What is Marketing?

What is Marketing?

What is marketing? Marketing is the core of your business. It entails identifying the needs and wants of your customer and how you can satisfy them with your products and services. Marketing is a communications-based process. Ok, let’s simplify that to,

“Marketing is the process of communicating that I have something that can help you.”

The American Marketing Association, AMA has an expanded and more detailed way of answering “What is Marketing?” The AMA says “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

Some consider Marketing to be a creative industry. The creative areas of marketing include advertising and promotion. But, marketing also incorporates quantitative research and analysis which pulls from statistical, economic and mathematical disciplines. The disciplines of psychology, sociology, anthropology and neuroscience are drawn upon in understanding the consumer behavior and your customer wants and needs.

Marketing encompasses many disciplines such as sales, public relations, advertising and most customer-facing functions. It also encompasses product planning and market research which take external feedback and translate it internally to improve the business. While the Brand Manager or Product Manager is the person who oversees that all of the elements of the marketing plan are working together and delivering on the company vision, most functions in marketing are specialized.

As a small business owner it is imperative that you have a marketing plan (a component of your business plan). This is the roadmap that you follow to engage customers and create sales. It is the overriding strategy that you use to achieve your business success. Once you have a strategy for the company, you will eventually create a marketing plan for each product or service you offer.

This blog that you are reading has a marketing plan. And so does the business of which it is a part. Each is a component in a larger vision and each piece is created with definitive purpose, function and fit with the whole. Effective marketing is a fundamental key to the success of every business.

Take a look at Microsoft. They may not make the world’s best products, but they sure do market the heck out of them. And your consumer packaged goods companies are renowned for their branding and advertising, which all comes about through extensive research. Is Cheerios really any different than the generic brand of oaty-O cereal? Or, are we just convinced of that through effective marketing?

About Debra Zimmer

After 25 years of growing entrepreneurial businesses at companies such as Microsoft, where she attracted 700,000 members into an online community in 18 months and then grew a second one to 250,000 members in 10 months, Debra Zimmer then struck out on her own to grow an online retail store to 6-figures of income and put it on AUTOPILOT for 3 years. With an engineering degree and an MBA from Columbia Business School, Debra is the undisputed expert in helping experts, entrepreneurs and executives to focus their brilliance and magnify their impact using social media and internet marketing tactics.

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