A strategic and
significant difference? Every brand should
have a story to tell.
But are you telling the right
story?
Is your brand and story reaching the right people, potential purchasers?
I have taught Marketing and Advertising since 1975. I have been a Marketing expert in court for 16+ years. I've added my collection of Marketing definitions or the different definitions of the term, Marketing.
- Marketing is the process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return. (Principles of Marketing, 17e, Kotler and Armstrong, 2018)
- 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. (Definition approved by the American Marketing Association, Board of Directors, July 2013.[1]
- Marketing: 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. (Marketing Management 15e, Kotler and Keller, 2016)
- Marketing Management is the art and science of choosing target markets and building profitable relationships with them. (Principles of Marketing, 17e, Kotler and Armstrong, 2018)
- The aim of Marketing is to know and understand the customer so well that the product or service fits him (her/it) and sells itself. (Peter F. Drucker)
- The purpose of Marketing is to sell more stuff to more people more often for more money in order to make more profit. (Sergio Zyman)
- 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. The previous definition: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The American Marketing Association (established in 1937 by visionaries in marketing and academia) unveiled their definition used as the official definition in books, by marketing professionals and taught in universities. The American Marketing Association revisits the definition for marketing every five years in a disciplined effort to reflect on the state of the marketing field. This process, as laid out in the Association's bylaws, is guided by a committee whose members represent a cross-section of the marketing industry; the committee was formed in late 2006, under the leadership of Donald R. Lehmann, the George E. Warren Professor of Business at Columbia Business School in New York. (www.ama.org; http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx)
- The Marketing Concept is a philosophy. It makes the customer, and the satisfaction of his or her needs, the focal point of all business activities. It is driven by senior managers who are passionate about delighting their customers. Marketing is not only much broader than selling; it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of the final result, that is, from the customer's point of view. Concern and responsibility for marketing must therefore permeate all areas of the enterprise. (Peter F. Drucker)
- Marketing is getting the right product or service to the right people (target market), at the right time, at the right place, at the right price, with the right partners, plus right communication, promotion, passion and presentation.
- Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy the perceived needs, wants, and objectives of individuals and organizations. (Contemporary Advertising, 15e, Arens, Weigold, 2017)
- Marketing is the process of planning and executing the conception, pricing, promotion and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives. (Understanding Business, Nickels, McHugh, McHugh, 2008)
- Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client. (Basic Marketing, A Marketing Planning Approach, 19 Edition, Perreault, Cannon and McCarthy, 2014)
- Marketing is the process of creating, distributing, promoting and pricing goods, services, and ideas to facilitate satisfying exchange relationships with consumers and to develop and maintain favorable relationships with shareholders in a dynamic environment. (Foundations of Marketing, Third Edition, Pride and Ferrell, 2009)
- The AMA (American Marketing Association) defines Marketing as 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. This definition considers all parties involved in the marketing effort: members of the producing organization, resellers of goods and services, and customers or clients. (A Preface to Marketing Management, 13 edition, J. Paul Peter, James H. Donnelly, Jr. 2012; Advertising, 2E, Arens, Schaefer, Weigold, 2015)
- Marketing is the process of conceiving, pricing, promoting and distributing ideas, goods and services to create exchanges that benefit consumers and organizations. (Advertising & Integrated Brand Promotion, 5e, O’Guinn, Allen, Semenik, 2009)
- Knowledge-based marketing requires a company to master a scale of knowledge: of the technology in which it competes; of its competition; of its customers; of new sources of technology that can alter its competitive environment; and of its own organization, capabilities, plans, and way of doing business. Armed with this mastery, companies can put knowledge-based marketing to work in three essential ways: integrating the customer into the design process to guarantee a product that is tailored not only to the customers’ needs and desires but also to the customers’ strategies; generating niche thinking to use the company’s knowledge of channels and markets to identify segments of the market the company can own; and developing the infrastructure of suppliers, vendors, partners, and users whose relationships will help sustain and support the company’s reputation and technological edge.
