What is Marketing?
Marketing is a set of activities that are carried out to identify the needs of a certain audience in order to provide products or services to satisfy them in the most appropriate way.
Marketing is responsible for the planning process of the company’s activities in relation to: the price, promotion, distribution and sale of goods and services it offers.
It helps to define the product or service according to the preferences of consumers in order to speed up the purchasing process .
In this way, an exchange between companies and consumers can be created that satisfies the objectives of both parties.
What is Marketing
Philip Kotler , the marketing guru, says that marketing is
“The social and administrative process by which groups and individuals satisfy their needs by creating and exchanging goods and services”
According to the American Marketing Association (AMA), marketing is
Digital Marketing: Complete Guide
“The activity, the set of institutions and the processes to create, communicate, deliver and exchange offers that have value for customers, clients, partners and society in general.”
For his part, William J. Stanton says that marketing refers to
“To the development of business activities that direct the flow of goods and services from the producer to the consumer or user.”
Finally, Martin L. Bed conceptualizes marketing as those
“Integrated activities of a company, aimed at satisfying the needs of customers with a profit margin.”
In summary, marketing involves the incorporation of a series of techniques, strategies and practices whose main objective is to add value to different brands or products in order to satisfy the needs of consumers.
The fundamental objective of marketing is to put the merchandise in the hands of consumers. To achieve this goal you must do many activities.
However, the main ones are the so-called Marketing Functions .
Let’s see what they are:
Exchange: They are those that allow the change of possession of a product or service: purchase and sale
Supply: These functions are those that allow the transport and storage of the product.
Facilitation: Financing, promotion and sales, market research, advertising, standardization and public relations.
Types of Marketing
Online marketing : It is the most used today.
This type of marketing uses online channels : social networks, emails, blogs, etc., and content marketing strategies , to spread messages.
Offline marketing: It is what companies traditionally use to publicize their products or services.
This form of marketing uses the written media: the press, as well as the audiovisual media: television and radio, to spread its messages.
Direct Marketing: It is a direct way of promoting products and services, by sending direct and personalized messages to customers. The messages are sent by email, text messages, calls or correspondence.
Mass marketing: It is the mass production, promotion and distribution of a product or service.
The idea is to attract all types of buyers. In this type of marketing there is no market segmentation.
Indirect marketing: It is also known as invisible marketing , since it subtly inserts advertising messages in the content of television programs, games, magazines, movies, radios, events, etc.
Segment marketing: It is aimed at a specific group, which is selected according to their preferences, geographic location, purchasing power, attitudes and purchasing habits.
Product Marketing: This strategy aims to identify the right consumers for the product or service. The main purpose is to connect products and people.
Niche Marketing: It is a much more specific segmentation, since it selects a smaller group of possible consumers , with even more related characteristics.
This type of marketing offers more advantages to companies: they have less competition, are closer to their target audience and reduce the costs of implementing marketing strategies.
Marketing of services: It is a strategy typical of service companies. The objective is to demonstrate to the client the value it has as a service provider and position it as the best option to respond to their needs.
The strategy is focused on the ability of the person offering the service, their talent, experience and reputation.
social media marketing
Viral Marketing: It is a widely used strategy in social networks.
The idea is to spread the advertising material of a brand, with content of high value, interest or emotional impact; generating a chain reaction through the forwarding of the message between users.
Neuromarketing: It is a mix between neuroscience and marketing.
Its main objective is to understand what makes a consumer prefer a brand, buy a product or not, and even become a loyal customer.
Sensory marketing: It is a strategy that seeks to stimulate the senses. Its purpose is to position the brand.
Guerrilla Marketing: It is a technique used by brands that want to promote their products or services in an unconventional way , in order to create a memorable experience for the consumer.
The fundamental objective of this type of marketing is to maximize the reach of the marketing strategies at a low cost.
Promotional Marketing: Its objective is to incite the need and desire for a product or service.
In this type of marketing, gifts, free samples, raffles are offered to boost sales and build customer loyalty.
There are many types of marketing, consequently, you should use those that increase the chances of achieving your business objectives.
It is important that you analyze them very well and apply the one that best suits your audience.
