Introduction

Marketing strategy is the promotional process that brings a product to market, including its
launch and market positioning, which must be consistent with the brand's objectives and
intelligible to Buyer Personas across the sales funnel.
Marketing and communication activities for a product differ from those for a service.
This process is in charge of ensuring that the right individuals learn about the products in
issue and understand how to utilise it correctly. Listening to consumer demands throughout
the production process is part of product marketing. It is critical to understand their
consumption patterns, hobbies, activities, and even their daily lives. Branding is among the
most essential strategic activities in businesses; it comprises creating value by understanding
client wants and desires and analysing environmental trends. Marketing, on the other hand, is
responsible for building brand experiences that lead to consumer loyalty and eventually
produce sustainable and successful brands over time. The first step in achieving this goal is to
understand the market strategies and its fundamental ideas in order to execute them in
enterprises (Bremser et al. 2018).
In other terms, it is an area of management that concentrates on the communication
orientation of a group's or an individual's economic and commercial activity, that is, how to
identify and serve the demands of the consumer target market.
Marketing is a two-way activity that involves the exchange of products or services between
the many social and economic players in a certain region of the consumer spectrum. This is
not to say that it is the same as advertising, though it does employ it as well as other
disciplines or approaches, such as business models, to conduct its study and formulate its
conclusions. Marketing aims may be stated as driving the client to the threshold of their
purchasing choice, thus encouraging the economic transaction between both the entities
(consumer and supplier) so that both gain a benefit or pleasure.
Delight in economic transactions (one item for another, payment for an item or commodity,
for example) is indeed the foundation of contemporary society's consumption system,
because it will not occur when one of the parties is not satisfied again. With all of this
information, it is evident that modern marketing is centred on the consumer's requirements
and desires. It is no longer about "influencing" him or reaching out to him randomly, but
about hearing him and adjusting to what he needs (Bytyqi et al. 2021).
As a result, marketing should be seen as just a philosophy or method of functioning that
should impact all aspects of a firm, rather than as a collection of procedures.
In the rest of this report, various concepts of marketing, and their implementations and effects
on a product will be discussed, which will be concluded by a following discussion and
analysis of the overall report.

Review of theoretical marketing concepts

As a theory, marketing can be classified as, an activity, a collection of institutions, and
procedures for creating, communicating, delivering, and exchanging offerings of value to
customers, clients, partners, and society in general Marketing is a set of concepts and
techniques that strive to enhance commerce, particularly demand, according to the American
Marketing Association. Examine the methods and resources available for this purpose.
Marketing's goal is to get to recognize and comprehend the customer very well and the items
or services perfectly match their demands and sell themselves (Cooper et al. 2021).
In a perfect world, marketing would entice people to buy, and then the items or services
would be provided to them. Throughout history, the primary purpose of marketing has been
to satisfy customer requirements through a series of coordinated operations that allow the
business to fulfil its objectives. Because customer happiness is the most crucial aspect of
marketing, the corporation must investigate what your clients' wants are in order to generate
really pleasant items. Get these items to customers.
Continue to adapt and tweak items to maintain them relevant in response to variations in
consumer needs and preferences. The consumer is at the core of all marketing operations.
Marketing is responsible for regulating product demand, which allows the company to
achieve its goals. For example, if there is a deleterious demand, that really is, if people have
negative opinions about the product and its benefits, you must use conversion marketing,
which tries to change the deleterious image of a product to make it optimistic. Since there is
no need, when consumers do not require certain things. That is, most current items in the
market have little demand; the aim of advertising is to generate it by developing a demand for
a product in the customer (Egorov et al. 2020).
If we discover a latent need (when individuals desire or need something but haven't located
the perfect product to meet it), the marketing strategy to be applied will be promotional
marketing, which seeks for items that meet those requirements and encourages demand.
Examples: Soft drink customers who do not wish to acquire weight have an unsatisfied
desire. Thus, by producing flavoured beverages, demand will be stimulated. It is crucial to
reinvigorate a declining demand when it is discovered. Whenever customers lose interest in
an established product on the market, the corporation must resell the product to re-create the
need for it. While we achieve a full demand, we must sustain it (Melrose et al. 2018).

Product concept
When a person goes to a store or jaunts a website to buy something, including a webcam,
they not just to request information just on tangible specifications and price, but also roughly
similar details with the other sequence of products, and also the potential benefits and
rewards which they can yield us, for both filming and also for one's physical transfer, and
users will almost certainly find out if there is offer or refund on the value at that moment. The
responses that the customer receives will give him with a broader context about the products
that he is supplied vs the one that he desires, which does not relate just to size, technical data,
and price, but to a larger set of qualities that we will refer to as product attributes (Nyström et
al. 2022).
Depending on this instance, which can be used for any other object or service, we can say, "A
product is a set of tangible (form, size, colour.) and intangible (brand, corporate image,
service.) traits and features that the consumer accepts, in theory, as something that will meet
their wants." For example, an automobile that fulfils the requirement for transportation. When
a person purchases an automobile for personal use, he not only meets the requirement of
being competent to use that for mobility, but he also would become the proprietor of the
good. But on the other hand, if he requests the assistance of Uber, especially if this is the
same automobile and brand, he merely meets the demand to really be able to carry oneself to
his location, but he never acquires possession of the car, thus he purchases a service (Özde et
al. 2020).