The
other half of this new marketing paradigm is experience-based marketing, which emphasizes interactivity, connectivity, and creativity. With this approach,
companies spend time with their customers, constantly monitor their
competitors, and develop a feedback-analysis system that turns this information
about the market and the competition into important new product intelligence.
At the same time, these companies both evaluate their own technology to assess
its currency and cooperate with other companies to create mutually advantageous
systems and solutions. These close encounters—with customers, competitors, and
internal and external technologies—give companies the firsthand experience they
need to invest in market development and to take intelligent, calculated risks.
(Harvard
Business Review, published in February 1991, https://hbr.org/1991/01/marketing-is-everything)
Visit here for more insights and true Marketing and Advertising Trivia.
I am a senior Forensic Marketing Expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC plus I teach Marketing and Advertising. I own a copyright for this concept, the Nine P’s/9 P's ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
The Nine P's/9P's help identify marketing problems in a number of areas and help develop marketing’s objectives, strategies, tactics and solutions. The Nine P's are insightful. In Marketing. the "Customer," or potential customers are king, but are missing in the 4P's. There needs to be more focus on the "Customer," or "People." "People," market segments utilizing demographics, geographics, psychographics, behavioral characteristics and technographics are a vital component of the 9P's.
I consult and teach using the concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, Marketing and Brand Managers develop plans, strategies and tactics. The Nine P’s include these important components:
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 54 stimulating questions and answers at Londre Marketing Consultants, LLC.
Here to assist.
Visit here for more insights and true Marketing and Advertising Trivia.
I am a senior Forensic Marketing Expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC plus I teach Marketing and Advertising. I own a copyright for this concept, the Nine P’s/9 P's ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
The Nine P's/9P's help identify marketing problems in a number of areas and help develop marketing’s objectives, strategies, tactics and solutions. The Nine P's are insightful. In Marketing. the "Customer," or potential customers are king, but are missing in the 4P's. There needs to be more focus on the "Customer," or "People." "People," market segments utilizing demographics, geographics, psychographics, behavioral characteristics and technographics are a vital component of the 9P's.
I consult and teach using the concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, Marketing and Brand Managers develop plans, strategies and tactics. The Nine P’s include these important components:
- Planning and Research
- People (Segmentation and Targeting)
- Look and analyze potential, new, existing and repeat customers and users.
- "People" or targeting has almost always been left out of the traditional "Marketing Mix," almost every diagram includes the four P's with Product, Promotion, Place and Price.
- Place "consumer" or "People" or "potential buyers" in the middle of a circle. Find information or data on them.
- Add the other components in the nine P's. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the buyer, "customer," or "People," in both planning ad implementation.
- To understand your "People" or market segments, it may utilize many characteristics, including demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P's of Marketing.
- To understand your "People" or market segments, it may utilize many characteristics, including demographics (such as age, family size, family life cycle, gender, income, occupation, education, religion, race, culture, generation, nationality, and social class), geographics, psychographics (buyers are on basis of psychological/personality traits, lifecycle, values), behavioral characteristics (needs and benefits, decision roles, user and usage-related variables, occasions, user status, usage rate buyer-readiness stage, loyalty status, attitude and multiple bases) and technographics (potential buyers may or may not have the software and computer skills. Think employees here too.) which may be a vital component or components of the 9P's of Marketing.
- Once a target market is chosen, the organization can develop its marketing strategies to target a market segment or marketing segments.
- Simply it's about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.
- Product and Services
- It's the goods and service combination the firm offers to the target market ("People," including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies.
- A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need.
- Place (Distribution)
- Price or Pricing
- Promotion
- Partners:
- Partnerships and teams that feel a connection to the work and the purpose are going to speak far more passionately together and to their “people,” and with far more influence.
- Working with others and organizations which take part in an undertaking with another or others, in a business or company with shared risks and profits.
- Also referred to as Alliances.
- With "Partners" and your Marketing efforts, it is vitally important to partner and align with firms that have similar corporate philosophies. Simple but complex and difficult, have agreed upon objectives and strategies.
- Presentation
- Passion
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 54 stimulating questions and answers at Londre Marketing Consultants, LLC.
Here to assist.