Philip Kotler gives us a short definition of marketing “Satisfying needs in a profitable way”. Although he also mentions the definition of the American Marketing Association. That expresses “Marketing is the activity, set of institutions and processes that aim to create, communicate, deliver and exchange offers that have value for consumers, customers, partners and society in general”.
Finally, the definition most commonly used by Philip Kotler Marketing comes from his book Marketing Management; marketing is a social and administrative process through which groups and individuals obtain what they need and want by generating, offering and exchanging products of value with their peers.
Marketing is the set of tactical tools that the company combines to obtain the response it desires in the target market. The marketing mix consists of everything the company is able to do to influence the demand for its product. When we talk about “everything the company is capable of doing” we are expanding a range of possibilities that Kotler classifies into four groups of variables known as the 4Ps.
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The variable product is usually the most important inside a strategic group of variables of the marketing mix, This variable will be described and analyzed, together with its classification; besides the main inherent considerations.
A product is any good that provides a desirable satisfaction for consumers. It should be noted that “desirability” is the nuance to which great importance should be assigned in the concept.
In any case, it must be recognized that both wants and needs are sometimes unpredictable and surprising. In marketing, what matters is not to manufacture a product, but to manufacture that which is desired by a significant majority with the economic capacity to buy it.
Consumers choose and buy products for more than just their primary utility, so, for example, for the purchase of a car, the primary utility is to move from one place to another, but is it useful for anything?
In turn, the ICP is a commercial tool created to optimize the sales process. The differential of the ICP is to filter, in the acquisition stage, the best opportunities for the sales team. In this way, the team prospects only the most mature leads – and nurtures the rest with more intelligence.
The buyer persona guides the company’s interactions throughout the entire buying journey, building its positioning in practice. It also helps nurture leads with content appropriate to their timing, directing the tone, tone and language of communications.
With an efficient approach, your team will naturally sell faster. Because ICP maps the key stakeholders of your products and services, and directs your team’s efforts to the decision maker.
With ICP, you refine the sales process fairly, ensuring customer satisfaction. Over time, having a method in place increases the predictability of conversions and revenue, allowing your business to grow with confidence.
Knowing how the sales process works is essential for any professional involved in the sales area. For this reason, the MBA Executive in Madrid would like to explain what the sales process consists of, as well as its different parts and some of the keys to optimizing sales performance in your company.
It is important not to confuse the sales process with the sales cycle or Buyer Journey. In the buyer’s journey through the sales cycle, potential customers evolve from a product discovery phase to the purchase decision, passing through a previous phase of consideration or comparison.
As you may have noticed, companies have a strategy in place to refine their sales process as much as possible. As they measure their results and the effect of their actions, they will be able to understand what helps them generate better results, how to qualify leads correctly and what approach to take to the sales process in each case.