Today it is impossible to find a single company that would not use the principles of marketing in its activities. Everything, from an individual entrepreneur to international corporations, promote their products or services in one way or another, build relationships with their customers and create their image on the entrepreneurs market.
The basics of marketing include having a goal, mission and strategy for the company. They are not always expressed in the form of written and official documents, but each owner always keeps in mind the image of the activity that he wants to achieve. To better understand the functions of marketing, you need to turn to the origins and find out what led to its formation.
Marketing components
If you look carefully, the basics of management and marketing are very similar. This happened because of the community of sciences that laid the foundation for their formation. Sociology, psychology and economics form the basis of marketing. Each of these areas made a huge contribution to the formation of the research work of the relationship between a product, a brand, a company and a consumer.
The social part of marketing
Relationships in society and its welfare, which is studied by sociology, help marketers understand what kind of product the company is ready for, and with which it’s worth the time. For this reason, a constant study of the life of society, its political, economic, religious and moral components. There is also social marketing, the purpose of which is to create a positive image in the eyes of potential customers and consumers. At the same time, its basis is the principle of attracting customers due to the popularity of the company and the trusting relationship with it from authoritative bodies and people.
Psychological component
The study of the behavioral factor formed the basis of Internet marketing. This is how it is analyzed with particular care how the user will behave during his stay on the site, as well as how much the information displayed there will comply with his ethical standards and ideas. Most advertising campaigns are conducted taking into account the psychological characteristics of a specific target audience.
The economic part of marketing
Marketing, like any science, is subject to analysis. Any event held within its framework should give a positive financial result. It is its digital significance that forms the basis of marketing in economic terms. To determine the effectiveness of an advertising campaign, economic formulas and postulates are applied.
Thus, the foundations of marketing lie in social relations, emotional characteristics and economic benefits. To conduct effective advertising and image campaigns, it is necessary to take this into account. Each owner of the company, guided by these principles, will be able to take the company to a new level, increase profits and win a good name. The rule is simple: the profit obtained directly depends on the satisfaction of the end user.