Role of Marketing in Promoting Products and Services

MARKETING

SECTION 1 MARKETING
 Purpose of marketing
 The purpose of marketing is to promote and advertise products and services in
market to target audience. Basically there are 3 purpose which is classified as
 Capture attention-
 Educate prospects
 Convert

CONT..
 Role of product, sales and market orientation
 In marketing product sales and market orientation play vital role
in it. they provide a framework on how marketing is to be done. Thus, its
role is as
 Product orientation - it is an approach in which business activities
continuously make efforts to improve its products. This is done to make
product best one and maintain its quality.

CONT..
 Sales orientation- here, it refers to approach where many business focus
on selling their products and services. So, they emphasis on selling
techniques to increase sales.
 Market orientation- it includes culture, value, beliefs etc along with
structure, system of organization. Basically, activities in it are focused
towards satisfying customer needs.
 Thus, these all play crucial role as they are integrated with one
another. So, when product developed is best then it is sold in market with
various techniques. Hence, that product enable in satisfying needs of
customer.

CONT..
 how the impact of marketing is measured in terms of outcome
 there are various ways to measure impact of marketing. It
depends on things
 ROI- it is the best KPI in which return on investment is calculated of
overall marketing campaign. Also, it enables in measuring quality of leads
generated by campaign as well. for instance - $1000 on campaign results in
$4000 then ROI is 400%.
 Cost per win- here, it measure expense of each sale done in campaign. So,
on basis of it each campaign outcomes are measured.
 .

CONT..
 Cost per lead- it measure cost per lead generated in marketing. So, it does
not calculate quality of leads.
 Conversion rate- here, outcomes related to conversion rate is calculated. It
state that how many customers are being converted into from the overall
leads generated.
 Incremental sales- it calculates marketing efforts towards sales numbers
that shows how much sales is generated through marketing