April 22, 2024
WHAT IS MARKETING?

WHAT IS MARKETING?

Usually, when someone hears the word in an ordinary conversation that marketing, they immediately think about the ads. This isn’t really a bad approach, but it doesn’t completely cover the point. We cannot get away with the definition of a concept with an explanation of advertising, the more complex it is because marketing does not have a standard, exact definition.

Nonetheless, there are good definitions that summarize the meaning of marketing in a concise and understandable way. I chose three of them.

THE CONCEPT OF MARKETING

The first is the “official” definition of the AMA (American Marketing Association), which is reviewed and approved or amended every 3 years. For this, 5 active research experts will be invited.

The history of classic (offline) marketing

In order to have a better understanding of the concept of marketing in today’s sense, I think it’s important to know the history of marketing as well as each era. A short break hour feeling follows.

1. PRODUCTION ORIENTATION

Until the 1850s, demand still exceeded supply, so the main goal was to increase the production of goods. Almost the only goal was for companies to achieve the highest possible production numbers, but this was not at all accompanied by prior knowledge of consumer needs. So they couldn’t satisfy it, it was just overproduction.

2. SALES-ORIENTED ERA

From the 1850s onwards, greater emphasis was placed on learning about consumer preferences. The industrial revolution has led to an increase in the supply of goods, an increase in consumer incomes, and thus in living standards. The companies used one-sided marketing communication and methods and tools to increase the sales of their products. So that’s when the fight for customers started.

3. CUSTOMER-ORIENTED ERA

From the 1940s onwards, in addition to products, there was a growing demand for services. The companies started to engage in marketing activities, which started with market research, i.e. market research. Based on this, the products were designed, prices were set and sales were planned.

It was then that marketing was born as a discipline.

4. A SOCIALLY-ORIENTED ERA

It was during this period (1980-1990) that the marketing approach was completed and modern marketing methods were developed. The phenomenon of irrational consumption and the accumulation of products appeared. Furthermore, dependence on the purchase and consumption of products has emerged among customers. The role of consumer protection and environmental protection has also been strengthened, and the authorities have recognized that consumer needs must not always be allowed to take place. Special and criminal taxes (such as alcohol and tobacco) have also appeared for illicit products, market-priced products, and certain products.

5. GLOBALIZATION

From the 1990s, the approach to market extended to other areas of society (art, education). Non-profit marketing appeared and transnational and multinational companies appeared in turn.

So mass marketing is widespread.

ONLINE MARKETING

In online market, we use the Internet to build brands, and promote and sell our products and services. Synonymous with digital marketing. This term is also often used.

MARKETING TOOLS

Marketing has many tools to help you achieve your goal. The first of these is the classic tools to look at before cutting into online market (paid advertising, search engine optimization, social media market). If you are not aware of the basics of market, how would you put it into practice?

OFFLINE DEVICES

Direct market: Direct, personal contact marketing and sales (part of telemarketing, email, etc.)

Telemarketing: an activity used primarily for market research and customer satisfaction surveys

Postal DM letter: advertising by post

CRM system: a system for managing customer relationships

Radio: audio advertising on national and local radio channels

TV advertising: advertising that disrupts the airtime of national and local television channels

Billboard, billboard: the most spectacular means of visual communication outdoors or indoors

Point-of-sale advertising (POS): forms of advertising that target the customer at the point of sale (for example, in a shop) with leaflets, catalogs, billboards, tastings, announcements, etc.

Exhibitions, events, fairs: complex marketing communication based on the presentation of products + services and personal contact

Etc.

ONLINE TOOLS

Website: A quality website is the foundation of a modern business, not to mention web stores. For stability on WordPress, it is recommended to use the Elementor or DIVI template.

Content market: content is king, meaning content is king. This suggests adding value instead of “catch-up” marketing: think of YouTube videos, instructive blog posts, and more.

Email marketing: email market is still not dead if used properly will work as a really good channel. Almost unbeatable in terms of value for money.

Search engine optimization (SEO): If you already have a well-functioning website in line with today’s trends, we also want users to find it through various search engines (such as Google). This is where search engine optimization helps us rank certain keywords in the top results with our content.

Paid Ads (PPC): If you want fast results, you may want to run click-based paid ads on a variety of platforms (Google Ads, Facebook & Instagram Ads, YouTube, LinkedIn, Twitter, etc.).

Social Media Market (SMM): I don’t think I need to present social media market separately: this includes all marketing activities on social platforms. Nowadays, among young people e.g. Instagram and TikTok are pushing ahead.

Online PR and Influencer Marketing: Opinion leaders have always been in classic market as well, but today we call them influencers.

Etc. You can find out more about market tools by clicking on the link. If you click on it, it will open in a new browser tab, so you won’t lose this article. In the following, I would like to present one or two more market models, which are part of understanding the complex system.

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“Discover, Moreover, insights in our article titled About [Digitalization]. Explore now for more valuable information!

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