused by changes in the external and internal environment;
- a plan of marketing activities should be multivariate and include various possibilities for the development of events;
- During the development of marketing strategies, various techniques and approaches should be used.
Observing these marketing principles, you guarantee your enterprise success and superiority over competitors. Unable to drive effectively practical activities without first familiarizing yourself with the theory. Fundamental knowledge is the key to the success of an enterprise.
Principles and Functions of Marketing
If the principles form the basis of marketing and are binding, then the functions make it possible to understand what role the service performs in the enterprise. So, we can distinguish the following:
- analytical function implies a continuous study of the situation both within the organization and beyond;
- the productive function is that the development and release of a new product begins only by the results of a comprehensive study of the market situation;
- the sales function implies the search for optimal markets for the sale of products, as well as the shortest and most profitable ways of its delivery to the destination;
- the management and control function means that at all stages of marketing research, as well as production and marketing of products, continuous supervision by senior management should be carried out, according to which the activities will be adjusted and directed in the right direction.
How is marketing management implemented?
The principles of marketing management can be formulated as follows:
- The principle of mutually beneficial is that the interests of all participants in a commodity exchange transaction should be equally respected, if this is not possible, then a compromise is required. It is worth remembering that all market entities equal and can put forward their conditions.
- The principle of strategic orientation states that all marketing research and production processes should be focused on the long term with the parallel development of a detailed tactical plan. Also, this marketing program should be fully consistent with the overall objectives of the enterprise.
- The principle of individualization of demand is manifested in the fact that different products should be offered for different groups of consumers, aimed at meeting the needs of a particular group. Market segmentation is also associated with this concept. This allows you to diversify the assortment of products or concentrate on the production of goods for a separate (target) group of consumers.
- The principle of marketing integration is that in their activities, firms must use all available mechanisms to research markets and promote their products.
- The principle of benchmarking is to constantly compare your company with leaders in a particular industry. This is done in order to compare the main indicators and take measures to achieve the established level. It is allowed to adopt from the leading enterprises some mechanisms and methods used in their marketing activities.
What is market research
Marketing research is a focused action on the collection and analysis of information to develop enterprise strategies and tactics. During this process, marketing principles must be strictly followed.
Marketing research is carried out in several stages:
- setting goals and defining tasks to achieve them;
- development and clear detailing of the plan in accordance with which research activities will be carried out;
- implementation of an action plan that manifests itself in the collection and analysis of information;
- reporting on the results.
A well-conducted study is the key to the success of an enterprise.
