Mastering the Marketing Process: Creating Value, Building Relationships, and Achieving Business Success

In this study we will discuss about mastering the marketing process and below are the summaries point:- Marketing is the process of creating and delivering value to customers, building relationships, and benefiting the business. Effective marketing involves understanding customers' needs and wants through market research and segmentation. Positioning and delivering a clear and impactful message about the brand or business are crucial for success and building brand awareness.

Marketing can be defined as the process of creating and delivering value
to customers through products or services,thereby building close
relationships with customers and reaping benefits for the business.
Applying the marketing process to build a strategy with clear goals and
plans will help marketing activities take place effectively and bring more
value to the business.
A simple model of marketing process summarized in 5 steps:
1.Determine customers’needs and wants:
This is an important first step in the marketing process.This is the step of
collecting,analyzing and interpreting information about the market,
customers and competitors.The information that needs to be collected
and analyzed at this stage can be listed as “bullet points” as follows:
- Who are your potential customers?
- What is customer insight?
- What kind of shopping habits are customers?
- How much are potential customers willing to pay?
And though that we can seeWhat problems are businesses facing?This
process will help we better understand our customers,what the current
market trends are like,and also help clarify what sets our business apart
from our competitors.
2.Design a customer-driven marketing strategy
The market is extremely large with countless customers with different
needs and no one business can satisfy the needs of the entire market.And
so, segmentationis an essential step in the marketing process to target
customers in the market.
The company cannot try to market to the entire market (all customer
groups) but should focus on one or a few certain groups and optimize the
value from that customer group.There are many ways to increase
customer lifetime value,which can increase customer purchase frequency,
value for each order,create trust and satisfaction for customers to
recommend to others.other,…
There are many ways to segment a market,the four most common of
which are:
- Market segmentation by demographics:age,gender,occupation,
income,marital status,etc.
- Market segmentation by geography:customers living in urban or
rural areas,the north - central - south region,…
- Psychographic segmentation:preferences,interests,personality,
lifestyle,etc.
- Behavioral market segmentation:purchase frequency,reason for
purchase,customer life cycle,repeat purchase,etc.
By dividing the market into small groups,businesses can use their
resources properly to meet the needs of their target customers efficiently.
After the market segmentation step,businesses will not just communicate
to all groups but need to choose thetargeting.

Targeting can be understood as the step of "zoning" the target market by
evaluating and comparing each segment,based on criteria such as
whether market size is large enough to bring profit or market stability
decide or not.
3.Construct a marketing program that delivers superior value
An equally important next step ispositioning, which involves creating and
conveying to the target audience a clear and impressive message about
the business or brand.This will be a step to make a difference and
increase brand awareness compared to competitors.
For example,the Swedish multinational group - Volvo Aktiebolaget - has
positioned its automotive products as "safest" with the classic slogan "For
life".The company always emphasizes safety and certainty through many
product features:laminated glass,blind spot warning system,3-point wire
harness,etc.This is the image that the brand wants to build in the
perception awareness of target customers.
So how can the target customers be best served, including the difference
from the competition,brand positioning.Once the target market has been
determined,building a Marketing Mixstrategy with effective tactics will
help businesses achieve optimal goals.
The purpose of a marketing program is to turn a marketing strategy into
real value for the customer.Therefore,the marketing program should
provide superior customer reviews.
This step in the Marketing process involves creating a marketing mix
consisting of four components (4Ps):Product,Price,Place,and Promotion.
All these factors are closely linked into a unified block and the ultimate
goal is still to meet the needs of the targeting.
3.1. Product:The first marketing-mix element is the product,which
refers to the product or group of services that will be offered to the
customer.
Guaranteed to solve the problem :
- What featuresdo customers want in business’product/service?
- When and where do they use them?
- What features can meet customer needs?
- Are the brandsand packagingrelevant to the target audience?
Instead of before,people only focused on selling what they had,now with
modern Marketing,businesses are oriented to sell what customers need.
Therefore,the concerns or needs of customers are the top priority.
Through that,businesses can perfect or improve the quality of
products/services to meet the needs of the target market.
3.2. Price:This is the factor that brings revenue and determines the
existence of the business.Changing or adjusting the selling price of
a product or service package will often have an impact on the
whole marketing strategy.