Production concept
Consumers will favour items with superior quality, performance, or new features. The
product idea believes in the customer and believes that if they have more product options or
receive more advantages from the company's products, they would be more loyal. The
primary goals of production are to guarantee that the items or services ordered by the client
are delivered in the volumes and on the timeframes agreed upon. In order to meet the agreed-
upon dates, you must first determine What physical or human capital are necessary; and How
many assets are required. For increased corporate value, ensure that these items or services
are created or given within the predicted costs and at the lowest possible cost. As an example
it can be said that Henry Ford's entire concept was to optimise the production chain of the
"Ford Model-T". The initial investment of the "Ford Model-T" automobile was roughly
US$800, which was expensive in the early twentieth century. Following the production
philosophy, the firm created its production line as well as other manufacturing procedures.
The price dropped from $800 to $300, which was a reasonable amount for several Americans
at the time (Stead et al. 2021).

Selling concept
It states that consumers will only buy more things if the corporation actively pushes or sells
them. Of course, in this day and age, we all know that selling isn't the only way to sell a thing
one must concentrate on marketing.
For example it can be said that Coca-Cola has always been a market innovator. Their strong
suit has been the pursuit of novel tastes that delight their clients. "Lemon, Green Tea, Citrus
Peels, Vanilla, Ginger, and Diet are among the new tastes they've created."
With these new tastes, they have demonstrated their innovation and flavour fusion to their
customers. Coca-market Cola's innovation and customer taste have undoubtedly been
continuous points. Another of Coca-sales Cola's methods was merchandising, which is the
practice of delivering non-product related goods to merchants for the purpose of giving them
free to consumers. Coca-Cola pioneered this sort of marketing. New enterprises must
understand the tactics and campaigns employed by the market's large brands; this is an
opportunity to understand and grow by building success-oriented plans (Pušica et al. 2021).

Marketing concept
It focuses on the demands and desires of the targeted market as well as on providing the best
value in comparison to rivals. The marketing idea relies on the Pull strategy, which states that
the firm must build its brand to the point that buyers choose it above any other competition.
Marketing is an activity, as well as a collection of organisations and procedures for the
production, communication, delivery, and exchange of offerings of value to customers,
clients, partners, and society as a whole. Marketing is responsible for managing product
demand, allowing the organisation to fulfil its goals. This meeting of individuals in need of
answers and those who supply them has a dual purpose: benefit and continuity. In other
sense, both the corporation and the client benefit, and the connection is intended to persist
over time through continuous exchanges. As a result, marketing employs a variety of
observations and analyses to ascertain the worries, interests, preferences, and wants of
potential purchasers (Roldán et al. 2018).
For example it can be said that, Each Ferrari automobile is priced differently based on the
models and engine type. Prices range from roughly $170,000 to $280,000 for the most
popular version, the Ferrari 458 GTB. These antique vehicles are a terrific investment since
they are expensive to maintain. It's worth grows over time, eventually adding huge amounts
of money after several decades. Ferrari's marketing strategy comprehends pricing approach
focuses on high-end vehicles, with prices growing with specific upgrades (Iaffaldano et al.
2021).

Societal marketing concept

It emphasises on the wants and aspirations of the target audiences, as well as the benefits it
brings that serves the customer and society. However, rather than advertising a service or
products, social cause advertising seeks to propagate an ideology that seeks to solve societal
issues. It is obvious that the brand gets disclosed as a result of this, but it is not the sole goal
of social marketing. Essentially, this approach seeks to persuade a brand's target audience to
participate by delivering solutions to these problems also including healthcare, transportation,
the environment, education, and a variety of other social concerns (Salih et al. 2018).
An illustration of a globally recognised business, in this instance in the industry of global
exports. This German-based corporation launched a campaign called "Living responsibly."
This campaign was a collaboration with "Aldeas Infantiles SOS", a non-profit organisation
that assists children and adolescents in need. In addition to the financial assistance to
continue this essential social activity and assist young people in their transition from the
scholastic world to the world of employment, the firm linked its employees and put them as
role models for these young people.

