Marketing is the pursuit of value to satisfy the needs and wants of a consumer market. The science and art of creating and delivering products or services that serve the public interest. Thus, marketing manages to create value for customers and also profits for companies.
Have you ever wondered how some companies manage to attract so many customers? What do they do to stand out in the market? Why do their products sell so much while others are stranded?
The secret to success certainly goes through marketing.
Those who dominate marketing know everything about the market. How to position themselves, how to win customers, how to deliver value to their audiences, and, of course, how to generate profit and competitiveness with all this.
However, we are talking about a set of knowledge, it is not just about selling products. It encompasses a series of concepts, strategies, channels, and methodologies. Which are constantly changing over the years to adapt to social transformations.
To dominate the market, then, one must master this science. That’s why we’re going to tell you everything you need to know from Traditional Advertising to Digital Marketing!
In this article, you will learn:
What is Marketing?
The Origin of Marketing
product life cycle
4 Ps of Marketing: Understand the Marketing Mix
types of marketing
What is market research?
How to create a good marketing plan
Learn more about marketing
4 successful marketing cases
Marketing is an area focused on generating value for the product, service, or brand of a business. With the objective of conquering and retaining customers.
To understand what marketing is, then, let’s turn to some representative names and institutions in the area.
The American Marketing Association (AMA). Which represents marketers in the United States, provides the following definition:
“Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for consumers, clients, partners, and society at large”.
This definition shows the scope of the marketing concept. Also note that the focus of this activity is not selling products to customers, as many might think.
Marketing works with the generation of value, and this must happen in the perception of different audiences about the cost-benefit that the company delivers.
The Chartered Institute of Marketing, which represents the field in the UK, defines marketing as:
“The management process responsible for identifying, anticipating and satisfying customer needs at a profit”.
Therein lies an important contribution to understanding what marketing is: customer needs.
They are inherent to being human – marketing does not create them. However, this activity must know how to perceive people’s needs and awaken the desire to supply them.
This definition is in line with what Philip Kotler says. Who defines marketing as: “the science and art of exploring, creating and delivering value to satisfy the needs of a target audience at a profit.
Marketing identifies unfulfilled needs and wants. It defines, measures, and quantifies the market size and profit potential. It pinpoints which segments of the company are able to best serve and creates and promotes the most appropriate products and services.”
In a nutshell, he defines marketing as “meeting needs while generating profit”.
These definitions also do not miss the central objective of companies: profit. After all, this is what guarantees its survival and competitiveness in the market ― and this is one of the reasons for marketing exists.
But it is worth mentioning that marketing can also be adopted by non-profit organizations – public institutions and NGOs, for example. In these cases, marketing objectives turn to return in other ways, such as engagement or brand strengthening.
Now, since we’re talking about marketing objectives, let’s see a little more about them.
Do you know what marketing is for? Anyone who thinks it’s just for selling products is wrong. Marketing objectives can be much broader and help to achieve different results for companies.
Let’s see some of them now.
1. Sell more
Sell: Yes, this is one of the main goals of marketing for organizations that place products or services on the market.
It is the role of marketing, then, to prepare strategies so that they meet customer needs and increase the chances of successful sales.
2. Build customer loyalty
But the role of marketing doesn’t end with selling. The company must remain close to the customer so that he does not forget the brand and buy again.
It is worth remembering a classic phrase: retaining customers is much cheaper than capturing new buyers.
3. Increase visibility
Another objective that marketing helps to achieve is to increase the visibility of the brand and its products.
However, it is useless to seek visibility with an audience that has nothing to do with the company. To optimize marketing investments, strategies must be focused on the right people: those who are most likely to become customers.
4. Manage a brand
Marketing is all about branding. Building a brand happens in the minds of consumers.
And for them to absorb the brand’s image, it needs to make its values and purposes tangible through marketing strategies ― in an advertising piece and in product pricing, for example.
5. Build good relationships
Marketing is also all about relationships. By strengthening ties with its audiences (not only customers but also partners, employees, etc.), a company can strengthen its brand.
Sales and loyalty are a consequence of this process.
6. Educate the market
Content production is at the heart of marketing today. Blog posts, magazine and newspaper articles, social media, and other channels help build brand authority while educating consumers about the solutions the company offers.
The intention is not to sell the product directly, but to show how it can be useful.
7. Engage employees
Marketing strategies don’t just aim outside the company. Within its borders, there is an audience that is essential for the success of the business: employees.
Therefore, marketing – or rather, end marketing – can also help to engage the internal public, make them happier with their work and make them propagators of the brand.