Pricing tactics depend on many different factors such as brand positioning,
production costs,sales,characteristics of target customers,
product/service prices from competitors,etc.
Note that low pricing doesn't always work. Price can also send a message
to customers about the image of the brand or the quality of the
product/service.
For example,Mercedes-Benz cars are seen as high-end cars and
therefore have a high price tag in the market.However,even when
determined to compete with other popular models,the company does not
follow the price reduction strategy to compete.By positioning the
Mercedes brand in the perception of customers,high prices come with
good quality.And so under-pricing is counterproductive in this case.
3.3. Place:The path by which a product travels from the producer to
the final consumer is called the channel of distribution.
To be able to meet the best and most convenient for the buying process
of consumers,businesses need to build a system of distribution channels
that operate in a reasonable manner.
To do this,you need to have a deep understanding of the market with a
series of questions:
- Where do customers often go to shop?
- Where can your product be seen?
- Through whichchannelscan customers reach? How is it done?
Today,the location includes retail,digital,phone,chat,fax,and multi-
channel options.Extensive platform and device options require business to
be present where the customers spends their time.Take the time to
understand the customers'media consumption.
3.4. Promotion:includes a number of factors that promote
increased brand awareness as well as influence customer buying
behavior.
- Personal Selling:is the most expensive form because it requires
investment in personnel,training and other benefits.However,this is a
highly effective form for markets of complex goods,items of great value
or highly personal.For example:insurance,real estate,etc.
- Advertising:includes all forms of advertising and communication
about products/services and brands for a fee.In the era of Marketing 4.0
on the throne,forms of advertising are also gradually shifting from offline
to online.
- Sales Promotion:Promotion will be an incentive to motivate
customers to make a buying decision in a shorter time.However,for
markets where there is no differentiation between brands,promotions can
only help increase sales in the short term but generate little profit in the
long run.
- Public Relations (PR):In contrast to advertising or sales promotion,
public relations is a less commercialized method.PR specialists work with
the media to report on business activities and events to bring a positive
view to the target public.

4.Build relationships and delight the customers
The key to success in this goes beyond satisfying the customer.Instead,
the orientation must create customer satisfaction.This means that the
company's offersexceed customer expectations. The customer will then
repeat the purchase and be loyal and profitable for the company.
However,the company cannot do all of this in a short time.
Creating customer value and maintaining strong customer relationships
requires activities carried out on a regular basis.Along with that is a plan
to build and develop relationships with marketing partners.
Sending a thank you note to a customer is a great way to maintain long-
term relationships with great customers and build stronger relationships
with them.
Although there are many reasons to say thank you to your customers,
there is only one that is important to help you shape more value chains
later.It is the highlight to help customers remember how you helped them
have a special experience.
For that reason,many businesses draw up programs to thank customers
for using their products and services.
Customers'patience is decreasing,even at "0".This means that when
customers come to you for advice,they will evaluate the service and make
a purchase decision depending on the response time of the business.
Willingness to give feedback to customers is a great factor in keeping
them,making them come back and ready to recommend the products
/services to their loved ones.It is also a way to maintain long-term
relationships with customers and stand out from the competition.
The best way to tell if a customer is satisfied is to ask them. Your business
can organize surveys,poll customers,collect opinions,interview or use
Forms.You can use SMS brand name service to survey service quality
quickly and conveniently.
5.Capture value from customer to achieve profits
After completing these four steps,the company created value for the right
customers with an integrated marketing program.Along with that is
fostering strong customer relationships.Then there is reaping the fruits of
its work.
Capturing value from customers meansthe company generates profits
and customer equity. This is based on satisfied,interested and loyal
customers.People who repeat the act of buying and thus come back to
buy again and again.Thus,the company can capture their value in the
long term.
6.The role of marketing
6.1. Increase brand awareness:
Marketing helps businesses answer the question:“Who are you? What
benefits do you bring?”.Marketing activities allow businesses to present
themselves in many ways.The more detailed and attractive you introduce,
the more deeply impressed customers will be with you.

In other words,they will understand basically what the business wants to
convey.What is the style of that brand,how does it make customers feel?
Moreover,a brand identity with related images can help to better explain
your company's business to customers.At that time,customers quickly
understand even if it is the first contact with the brand.
6.2. Increase profits
One of the primary goals of Marketing is to help a business generate
revenue.Marketing does not interfere directly with the production of the
product.However,the job of Marketing is to bring products closer to
customers.
Marketing campaigns are only successful when the reach of users is equal
to or higher than the set target.Products/services that are known by
many people will lead to an increase in sales.
6.3. Maintain relationship with customers
After each Marketing campaign,businesses will reach a certain number of
customers.However,just reaching out is not enough,you have to turn
customers into business companions.Effective marketing activities make
the relationship between customers and businesses closer.Therefore,from
customers,they will become potential customers and stick with the
business for a long time.
6.4. Maintain business existence
Profits and customers are two factors that sustain a business.To create
those two factors,businesses need to own a strong Marketing team.All
marketing activities are focused on the customer.Therefore,consumers
are the target for Marketing to develop.
The more effective the marketing strategy,the more satisfied customers
are with the business.Since then,revenue has also increased rapidly due
to the large number of products.Thereby showing,Marketing is an indirect
factor affecting the survival of a business.