Importance of Marketing
Marketing is not just an important part of business success; is the business.
It is in charge of “pumping oxygen and the necessary nutrients” to each part of the company.
Unlike the old days, marketing is not solely concerned with communicating the product to consumers: the activity is now found in all aspects of the business .
What does Marketing serve us for?
Now that you know what marketing is, you will know that its main purpose is to position your brand or product, especially if it is done with the help of a digital marketing agency . Mainly it will help you:
Create a corporate image
If you have still created your corporate image for us, marketing will help you correctly define your business image, in this way you can generate messages that catch the attention of your consumers and you will make your brand known.
In addition, you will be able to clearly describe what your company is about.
Marketing analyzes the products, or the service that your company offers, and then translates it into more attractive and easy-to-understand messages.
These messages will be focused on the final benefit that your customers will obtain when purchasing your products.
Remember, the idea is not to harass customers with a lot of words about your product, it is about communicating, effectively , what you will do for them.
Improve your advertising strategy
Marketing, together with good graphic design practices, will allow you to design a more attractive advertising strategy for your clients.
In this way you will transmit your messages in a clear way and according to the needs of your business.
One of the key elements of marketing is market research .
Through the information collected, you will be able to know, first-hand, the real needs that exist in the market and thus you can make a better decision that will take you on the right track.
5 Marketing examples
To help you better understand the concept of marketing, we have compiled a list of successful companies that have applied their principles and processes to run amazing campaigns.
marketing example uber
The famous brand that offers taxi service through a mobile APP, is always looking for new opportunities.
Initially they were introduced to the market to improve an existing service, but little by little they have evolved and increasingly offer more solutions to their clients and potential clients.
marketing example whirpool
In the Marketing process, analysis and research are key elements that will help you know the market you want to reach.
They are so important that big brands like Whirlpool are using them to create solutions that solve social problems.
The company developed a program to reach out to schools and help out with something basic: laundry. We invite you to watch the video, so that you better understand how they used the problem data, to give a solution.
Whirlpool – Care Counts ™ Program
Andes Bar 45
Marketing example Andes
Defining and creating a strategy is part of the marketing process.
It is about defining the strategy that helps you achieve success from the point of view of communication and marketing of your idea or business.
Market research is a guide that will help you draw up your strategy.
At this point, you need to define what, how, for whom and where you are going to do it. For this, it considers the three basic objectives: Addressing, Differentiation and Positioning.
With all this in mind, Andes Bar 45 found the perfect way to combine the what, how, where and to whom to say what they wanted to highlight about their product.
Andes Bar 45
Promotion is one of the pillars of marketing. This is where all the communication actions that you will design to promote your product fit.
Netflix is the perfect example to understand how to use the promotion to your advantage.
The brand created a totally different and fun way to promote one of its exclusive series . Let’s see:
Netflix’s Narcos “Spanish Lessons” Case Study
The pricing tactics within Marketing processes are diverse.
They range from their setting in competitive terms (profit margin, production costs, to the way of communicating them). Like the following example, in which there is a famous retailer company, as the protagonist.
Walmart | Price on the Jersey
Marketing Plan or Marketing Plan
An accurate and well-crafted marketing plan is essential for any business in the market.
Without a specific strategy you will hardly be able to be successful managing your business, and sooner or later, your company will feel the consequences of a lack of planning.
Having a well-defined marketing plan is crucial for physical companies or online businesses.
To create it you need a lot of creativity and imagination, but it is also important to use the appropriate strategy for your business, with your feet on the ground in relation to the budget.
For example, your company’s emails are responsible for effective communication with your customers and their task is to generate conversions, increase online traffic and even build brand and product awareness.
Email is a way of doing relationship marketing!
If you build a marketing plan online, or in traditional channels, you should always follow some essential steps that will help your company strategically .
Here are the 7 key components that you should consider when creating your business planning. Let’s see:
Research is one of the key points to start building a complete and well-developed marketing plan.
It is important that you identify where your company and your products are in the market ; and, mainly, where you want to go.
Don’t create a product and then look for consumers. Do the opposite!
Research what people need first, and only then think about the product.
This is an important part of the business plan of any company before starting the creation of new products and services, since nobody wants to have expenses creating and disseminating a product that few need, right?
