Dictionary.com defines marketing as "the action or business of promoting and selling products or services, including market research and advertising" by Dictionary.com.
If you work in marketing, as I do, you probably find it difficult to define marketing even though you see and use it daily; marketing is too broad and variable for a simple definition.
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The selling section, for example, overlaps a little too closely with a definition of "what is sales," and the word advertising conjures up images of Mad Men brainstorming sessions.
However, as I dug deeper, I discovered that marketing does, in fact, heavily overlap with advertising and sales. Marketing is present at all stages of the business, from start to finish.
What exactly is marketing?
Marketing is any action taken by a company to attract an audience to its product or services through high-quality messaging. Marketing's long-term goal is to demonstrate product value, strengthen brand loyalty, and ultimately increase sales by delivering standalone value to prospects and consumers through content.
At first, I was perplexed as to why marketing was required during product development, a sales pitch, or retail distribution. But, when you think about it, it makes sense: marketers have the most in-depth knowledge of your consumer persona.
Marketing's Purpose
Marketing is attracting customers to your company's product or service. This is accomplished through market research, analysis, and comprehension of your ideal customer's interests. Marketing encompasses all aspects of a company's operations, including product development, distribution methods, sales, and advertising.
Modern marketing began in the 1950s when people began to use media other than print to promote a product. Marketers were able to conduct entire campaigns across multiple platforms as TV – and soon, the internet – entered households. And as one might expect, marketers have become increasingly important in fine-tuning how a business sells a product to consumers in order to maximize success over the last 70 years.
Indeed, the primary goal of marketing is to attract customers to your brand through messaging. That messaging should ideally be helpful and educational to your target audience in order to convert consumers into leads.
Today, there are dozens of places where a marketing campaign can be carried out – where does one do it in the twenty-first century?
Advertising and marketing
If marketing is a wheel, advertising is one of its spokes.
Product development, market research, product distribution, sales strategy, public relations, and customer support are all part of marketing. Marketing is required at all stages of a company's selling journey. It can use various platforms, social media channels, and internal teams to identify its audience, communicate with it, amplify its voice, and build brand loyalty over time.
Advertising, on the other hand, is only one aspect of marketing. It is a paid strategic effort to raise awareness of a product or service as part of the larger goals outlined above. Simply put, it is not the only way for marketers to sell a product.
The 4 Ps of Marketing
1. Product
2. Price
3. Place
4. Promotion
Conclusion
Hopefully, you now understand the purpose of marketing and how to define it. Marketing touches every aspect of a business, so it's critical that you understand how to use marketing to boost your company's efficiency and success.
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