Vital Role of Marketers – In today’s competitive market, marketers are crucial for business success. They go beyond promoting products to shaping brand identity, understanding customer needs, and driving growth. By using strategic marketing techniques, businesses can boost visibility, attract and retain customers, and stay ahead of trends. Effective marketing is not just a function; it’s a vital force for sustained success and innovation.
Table of Contents
1. Target appropriate customers
To improve the scale value, a company/firm should target the customers, who are really in use or keening on trying your products.
By segregation, the demographic characteristics like age, income, and education one can achieve fruitful results, says Hirav Shah.
2. Marketing research
Before venturing into the market with a particular product, one must do extensive research regarding the demand and sell value of other similar kinds of items existing in the field.
After launching your own product, your marketing agents should collect feedback from the customers, which indeed helps to improve the quality and quantity of the product.
By conducting a survey on the price and providing them for a reasonable price will also help to raise the scale of your product.
3. Maintaining the Brand value
It is important for every company/firm to maintain s brand value for their products. To do so, you have to create branding elements as a communication platform between the firm and the customers.
Quality assurance and trust are two main pillars to increase the brand value for your product. Once the brand value is created it eventually leads to earning sustainable profits.
To maintain a common connection and immediately a healthy bond with the customers one should create a catchy phrase as a marketing technique. Brand values are even helpful to fix a share value for your product.
4. Manage the life cycle of the product
Marketers are well aware that each product has its own life span. With the widespread use of technology, new and upgraded items are being launched in the market which will have a substantial effect on your product.
To overcome the above issues, you must manage your products during their varying stage itself in the product life cycle.
Due to the new competitors in the market, there will be fluctuations in the sale percent, which is called a saturation stage in the business terms.
This is the time when all the existing firms should play the game wisely, says Hirav Shah.
5. 7Ps and 4Cs in the marketing industry
Being a product-oriented approach, any company relies on mandatory 7Ps like Process, People, Physical Space, Promotions, Price, Placement and Product.
To sustain in the market, one should, must follower the classic 7Ps formula, says Hirav Shah
Adding to 7Ps, four other factors also influence the business of your firm to shift a product to the customer. They are 4Cs, Cost, Communication, Customer and Convenience.
If anyone follows the iconic 7Ps and 4Cs formula, it will help to gain trust and earn profits in the marketing field.
6. Track Advertising status
Tracking gives an idea on which advertising is being attracted by the people and helps to differentiate between profitable and non-profitable ads.
For example, in the price sector, we can track how much extra business and revenue is being generated by giving discounts on it.
This strategy helps to track the customers’ mindset and their needful items and take necessary steps accordingly.
Hirav Shah’s Answers to marketers in driving business growth
1. What is the vital role of marketers in today’s competitive market?
Answer:
Marketers play a vital role by shaping brand identity, understanding customer needs, promoting products, and driving business growth. They help businesses stay competitive, innovative, and profitable through strategic marketing techniques.
2. Why is targeting appropriate customers important for a company?
Answer:
Targeting appropriate customers helps a company focus on people who are genuinely interested in or likely to use the product. This improves sales, increases scale value, and ensures efficient use of marketing resources.
3. How does customer segregation help marketers?
Answer:
Customer segregation based on demographic factors such as age, income, and education helps marketers design better strategies and achieve more fruitful marketing results.
4. What is the importance of marketing research before launching a product?
Answer:
Marketing research helps identify market demand, pricing, and competition. It reduces risk and ensures that the product meets customer expectations before entering the market.
5. How does customer feedback help after a product launch?
Answer:
Customer feedback helps improve the quality, features, and performance of a product. It also assists marketers in adjusting pricing and promotional strategies to increase sales.
6. Why is maintaining brand value important for a company?
Answer:
Maintaining brand value builds trust, ensures quality assurance, and creates a strong connection with customers. Strong brand value leads to sustainable profits and long-term business success.
7. What role does branding play in marketing?
Answer:
Branding acts as a communication platform between the company and customers. Catchy phrases, consistent messaging, and visual identity help build emotional connections and customer loyalty.
8. What is the product life cycle, and why must marketers manage it?
Answer:
The product life cycle refers to the stages a product goes through from introduction to decline. Marketers must manage each stage to handle competition, technological changes, and fluctuating sales effectively.
9. What is meant by the saturation stage in marketing?
Answer:
The saturation stage occurs when many competitors offer similar products, causing fluctuations in sales. At this stage, firms must use smart strategies to retain market share.
10. What are the 7Ps of marketing?
Answer:
The 7Ps of marketing are:
- Product
- Price
- Place (Placement)
- Promotion
- People
- Process
- Physical Evidence
These elements help companies deliver value effectively to customers.
11. What are the 4Cs in marketing?
Answer:
The 4Cs are:
- Customer
- Cost
- Convenience
- Communication
They focus on customer needs and complement the 7Ps for better marketing performance.
12. Why is tracking advertising status important?
Answer:
Tracking advertising helps identify which ads are effective and profitable. It allows marketers to understand customer preferences, measure revenue impact, and optimize future campaigns.
13. How do discounts help in tracking customer behavior?
Answer:
Discounts help marketers analyze how price changes affect sales volume and revenue, providing insights into customer mindset and buying behavior.
14. How do marketers drive business growth?
Answer:
Marketers drive growth by increasing brand visibility, attracting customers, boosting sales, and using data-driven strategies to improve decision-making.
15. Why should businesses invest in marketing?
Answer:
Investing in marketing increases brand awareness, attracts new customers, improves market share, and leads to higher revenue and long-term success.
16. What is the key takeaway from Hirav Shah’s conclusion?
Answer:
Success in marketing requires not only hard work but also smart decision-making, continuous monitoring, and adapting strategies based on market conditions.
Conclusion
Sticking to the hard work will only not yield better results in the vast field like marketing but a smart and clever move by monitoring and estimating the scenario in the field on daily basis will surely make the marketer’ work easy and improves company/firm’s productivity and sells, says business strategist Hirav Shah