Why is it so important to find out who your competitors are?
Because this way your company can identify how they are dealing with their customers and what strategies they are adopting to act in the market.
In this way it is possible to identify good marketing strategies for your company.
The more you research and know about the competition, the better! But remember, the idea is not that you copy their ideas.
Find alternative strategies that fit your company’s profile so you can differentiate yourself .
This is another important component of a marketing plan, as it directly influences your business.
Define a budget that fits into the financial plan of your company and make sure that there is an effective control of these expenses, so that they are not exceeded.
Price, positioning and brand
After analyzing the competition, use this information to define the price of your product or service, the way in which your product or service will be positioned in the market and the way in which you will inform your audience about what you offer.
Set real goals
Defining short, medium and long term goals is another essential step in building and implementing an effective marketing plan within your company.
But remember! You should not set unreachable goals, as this will only generate frustration on the team.
Determine achievable and realistic goals , according to the growth of your company. These goals will drive your marketing plan and influence your business in a positive way when achieved.
Monitor and analyze the results
Many times companies create excellent strategies and hire highly trained teams to put them into practice, but they do not measure the results.
In this way they do not have a record to understand how they reached the objectives, what were the indispensable steps and the difficulties along the way.
From the moment the marketing plan is put into practice, you must monitor the results of the actions and analyze if the results coincide with the objectives set.
Measurement and analysis cannot be neglected, in any case.
5 Steps to prepare a Marketing plan
Always keep these elements in mind when you create your marketing plan, so that no component is forgotten throughout the process and you achieve the success you want.
How to Define an Online Marketing Strategy
Once you have established your marketing plan and the objectives you want to achieve, you need to define how you are going to do it; that is: what is the marketing strategy that you are going to follow.
Whether you have an online business or a physical store, you are going to require a marketing strategy.
However, in this post we will only address online marketing strategies , so that you can substantially increase the sales of your company.
The digital marketing requires a knowledge of social networks , the search engine optimization ( SEO ), blogs, email lists, affiliate marketing and more.
If you still don’t recognize these terms, don’t worry, there are many companies that can help you define your marketing strategy.
Now, if you are ready to launch a business or a product, then you must research, create and track an online marketing strategy .
Next we will tell you what are the steps you must follow to define a successful strategy.
Study your competitors . Study your site, your sales processes, including your online marketing strategies.
Identify the current and past marketing strategies of your biggest competitors , so you know what works in your specific market, but now in the online environment.
Study your market . Decide if you are part of a niche market. If so, you will want to focus your strategy on that demographic, rather than covering all Internet consumers.
Choose your ideal consumer . Decide who your demographic is and your audience profile to guide your strategy. Focus the majority of your online marketing budget on your ideal demographic.
Mimic the successful marketing strategies of your competitors . Market research will tell you how many followers your competitors have on Facebook, or how many people comment on their blog posts.
This will indicate how the audience responds to each channel , and the most popular networks for your target audience should be first on the list to trigger your strategy.
Create a multifaceted online marketing strategy . If you want to increase the recognition of your brand, you must launch several marketing campaigns at the same time.
Develop your brand and branding . In marketing a brand and its image is as important as the strategy itself. You must make your company known. So choose a name, a trademark, a website, a letterhead, and a business plan before launching an online strategy.
C rea accounts of social networks and publishes interesting material every day . To attract followers, social media accounts and blogs need to be constantly updated.
Create or pay someone to write SEO articles . Articles that mention popular keywords related to your product, but also offer tips or advice, are a great way to introduce people to your product and help your website appear on the first pages of an Internet search.
Buy ads on sites that are tailored to your market . Communicate your brand image, videos, or other product information in banner ads. If you don’t have the skills to design an ad, hire a professional to create one for you.
Evaluate your ROI and repeat the strategies that were successful.
Marketing is nothing more than a series of activities that must be taken into account to promote the brand and promote, in a successful way, the exchange of your products or services with your customers.
Designing a good strategy is crucial to being successful online.
In this sense, marketing will help you define your business, create your image, establish objectives and identify the most suitable communication channels for your audience.
From these elements you can take the next step to define your digital marketing strategy .