The marketing and what exactly is it?
We have talked a lot about marketing topics in this LinkedIn newsletter and blog posts. I have also shared a lot about marketing content with you, including definitions, extensions, developments, frameworks, and some cases, etc. So, I will start with this content. If I want to further trace the practice of marketing, in today’s content, I would like to discuss with you a somewhat pragmatic but important question: What exactly is marketing? So before continuing to read below, you can also give your answers and give it a try.
You may not be able to give a definition very well, but I guess you can certainly cite many impressive cases, such as KFC’s “Crazy Thursday” event, The Black Friday Sales, Adidas’s “Just do it” advertising slogan, and cross-career collaboration of Messi and Kobe Bryant starred in video commercials to promote the Turkish Airlines, and so on. We would say that these brands are very good at marketing.
These are indeed marketing, but they are not “marketing” as defined in our dictionary. Co-branding and advertising are only a small part of marketing.
So, what exactly is marketing?
Marketing guru Kotler gave a definition: “The process by which an enterprise creates value for customers and establishes a solid relationship with them to obtain benefits from customers.” It sounds confusing, but actually, when you break it down, you only need to remember 3 key words:
The first one is “creating value”. The products or services provided by the enterprise must be valuable to customers. This is the basis of marketing.
The second one is “obtaining benefits in return”. Enterprises are not charities. When enterprises create value for customers, they must obtain corresponding benefits from customers in return. This is the basis for all business activities to continue.
The third one is “building strong relationships”. The relationship between an enterprise and its customers is usually not a one-time transaction but multiple transactions and interactions over a longer period. Therefore, how to maintain and lock in existing customers is also a question that the marketing must consider.
Take our column as an example. This column can be regarded as a product I provide and the value I create for others. I use this channel to promote courses or consulting services, and if I match your needs for learning marketing, we will have a transaction, you will receive knowledge services, and I will receive monetary rewards or return in money.
Of course, we will still interact in this course in the future, and you may also follow my LinkedIn account, which forms the maintenance of customer relationships. If I offer another course in the future, I will be able to tell you through the channel of knowledge, and you will come back to purchase or use our consulting services. This is a minimalist breakdown of the definition of marketing.
If you read what I just broke down above, you can feel that marketing is not just about promotion; it also involves a series of business activities. You have to consider the value of the product, have channels, find ways to maintain long-term contact with customers, etc..
There are so many things we can do here, and there are so many things. How can we analyze and execute marketing activities simply and quickly? We’ll discuss this in the column next week.
Have a trouble in Marketing, any question or challenge? Reach out to Mister Sivann’s Newsletter – Mister Sivann & The Answer. on LinkedIn or on blog at sivann.com/blog/
