Marketing is a purposeful activity with the goal of creating, communicating and delivering value to satisfy the target customer’s needs in regard to products, services and ideas.
The entire discipline of a marketer, every tool, every action and decision that takes place (or doesn’t take place) is made with the purpose of creating, communicating and delivering value.
Marketing, therefore, is a process of achieving customer satisfaction through the balance of these activities, in a sort of value chain. As we are striving to answer the target customer’s question “What makes you different and better?”, it follows that marketing is an activity aimed at creating a perceived difference between the product/service being marketed and its potential competitor(s).
Marketing is our most fundamental way to satisfy these needs, and as such, the demand for marketing will always exist. The need to continually re-invent marketing methods and create new ones comes directly from the competition that exists among businesses.
In a saturated marketplace, it is not enough to be good. You also have got to be perceived as better than the other competitors. Marketing helps people in a crowded marketplace see you differently and distinguish you from all the rest.
We hear this term far more than we use it: marketing. Marketers are people in companies whose job is to focus on satisfying customers. They’re the ones who do research and testing and come up with the concepts for advertising, packaging, pricing, distribution, product design, and customer support. They’re responsible for the way that a company looks to consumers: from the brand image it portrays to the promises it makes and lives up to.
Marketing is near-ubiquitous in modern economic life. The reason is that in advanced economies at least, it’s almost impossible to avoid competing against rivals. This means that everything firms do to try to create value for their consumers in a saturated marketplace counts as marketing.
Marketing has a lot to do with the Essence of the brand that the consumers see in the marketplace.
If you were selling soap, your marketing would be about your brand and knowing how to make your consumers see your essence in the marketplace.
The difference is that while only some consumers will care about the position or value proposition, all consumers will see the essence of the brand — the core attributes and visual cues that brands use to build familiarity and credibility among consumers.
At its core, marketing is about consumption. It’s about making sure the consumer knows what she’s buying and wants to buy it. It’s also about her perceptions of the quality of the brand being purchased.
Essence is everything. The essence of a brand is what customers think it means. They are not abstractions; they are perceptions, and getting them right is vital to the success of any brand.
Marketing can be viewed as differentiation, plus communication.
Marketing seems to get more and more important the more saturated the market. This is true because firms are having to pay more to get consumers in the door. The consumer gets whipsawed between these two powerful forces. They want some of their time back, but firms won’t give it up unless they can charge a bigger premium for that time. The game as played today in most developed economies is a tug of war between firms who want ever-higher prices and consumers who want ever-lower prices.
The best example of this is today’s ticketing and event services. For the crucial first few months a big event is on sale, prices are low and tickets are easy to get. Then, as the event gets closer and the economies of scale kick in, firms jack prices up and ration tickets. This leaves consumers with fewer options and less flexibility.
Marketing has changed subtly since the 80s and 90s — it used to be about communicating a product feature set. If you were a customer, the chief marketing officer was in charge of things like brand building, advertising, and packaging. But today, The marketing department of large firms has become so powerful that it is no exaggeration to call them ‘media companies.’ They produce content or purchase their own media. They create the stuff consumers are paying attention to. Their influence over our private lives is becoming tremendous.”
Marketing is about developing long term customer relationships. Developing products that are tailored to their needs. Customers buy products because they believe they will experience some kind of benefit or pleasure or increase in comfort. The chances are that if you like a product, there are other people out there like you
One of the biggest challenges in the startup world right now is finding sustainable ways to get consumers into the system, especially in online and mobile markets. Recently, growth has been primarily driven by advertising and spending on marketing
Perhaps the most important thing to understand about marketing is that it is a contest for our attention. Marketing budgets reflect how much firms are willing to spend in order to capture our attention.
Marketing is the heart of a good business. It builds trust. It sells products. And it provides the focus for everything a company does.`A good marketing strategy serves the same function in an organization as a skeleton does in the body: it gives structure, meaning and direction to what we do every day.
A good marketing person creates partnerships with customers. It’s not a one-way street, where you talk and they listen; or, where you create advertising and expect them to do something. Good marketing, like good development, is founded on understanding. You need to go beyond your customers’ stated needs and understand what they really want. And once you know that, you can build a better product than the competition.
A lot of people think marketing is about lying and tricking people, and that’s just not true. The vast majority of your job would involve listening to customers, figuring out what they need, and trying to solve their problems. If I’m doing a good job, my customers won’t even realize they’re getting sales training, or product positioning advice