What Is Marketing, The Different Types Of Marketing Activities That Companies Can Implement, The Best Types Of Marketing Activities For Companies To Implement, And The Benefits Of Companies Implementing Marketing Activities

Book excerpt: This essay sheds light on what is marketing, demystifies the different types of marketing activities that companies can implement, reveals the best types of marketing activities for companies to implement, and delineates the benefits of companies implementing marketing activities. Succinctly stated, marketing is deemed to be the practice of promoting product offerings and/or service offerings. Marketing can also refer to the marketing activities that are utilized for the purpose of promoting product offerings and/or service offerings. Marketing activities are employed by companies to not only entice sales for their product offerings and/or service offerings among the members of their target market, but also to raise awareness of their product offerings and/or service offerings among the members of their target market. A precursor to being able to purchase a company’s product offerings and/or service offerings is being aware of their existence. If a customer is acutely unaware about the existence of a company’s product offerings and/or service offerings, then he is inapt to purchase those specific product offerings and specific service offering that he does not know exist. A customer needs to be able to discover a company’s product offerings and/or service offerings for him to be eligible to purchase the company’s product offerings and/or service offerings. If a customer lacks any semblance of awareness of a company’s product offerings and/or service offerings, then they will remain undiscoverable to the customer and will be inapt to be purchased by the customer. Similarly to how a customer would be unable to purchase a specific product on a retail store shelf if it were metaphorically invisible to him, a customer would also be inapt to purchase a specific product that remained undiscoverable to him. Marketing activities can be expensive to employ and the usage of marketing activities does not guarantee that a company will be able to meet its sales forecasts in the pending future. An investment of marketing dollars in leveraging marketing activities does not guarantee that a company will be able to reap a positive return on investment for doing so in spite of how optimized their marketing activities may be. This is because the future is enigmatic and obscured behind a veil of time. The utilization of impotent marketing activities can cause a company to become apt to hemorrhage its marketing dollars. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities can reduce a company’s net profit per product sale. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities can also yield a higher cost per customer acquisition. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities can also yield a lower conversion rate. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities can also yield increased marketing costs. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities is also a brobdingnagian misallocation of marketing dollars. The issues appertaining to employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities extend beyond the aforementioned issues. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities also renders a company more prone to succumbing to a negative return on investment from its marketing activities. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities also renders companies more apt to have a lower sales velocity. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities renders companies more apt to have a lower inventory turnover ratio. Employing inefficacious high-cost marketing activities instead of employing efficacious low-cost marketing activities is also an act of veritable imprudence that renders a company more prone to being unable to meet its upcoming sales forecasts.