What Is Marketing?
Marketing comes from the Greek words ‘marketing’ and ‘behaviour’. It is a practice or a technique used by businesspeople to advertise their products, gain new customers or simply to spread awareness about a particular product or service. Marketing often involves the use of logos, signs, advertising hoardings and other types of visual communication to attract potential clients or customers. This type of marketing uses hard-wearing, durable and cost-efficient marketing tools.
What is also known as brand positioning describes how the creation of a brand or a reputation affects the ability of that product or service to achieve its intended sales and marketing function. Marketers try to increase the company’s profitability and achieve brand loyalty by creating a positive image. The concept of brand positioning is not limited to marketing; it applies to almost every sphere of human activity. The term was first used by Peter Drucker, who distinguished it as the theory of position-specificity.
Some of the 72 marketing definitions include the following: Branding: A unique selling platform (USP) a symbol for excellence, credibility, prestige, and reliability. Marketing is the process of building a reputation by proving that the product or service offered meets or exceeds the expectations of the customer base. Social media is an important tool for marketers who want to spread the word about a company or an enterprise.
The cohen president of Marketing Solutions Corporation (MKS), Mark Weinberg, gives this definition in his book, “Guerilla Marketing”:” marketers will work with or without a customer base, but without marketing strategy, they have no shot at success. They can attract some customers and build a brand name for themselves, but without a marketing strategy, those customers may go elsewhere.” Cohen further states that, “a brand name is a virtual handshake that allows a customer to identify with the product and know that others will be able to understand and use it.” Branding is one of the most essential components of the business goals of any company.
In her new book, Heidi Gutman applies marketing definitions to various industries and sub-industries. She divides them into four categories – Affiliate, Cause-Caring, Content, and Current. Her research of marketing categories reveals that marketers should pay attention to the following information. First, cause-loving marketers are advocates of social causes. Second, content-caring marketers seek to enhance the content of their websites and offer information that is relevant to the target audience.
Third, exchange marketers are concerned with the selling process. This type of marketing defines marketing through exchange. What exchange marketers do is that they engage in conversations with their target market. They discuss marketing philosophy and objectives, what customers need, what they can supply, and what they are looking for, while working on strategies to meet these needs.
The fourth category is marketing that is concerned with social media. It is what the president is referring to when she says “The era of transactional email has come to an end.” President Obama is correct in that many traditional marketers have moved away from email marketing in favor of using online social media sources to reach target audiences. Barack Obama has said that social media is one of his presidential administration’s priorities. Marketers should consider what is marketing if they want to succeed.
Marketing does not have to be difficult. A smart marketer considers what is marketing and how it can affect a business before engaging in marketing practices. Marketers also should be cognizant of the brand value and reputation in order to develop a winning strategy.