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What Is Marketing? Definition, Benefits, And Strategies.

Marketing.

Marketing is the process of getting potential clients or customers interested in your products and services. The keyword in this definition is “process“. Marketing involves researching, promoting, selling, and distributing your products or services.

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Marketing is the process of getting potential clients or customers interested in your products and services. The keyword in this definition is “process“. Marketing involves researching, promoting, selling, and distributing your products or services.

 

This discipline centers on the study of the market and consumer behaviors and it analyzes the commercial management of companies in order to attract, acquire, and retain customers by satisfying their wants and needs and instilling brand loyalty.

 

 

Definition of Marketing

The definition of marketing is the action or business of promoting and selling products or services, including market research and advertising. Today, marketing is something that every company and organization must implement in its growth strategy. Many companies use marketing techniques to achieve their goals without even realizing it, as they work to promote themselves and increase sales of their product or service. These days, marketing is one of the key aspects of the business.

People often do not know exactly what marketing is and, when asked, they define it as selling or advertising. While these answers are not wrong, they are only a part of marketing. There are many other aspects to marketing like product distribution, promotion, designing and creating materials like landing pages and social media content, improving customer experience, doing market research, establishing market segments, and much more.

 

Marketing is very broad and encompasses all the strategies that help a company, brand, or individual achieve its objectives.

The 4 Ps of Marketing

According to E. J. McCarthy, the 4 Ps of Marketing are a simple formula for identifying and working with the essential elements of your marketing strategy.

Product. Having a product is key and is the root of all things marketing. A product could be anything that a company offers consumers to satisfy a need. The best thing to do is to decide on your product or service based both on the needs and motivations of consumers and how the product would benefit the consumer, rather than on the object’s physical characteristics or attributes.

Place. Strategic merchandising locations can be anything from an online store to a channel of physical stores across multiple towns or countries. The goal of the distribution strategy is to enable potential clients to have easy access to your products/services as well as offer a good experience throughout the purchasing process.

PriceHow you price your products and services is an extremely important part of the marketing strategy. This factor affects other factors such as:

The margin you hope to obtain.

What target market do you want to appeal to and what purchasing power do your consumers have? Do you want to enter the luxury market or the mass market?

The company’s financial goals.

How does the competition price their products and what possible product substitutes are there?

Trends and fads.

Increasing your price in order to give a better perception of quality.

Promotion. This refers to all the marketing and communication that is done in order to showcase the benefits of your product or service within the market. This is how you increase sales.

 

What Does Marketing Do for Your Business?

 

Marketing can help your business in countless ways but let’s take a look at a few of the most impactful ones.

  1. Raising Brand Awareness

This is important because it gets people acquainted with your brand and the products or services you provide. It also makes you memorable to customers who can begin to trust your brand, become loyal clients, and tell their network about you.

 

  1. Generating Traffic

Growing the number of visitors to your site means getting more qualified leads (lead scoring can help determine this) and ultimately increasing your sales. An effective marketing strategy will help you through this process.

 

  1. Increasing Revenue

Every business that wants to increase its sales and marketing can help achieve this goal through a variety of strategies like optimizing your website and SEO, creating email campaigns, performing A/B tests to pinpoint the best strategy for you, and much more.

 

  1. Building Trust in Your Brand

Creating a high level of trust in your brand leads to customer loyalty and repeat purchases. This not only increases revenue but also leads to great reviews both online and by word of mouth, which is still one of the most effective types of promotion.

 

  1. Tracking Your Metrics

Metric is incredibly helpful when it comes to creating your marketing strategy. They not only drive the strategy and help track its progress but also inform what can be adapted or adjusted to continually optimize your campaigns.

 

Different Marketing Strategies 

Marketing is not just one single strategy, but rather a combination of many different techniques and tactics. Below we’ve listed some essential marketing strategies that you should know about. Click on the red links to learn more about each of these strategies.

Marketing Plan: Discover what a marketing plan is, why you need to design one, and the keys to creating a strong plan. Without a marketing plan, a company or brand can’t reach its goals.

