Marketing is the engine that runs any successful business and organization. Last week, we started a series of posts to focus on the basics of social media and digital marketing. Today, we answer the broader question of what is marketing. Though this phrase has been around since several decades, it’s ironically the most commonly misunderstood term in the business world.
In this post, we talk about the underlying principle behind marketing, the need and the means. We’ll make a conscious effort to stay away from technical jargon and uncover digital marketing in simple and easy to understand terms.
What is Marketing?
I’ve come across people who say marketing is an art. Others claim marketing is a methodical science which works on definite logic and consumer behavior patterns. Wikipedia defines marketing as the action or business of promoting and selling products or services. It’s a process which creates and delivers value to the customer.
What is marketing from my perspective? I defined marketing as an approach to promoting products and services. I won’t say it’s an art because art seldom follows logic. I won’t categorize it as a science as I strongly believe marketing is all about going beyond the obvious. To me, any activity that helps a business add value to the overall customer experience is marketing.
Means
We often hear the term traditional marketing. It essentially represents channels such as TV, radio, print media etc. Though traditional marketing ruled the roost for decades, the explosive growth of Internet has meant that businesses can no longer rely solely on such methods. The World Wide Web and social media have unleashed a new generation of marketing – aka digital marketing upon us. These typically include applications such as web, email, IM, RSS, video which can be leveraged by marketers to launch campaigns. The explosive growth of smartphones and tablets has meant that mobile has emerged as a widely accepted digital marketing channel in recent times.
End
The end goal of any marketing campaign is to meet the needs and wants of customers. It’s all about understanding your customers and coming up with innovative means to provide products and services to serve them better. A great product isn’t great until it is desirable to customers and that’s the fundamental principle that rules the marketing world.
People often ask me if marketing is all about tactics and strategies. That’s natural because people tend to associate marketing with tactics, partly because they’re fun. Similarly, strategies sound business-oriented and hence it’s often used as a misnomer. In my opinion, marketing covers a broader gamut which includes planning, tactics, strategy, execution and most importantly monitoring.
What is marketing from your perspective? Please share your marketing definition by leaving a comment.
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To put it simply? Marketing is the ability to reach the ‘targeted demographic’ in a way that is honest, innovative & non-intrusive! In the advertising industry I know honesty is – a challenge?
It’s all about reaching your target audience whether you are selling paper clips or 747’s. The type of media should be consistent with your brand as well. Your target audience is not necessarily on the internet; however today, an online presence is an essential component of any advertising/marketing program.
I’ve always thought os marketing as finding the shortest/simplest possible path(s) between your company and customers.
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Marketing is any effort expended, through any medium, that predisposes your target prospect or customer to buying your product or service over the competition. They are only a prospect until they buy the first time, then they are a customer.
Marketing is warfare. Good marketing is winning a lot more often than your competition.
It would be nice if it was always honest, innovative and non-intrusive, but it isn’t. There are ethics involved and people position themselves on either side of the line all the time.
If the quality of the idea/concept and production values were a prerequisite for marketing success, we wouldn’t find ourselves looking at, listening to or reading something thinking, “Wow, this is crap.”
The unfortunate truth is, sometimes crap works too.
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