To magnetize a ferromagnetic material effectively, it is essential to expose it to a strong magnetic field, ideally while heating it above its Curie temperature and allowing it to cool in the field. The material's ability to retain magnetism, known as remanence, is influenced by its coercivity, which measures resistance to demagnetization. Graphite cannot be magnetized effectively, while ferrites, which are metal oxides, exhibit different magnetic properties and generally have low remanence but good coercivity. Carbon steels are typically better for creating magnets due to their ability to hold a magnetic field after exposure, with higher carbon content leading to harder steel. For practical magnet-making, mild steel components are recommended for their availability and effectiveness in retaining a magnetic field.