Since there are so many different definitions that describe marketing, let’s start off with a basic definition from the dictionary, everyone loves those. Marketing is defined, on dictionary.com as simply; “the act of buying or selling”. Well, maybe that was a little too basic. It can be described as a deep word since it covers many different aspects. Maybe if we try a definition from the American Marketing Association, marketing as a term will be clearer. They say that 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.” There’s the definition we were looking for! It may be harder for some who don’t pay attention to marketing to grasp so let’s break it down.
Think of marking as an umbrella term covering advertising, product pricing, distribution, design elements, etc. Each element having it’s own meanings and jobs
First, the business or product has to be created and designed. This could require a choosing color scheme, designing a full logo or just general editing of designs. After creation, there needs to be some sort of communication between company and consumer. People need to become aware that your product is out there and it’s amazing! Advertising is a main aspect of marketing and helps get the word out on products and businesses. And did you know that marketing companies also cover delivering? That’s right! Your marketing company can cover all shipping details – something you don’t have to focus on which can help you focus on running your company. Keeping a marketing company around can be very beneficial in the long run as they can also advertise coupons, special pricing and sales to your customers. They even now cover social media as well- handling sites like a company’s twitter, Facebook or even a blog!
I can hear you now
“Yeah but, do we even need marketing?” Without it, you will not get the financial reward your product or company deserves.
“It’s probably just an extra cost that we can handle ourselves”… Yes, you could always go that route but marketing companies make sure that you have the best exposure you can in the market.
I guess what I’m trying to say is without marketing, no matter if you have top employees, and a fantastic idea, your product could stay hidden under all the other products in the market. Investing in a good marketing company will, in turn, help you make more money because after all, it takes money to make money.