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Unit 12 Internet Marketing in Business - P1
- Institution
- PEARSON (PEARSON)
Unit 12 Internet Marketing in Business - P1
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By: Dalmar4 • 5 year ago
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P1Kojar Ahmed
Marketing is one of the most valuable tools available to a business that wants to attract
consumers and become successful. A market exists wherever there are goods to be sold,
this can be anything from cars to toys and clothes. A way to inform consumers about these
markets is through marketing. Marketing is defined as “the action or business of promoting
and selling products or services, including market research and advertising” This definition
covers most marketing methods including modern marketing. Modern marketing is the use
of new technological and practical methods to market goods and products. This is done by
using new resources such as the internet and TV advertising.
For a business to successfully market a product to the modern market, they must first have a
basic understanding of the market itself, this is done by conducting market research and
compiling data that can be beneficial in understanding consumer needs and wants. As well
as using the internet as a modern marketing method, it can also be used as a research
method to help understand the initial market.
Modern marketing takes advantage of all the technological advancements we have in the
modern world, this is done by using social media, TV, YouTube advertisements and other
methods like general on-site advertisements.
For a business to market effectively, it should have a focused and diverse marketing mix that
uses multiple methods and markets through multiple different mediums. One method of
marketing that is prevalent in a businesses marketing mix is relationship marketing. This is
when a business markets to individuals with the goal of creating a relationship between
them rather than just making a profit and encouraging sales.
Relationship marketing is done by businesses because it helps build brand recognition and
loyalty, it means consumers will buy your products over others even if yours is more
expensive. Customers do this because they have had a good experience with the brand and
they have been approached with a friendly and customer-oriented marketing campaign, this
is also more useful in building long-term customers which is beneficial for financial security.
Modern marketing is one of the easiest ways for a business to launch a customer-oriented
marketing campaign. This is because people are generally more connected with each other
and the companies they do businesses with, allowing them to freely communicate and
address consumers whether it be complaints or general customer feedback. Businesses
have also been known to get their consumers involved in the progression of the business,
such as by giving them a voice in what they want to see in the future and if they want to see
their presence on other social media platforms. These are all important requirements for
building an effective business and consumer relationship.
As well as building consumer relationships, it is also important that a business identifies
new products and developments in the market before their competition do, this is especially
important for businesses that have newly joined the market. Businesses should regard this
as one of their most important objectives if they want to become successful, this is even
more important with the expansion of the internet and how easy it is to see a businesses
performance or new emergers in the market. A business should use the internet as best they
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