Digital Marketing: Digital marketing is the discipline of marketing that focuses on developing a strategy solely within the digital environment.

Direct Marketing: Direct marketing is a type of campaign based on direct, two-way communication that seeks to trigger a result from a specific audience.

Email Marketing: Email Marketing is one of the most profitable and effective techniques in terms of return. Naturally, it consists of sending emails to your audience, but make sure to define your segments well in order to be effective.

Mobile Marketing: Mobile Marketing is a broad concept that brings together all marketing campaigns and actions focused exclusively on mobile platforms and applications (i.e. smartphones and tablets).

Viral Marketing: Having something go viral is every company’s dream. Viral Marketing spreads from one person to the next and is capable of going incredibly far incredibly fast.

Performance Marketing: Performance Marketing is a methodology that applies various marketing methods and techniques and guarantees advertisers that they only have to pay for achieved results.

Inbound Marketing: This methodology focuses on creating valuable content to attract qualified web traffic and work towards the final sale.

 

The History of Marketing 

Do you know how marketing has evolved over time?

Not too long ago, marketing mostly consisted of outbound marketing, which meant chasing potential customers with promotions without really knowing if that person was interested in purchasing. Thanks to the digital transformation and the rise of new communication channels, marketing has drastically changed over the years.

 

To understand how marketing has changed, let’s take a look at this timeline HubSpot has assembled showcasing the innovations of this industry.

1450-1900: Printed Advertising

1450, Gutenberg invents the printing press. The world of books and mass copies is revolutionized.

1730, the magazine emerges as a means of communication.

1741, the first American magazine is published in Philadelphia.

1839, posters become so popular that it becomes prohibited to put them in London properties.

1920-1949: New Media

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1922, radio advertising begins.

1933, more than half of the population in the United States (55.2%) has a radio in their home.

1941, television advertising begins. The first advertisement was for Bulova watches and reached 4,000 homes that had television.

1946, more than 50% of the homes in the United States already had a telephone.

1950-1972: Marketing is Born and Grows

1954, for the first time revenue from television advertising, surpasses revenue from radio and magazine ads.

Telemarketing grows as a means of contacting buyers directly.

1972, print media suffers exhaustion of the outbound marketing formula.

1973-1994: The Digital Era Flourishes

1973, Martin Cooper, a Motorola researcher, makes the first call through a cell phone.

1981, IBM launches its first personal computer.

1984, Apple introduces the new Macintosh.

1990-1994, major advances in 2G technology, which would lay the foundation for the future explosion of mobile TV.

1994, the first case of commercial spam through e-commerce is produced.

1995-2020: The Era of Search Engines and Social Media

1995, the Yahoo! and Altavista search engines are born.

1995-1997, the concept of SEO is born.

1998, Google and MSN launch new search engines.

1998, the concept of blogging arises. By mid-2006, there are already 50 million blogs worldwide.

2003-2012, the era of inbound marketing begins.

2003-2004, three social networks are launched: LinkedIn, MySpace, and Facebook.

2005, the first video is posted on YouTube

2006, Twitter is born.

2009, Google launches real-time searches.

2010, 90% of all American households have a cell phone. Instagram is created in October 10.

Young people between the ages of 13 and 24 spend 13.7 hours on the Internet, compared to 13.6 hours watching television.

2011, Snapchat is created, driving even more young users to their phones and fueling the social media app craze.

2012, there are already 54.8 million tablet users.

2014, the rise of influencer marketing begins. Users and brands alike begin to realize the power of social media users with large followings. Marketing tools for Instagram and other platforms abound

2014, for the first time ever mobile usage outweighs desktop usage. More users are checking social media, reading emails, and making purchases on their phones.

2015-2016, big data and marketing automation are explored and used more robustly to advertise to users.

2018video marketing continues to grow, especially with Instagram’s launch of IGTV. Video content is no longer just limited to YouTube and Facebook.

2019-2020, Move over millennials! Gen Z is the new focus and they have a hot new app: TikTok.

It will be interesting to see where marketing continues to grow. With new world events, like the COVID-19 crisis of 2020 causing millions of people to stay indoors, social media and marketing trends are sure to change, and we’ll be right here to track them.

