Marketing Resources and Sources for the brand manager, advertising manager or Marketing manager.
If you need a definition of Marketing and its processes, I have more than a dozen. Nearly two dozen.
#1: 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,
18e, Kotler and Armstrong, 2021)
#2: 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, 2017). #3: 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)
#4: Marketing Management is the art and science of choosing target markets and building profitable
relationships with them. (Principles of Marketing, 18e, Kotler and Armstrong, 2021)
#5: 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)
#6: 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.
#7: 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 American Marketing Association, "About AMA: Definition of Marketing,"
https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx (cited and approved in 2017; confirmed on
5/25/2022)
#8: 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.
#9: 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)
#10: 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)
#11: 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)
#12: 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)
#13: 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)
#14: 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)
#15: 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)
#16: 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, 2019)
#17: 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)
#18: Market-centered company: A company that pays balanced attention to both its customers and
competitors in designing its marketing strategies. (Principles of Marketing, 18e, Kotler and Armstrong,
2021)
#19: The Mantra of Marketing: Marketing’s job is to create, communicate and deliver value to a target market
at a profit. Market Management needs to “Create Value,” “Communicate Value” and “Deliver Value.”
There are three businesses here: Product Management; Brand Management; and Customer
Management. (Kotler at London Business Forum)
#20: Marketing Mix: The set of tactical marketing tool -- product, price, place and promotion -- that the firm
blends to produce the response it wants in the target market. (Principles of Marketing, 18e, Kotler and
Armstrong, 2021)
#21: Marketing Process consists of:
- Analyzing opportunities
- Developing marketing strategies
- Planning marketing programs
- Managing the marketing effort
#22: Marketing Research is the function that links the consumer, customer and public to the marketer
through information -- information used to identify and define marketing opportunities and problems;
generate, refine, and evaluate marketing actions; monitor marketing performance; and improve
understanding of marketing as a process. Marketing research specifies the information required to
address these issues, designs the method for collecting information, manages and implements the
data collection process, analyzes the results, and communicates the findings and their implications.
(American Marketing Association, approved October 2017)More insights into true Marketing and advertising practices and examples? Including smart Marketing trivia? Visit right here. I am a senior Forensic Marketing Expert, Advertising expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC.
I created the 9P's of Marketing.
I own a copyright for the Nine P’s/9 P's of Marketing ©2007 concepts and Marketing practices, which augment the 1960's Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association (AMA), Neil Borden and Jerome McCarthy in the study and practice of Marketing.
The Nine P's/9P's of Marketing help identify marketing problems in a number of strategic areas and help develop profitable marketing’s objectives, strategies, tactics and solutions. The 9P's are insightful. They were created for the digital age.
In Marketing, the "customer," or potential consumers should be the center of the universe or "king," but they are missing in the 4P's. I feel from my study and research that there needs to be more focus on the "Customer," or "People." "People" or market segments, which utilize demographics, geographics, psychographics, behavioral characteristics and technographics, are vital, learning components of the 9P's.
I consult and teach using these Marketing concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, brand, advertising and marketing managers develop plans, strategies and tactics. The Nine P’s include these important concepts, practices and components:
- People (Segmentation and Targeting)
- In my 9P's, I stress that firms need to look and analyze potential, new, existing and repeat customers and users.
- It's a special way at looking at diversity, if you review your gender, racial and other factors to your employees, customers, management, talent, board of directors, suppliers, partners, agencies, production and more.
- To understand your "People" or market segments, you will need to or may need to 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.
- Look at your actual customers. Then once a target market is chosen, the organization can develop its marketing strategies to target a market segment or market segments
- It’s easy to market toward demographics, but brands can’t connect with people unless they learn how they think. By developing mindset-based marketing strategies, brand decision-making can better resonate with these segments, targets and audiences to increase consumer loyalty.
- Brand managers need to look at at their customers and/or potential users. Do you understand your potential customer's purchase and usage touchpoints, their habits and how they engage with your brand? Competing for their attention?
- Place "consumers," "People" or "potential buyers" in the middle of a circle. Find information or data on them. Add the other components in the other nine P's.
- Post Covid 19 pandemic, I'm seeing "People" want an exceptional buying experience, which includes ethics and the company’s values. People are caring about convenience, comfort, ethics, and sustainability. Look at home delivery of meals and everything on Amazon and Walmart or Target.
- “People” or consumers prefer to buy “Products” from brands that share their values and “purpose-driven” movements.
- Targeting mindsets allows brands to connect with consumers on an emotional level, which positively affects brands’ bottom lines.
- Consumer and shopping data, plus first-party data can also help brands identify what people find valuable and important. You need to know where they live, how they work and play?
- "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.
- 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.
- Product and Services
- Under the 9P's, it's the goods and service combination the firm offers to the target market, 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:
- I’m finding that “People” or potential customers in my 9P’s, actual consumers are no longer buying “Products” and services based solely on “Price” and product quality.
- An IBM study found that Nearly six in 10 consumers ("People") surveyed are willing to change their buying habits to reduce environmental impact. They found that over 70% would pay a premium of 35%, on average, for brands and products that are sustainable and environmentally responsible.
- Planning
- Promotion:
- There are eight (8) major, strategic components or communication elements which are personal and non-personal communication activities.
- The activities that communicate the merits of the overall product include:
- Personal Selling/ Sales Force: Sales persons
- Listen more than you talk. People who listen more, learn more, plus helps you position your service/product/solution or offering.
- Advertising: There's an expression "It is only creative if the product or service sells." I wanted to add "It is only good media spending if it sells."
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising)
- Interactive/Internet/Web, Digital Media, Social Media:
- Events and Experiences
- Public Relations/PR
- With inflation at increasing higher levels, we are seeing brick and mortar retailers needing physical traffic to survive. Gas prices at record levels are keeping customers from driving more. One stop shopping is more important than ever.
- Partners
- Presentation:
- Passion
For more on ideas, concepts and Marketing solutions: Go to LondreMarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s.
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 help. All the best.
