One of the key challenges faced by companies is figuring out which strategies to apply. As competition increased, sales-driven companies began focusing on changing the minds of consumers to fit their products. This is called the “any color as long as it’s black” school of marketing. This method eventually led to a shift in approach to customer-driven companies, which focused on altering their products to fit the tastes and desires of their customers. Ultimately, this approach has been proven to be incredibly effective.
The function of marketing is to develop and promote value for a product or service. This process may involve the selection of a target audience, conducting advertising campaigns, attending public events, and delivering offers. However, unlike sales, marketing does not involve coercion and is a collaborative process. Instead, marketing is about understanding the wants and needs of your target audience, creating products and services that appeal to them, and building relationships with customers. Listed below are the main types of marketing.
Advertising Overkill: As the number of products continues to grow, so does the number of marketing messages. It is estimated that U.S. consumers now receive up to 3,000 marketing messages daily, which is much more than their previous exposure. As a result, marketers have become increasingly efficient at cramming as many voices as possible into a limited space. Almost half of daytime television commercials are now 15 seconds long, and in 1988 only 37% were as long.