Point of View on Marketing

Marketing is any strategy or action which can help a company achieve its goals, increase its sales and profits, and/or have improved brand perception.

 

Here at the secret times, we live and breathe marketing and advertising; it’s in our DNA!

We are experts in attracting users to our client’s websites or landing pages through marketing acquisition.

the secret times is a performance marketing agency. We analyze each new project we get and, if we see it as viable, we can ensure certain results according to a client’s goals. You might be thinking, “what’s so special about performance marketing?” The special thing is that a client only pays when results are achieved!

 

Who is Dr. Philip Kotler?

Dr. Philip Kotler is the S.C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management, Northwestern University where he has been on the faculty since 1962.

He is the author of 57 books, including Marketing Management (now in its 15th edition), Principles of MarketingKotler on Marketing: How to Create, Win, and Dominate Markets, and more recently Marketing 4.0: Moving From Traditional to Digital.

Dr. Kotler has an incredible international presence— his books have been translated into approximately 25 languages, and he regularly speaks on the international circuit.

In 2005, The Financial Times surveyed 1,000 executives in 25 countries about the Most Influential Business Writers & Management Gurus, and Dr. Kotler ranked fourth after Peter Drucker, Bill Gates, and Jack Welch.

He is ranked by the Wall Street Journal as one of the top six most influential business thinkers and he is widely regarded as the Father of Modern Marketing.

Dr. Philip Kotler is known around the world as the “father of modern marketing.” So, what Peter Drucker is to management, Philip Kotler is to marketing.

In 2005, The Financial Times surveyed 1,000 executives in 25 countries about the Most Influential Business Writers & Management Gurus, and Dr. Kotler ranked fourth after Peter Drucker, Bill Gates, and Jack Welch.

For over 50 years he has taught at the Kellogg School of Management at Northwestern University, and his 1962 textbook Marketing Management (now in its 15th edition) is the most widely used textbook in marketing around the world. He is also the author of nearly 60 books.

In his autobiography, Dr. Kotler takes the reader on a trip around the world and traces the development of modern marketing, while introducing fascinating people and sharing stories about his lifelong love of learning.

He covers the basics of marketing, as well as what organizations continue to get wrong with their approaches to strategy, marketing and customers.

To me, the most interesting thing of all in his autobiography was how right he has been about marketing, even 50 years later. And how the theories and positions he has advanced in marketing are being further proved and vindicated with each year that passes.

And while this book looks back in time, I can think of no better book to read in order better understand where marketing is heading.

Dr. philip Kotler on wikipedia

 

Some of Dr. Philip Kotler books:

My Adventures in Marketing: The Autobiography of Philip Kotler by Philip Kotler

Marketing 4.0: Moving from Traditional to Digital by Philip Kotler (Marketing Book Podcast Interview)

Where the Suckers Moon: The Life and Death of an Advertising Campaign by Randall Rothenberg.

Marketing Management.

Market Your Way to Growth: 8 Ways to Win

Social Marketing: Behavior Change for Social Good

Advancing the Common Good: Strategies for Businesses, Governments, and Nonprofits

Principles of Marketing (16th Edition)

Confronting Capitalism: Real Solutions for a Troubled Economic System

Marketing Insights From A to Z: 80 Concepts Every Manager Needs to Know

Never Stop – Winning Through Innovation

Ten Deadly Marketing Sins

 

How Can The Secret Times Help You?

in secret times you will find thousand martial which help to get more expertise in your subject and ahead of your goals, just refer us to your friend and your loved one, you can download,

My Adventures in Marketing books are below:

 

My Adventures in Marketing: The Autobiography of Philip Kotler [Print Replica] Kindle Edition
by Philip Kotler (Author)

ISBN-10 : 0990576760
ISBN-13 : 978-0990576761

“141 My Adventures in Marketing by Philip Kotler” The Marketing Book PodcastDOUGLAS BURDETT

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  1. “141 My Adventures in Marketing by Philip Kotler” — DOUGLAS BURDETT
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