Marketing companies decide on marketing management tools to promote the product of a company to buyers. Marketing managers make the decision as to which marketing strategy to use for a product. Managers are often responsible for influencing customer demand, customer need, and level and timing of a product. Depending on industry context, corporate culture, and size of the business, work of the marketing company can vary.
Industrial marketing is the term that defines the practice of business organizations selling their product or services at the maximum level. Industrial marketing is also known as business to business marketing or b-to-b marketing. Marketing companies hire and recruit professional marketing managers to carry out tasks of industrial marketing.
The main activity of a marketing company involves promotion of products by advertising and branding. The products are developed to meet the needs and requirements of users. The product aspect of a marketing company handles the specifications of the goods and services, while the pricing of a product involves the entire process of setting the price.
The marketing strategy of a company is to take further steps for advertising and promotion of a product. For advertisements, an advertising agency is usually hired. The product is promoted through radio, television, newspapers, magazine, billboards or internet. Marketing companies may also have sales-promotion options to promote the product. These includes non-personal promotional efforts such as coupons, contests, discounts and sales, rebates, free samples, gifts and free travel.
Selling of a product is the practical implementation of marketing strategies used by marketing companies. The techniques of sales adapted by the marketing companies may be direct selling, agency based selling, consultative selling, consignment selling, and door-to-door selling.
Last Updated on : 22th July 2013