Analysis of the concepts based on a product

Advertising and marketing are two topics that are frequently discussed on a daily basis, but
they sometimes cause confusion. Are they fundamentally the same? What similarities and
differences do they share? What are one's and the other's tools and strategies?
Understanding how marketing and advertising may help the business is critical to its success.
As a result, we'll throw some light on the subject. And then business will know what's the
ideal plan for business or what they need to learn to advance professionally. This segment
will discuss different concepts of marketing in terms of developing a brand name as Red Bull.

Product concept
Red Bull, a brand that is less than three decades old, has become synonymous with energy
drinks without even declaring that they sell that product.
It is apparent in their commercials that the brand is constantly surrounded by energy, which it
sells via content. This method engages and enchants clients, instilling compassion and value
in their interactions with the organisation. This is the thin line between firms who understand
how to develop relevant content and others that are simply trying to create content to
supplement their digital marketing plan (Sayed et al. 2021).
The two red bulls represent power and vigour. The rising sun's backdrop refers to its Asian
roots. The mixture was utilised by Japanese pilots during World War II before being a
commercial drink in Thailand underneath the branded version Krating Daeng. As a result, the
tagline "Red Bull gives you wings" (original version: "Red Bull verleiht Flügel") is also
likely. When creating a brand, you must be able to tell tales and myths that compel you to
talk about something and share it, just like I am doing now with you.

Production concept
We all know how popular Red Bull is in mixed drinks with alcoholic beverages. It is not
really a use that the brand promotes. The product's pitch is that it offers people energy. They
need to have something to keep everyone awake if guys want to stay in shape all night. It was
used as a legitimate "drug" in this sense. Red Bull's advertising message also touches the
audience in discos and pubs. Furthermore, when blended with powerful alcohol, the drink
eliminates the disagreeable taste, which is appealing to young people in particular (Sayed et
al. 2021)..

Selling concept
Red Bull has indeed been connected with sports activities since its debut. As a result, this
method is used in the majority of his graphical and advertising projects.
However, this link between energy and sports participation was based solely on the
company's content marketing strategy. Customers find the firm through relevant content
provided by the brand, with the goal of enticing and entertaining people to make them
recognised, establish affinity, by becoming loyal consumers. This is how Red Bull
established value in its products and authority while discussing energy drinks (Schrøder et al.
2018).

Marketing concept
Whereas Coca-Cola pioneered the advertising of happiness, Red Bull pioneered the
marketing of intense emotions. When your body creates adrenaline, it produces pleasant
sensations for all individuals who want "risk." Instead than leaping from an overpass with a
parachute, you may experience comparable sensations by drinking a Red Bull. You might not
even need a parachute since "Red Bull gives you wings." Content is critical for a brand or
organisation seeking to establish or sustain an omnichannel reputation and awareness. And
that is why Red Bull has its own marketing firm and invests heavily in events that promote its
goods and brands (Stokes et al. 2022).

Societal marketing concept

Despite its origins in athletics, Red Bull now focuses on a larger idea of energy. They sell a
lifestyle to the appropriate individual at the appropriate moment. The product is rarely seen
on the brand's Instagram, which is filled with videos and photographs of notable sportsmen
doing stunts. They end up attracting a new crowd, who prefer to have adrenaline, are on
social media, and, as a result, develop the habit of drinking energy drinks. As we can see, the
company is less concerned with displaying its can and more concerned with displaying its
ideals and what the customer will represent when purchasing its product (Pušica et al. 2021).

Conclusion
Marketing exists to create an attitude toward the market in order to accomplish feasible
purchase habits, which are encapsulated in the test, follow, and return formula. Marketing is
done to get people to pay for products and services, not only because they know one other.
Marketing does not generate wants; rather, it fills them. Because there are many distinct
purchase patterns and marketing exists to generate money, no segmentation method is
advised. The marketing that fascinates us concentrates on advertising segmentation because it
is the most effective. The product is created to serve the customer, and the consumer is the
one who purchases it.
Red Bull has often demonstrated that it is more than just an energy drink manufacturer and
distributor. She understands how to adapt and change and how to use technology to her
advantage. They began by investing in extreme sports and activities, but their ultimate
objective was to raise brand exposure, which would eventually lead to fan and customer
devotion. Everything they do in their branding strategy is tied to the brand through
strategically positioned items and phrases. It's important to persuade the target audience to
support the brand, but then why stop there? Red Bull is continuously looking for innovative
methods to reach out to new audiences. Even if some people may not participate in sports.
From a marketing standpoint, Red Bull is a complete success story that should be examined
by those of us who are interested in marketing. Red Bull's entire marketing mix strategy has
been so effective that the firm has created a new category - functional caffeinated beverages -
and grown to be a multibillion-dollar brand alongside beverage titans Coca-Cola and Pepsi.
Red Bull has now become the leading company in energy drinks in less than 20 years by
expertly engaging with the world's young. Dietrich Mateschitz launched the firm in 1992, and
it now distributes 4 billion containers of energy drinks per year in over 160 countries.
Reference List (Harvard)