What is Marketing?
To start to talk about marketing, it makes sense to define what marketing is. Marketing is the method of educating consumers about a product and why they should choose your product or service over your competitors. It is also the management progression through which goods and services move from concept to the customer.
I’m sure you have heard of the 4 P’s of marketing before. Let’s review them:
Product – The identification, selection and development.
Price – A reasonable price must be determined.
Place - The correct distribution channel to reach the customer needs to be established.
Promotion – The development and implementation of a promotional strategy.
Marketing is based on thinking about the business in terms of customer needs and their satisfaction. As Harvard Business School professor Theodore Levitt has taught, Marketing is not selling. "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariable does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse and satisfy customer needs."
Marketing develops a demand for your product and helps to fulfill a need of the customer while selling moves customers to pay for your product.
The key to marketing is finding the right method and defining the right message that speaks to your consumers. It is everything that the consumer encounters when it comes to your business, from advertising, to what they hear, to the customer service that they receive, to the follow-up care that you provide.
This experience will influence the consumer whether to choose to purchase from you and whether to become a repeat customer.
But wait, there’s more. A whole lot more. The means and methods of marketing a product and a business take time and the right focus. I hope to share these with you as we continue the conversation.