MARKETING EDUCATION
UNIT ONE
MEANING AND FUNCTIONS OF MARKETING EDUCATION
In
running a business, one cannot fail to put into consideration the type of
business to be carried out, the nature of products, product promotion, and,
most importantly, market analysis.
In
every business or organization, several structures need to be put in place for
the company to thrive. These structures make up the various levels of a working
system ranging from Administration, Management of Finance, Management of Sales
and Marketing, amongst others.
Marketing
is one of the essential parts of any business; it identifies needs and wants,
using the information to the advantage of the producer. Marketing merely a
means of promotion, distribution, and sale of products or rendering services
through consumer-behavior analysis and research.
For
a business to make a profit from the successful sale of their products, they
need to know the behavior of buyers, understand the market trends, and, most
importantly, they need to get the word out, and that is where Marketing comes
in. Being a Marketer is no ordinary job; therefore, one requires a certain
level of expertise in specific areas relevant to useful research and
advertising.
The
knowledge behind Marketing is what we refer to as Marketing Education. In other
terms, Marketing Education is a course of study designed to train students to
carry out critical functions as regards the movement of products and services
from the producer to the consumer. The basics of this course may also apply to
the other workers in an organization. Marketing is not only relevant to the
manager but also the entire workforce of an organization.
Marketing
Education Objectives
According
to different essay writing service
reviews on marketing, students will, at some
point need help with a deeper understanding of the essence of the subject,
which is to teach primary objectives of advertising, including:
- Products development
- Product pricing
- Product placement
- Promotional strategies
- Target market selection
- Market research and analysis
Functions
of Marketing Education
Marketing
Education is a course raised to inform students on the various stages of the
Marketing process, and so, there are multiple roles to be played with knowledge
of this course, and they are:
Consumer Investigation
No
producer is complete without the consumer. The customer poses various wants,
and it is the job of the producer to satisfy those wants, but how does the
producer identify the wants? Marketing education is required for this very
reason. To check the market, identify the audience and their desires, analyze
and study consumer insights, a
learned marketer is needed. After data is collected through research, the
information is then used by the producer to adapt to the buyer environment
effectively.
Pricing
A
product or service rendered must come at a fixed price. The price of a product
is ultimately one of the many things that can attract and also put off buyers.
It would be best if you had a pricing strategy that
is effective enough to prove quality and yet realizable. You have to take into
account the cost of production to prevent losses as well as to achieve a
reasonable price based on competing products and the nature of the audience.
Marketers
do not just depend on research for what the consumer wants; they also check the
level of satisfaction consumers receive from high-in-demand products. This
complex process of bringing together various factors and setting the price of a
product is not possible without proper marketing education.
Product
Promotion
For
every product to be launched, there are effective ways a business can voice out
its brand. The type of promotion depends on the nature of the product.
Advertising and promoting are some of the most critical factors that can
increase sales of the product. Promotions can be carried out in different ways
such as; holding contests, organizing giveaways, musicals, sponsorships, etc.
and these are only possible after careful research by a professional marketer.
The marketer knows what catches the eye of the customers and how to implement
it into a campaign. Using advertising, the producer can pull in potential
customers on a larger scale.
Marketing
education is the standard study of various strategies that can increase the
sales of a product and help a producer know more about the consumer
environment. When you make the wrong product for the right audience or vice
versa, you will encounter business losses. The core of marketing is to answer
three questions: Who, What, Why. Top brands are using what they have gained
from studying these 3 questions as regards their markets. In other words, they
are educating themselves on how to better their customer experience. If you’re
looking to achieve the same things, then it’s time you jumped on the bandwagon
as well.
George
Thompson is a digital advertising & marketing specialist with nearly 5-year
long practices of offering direct-to-business and reseller services. Has a
great deal of experience in SEO, Ethical Affiliate Management, Adware and Theft
detection as well as PPC and Sales Funneling. He enjoys helping his clients
scale with clear and measurable results.
