What is Marketing?
Marketing is actively promoting your material or product using any and all mediums available to you. It is essentially pushing out a message to obtain traction that result in sales. “Buy our product because it can do ‘x’” or “Buy our product because it does ‘x’ the best”, marketing can also take place through association, i.e. a celebrity endorsement that encourages fans of said celebrity to invest with your brand.
These are simple marketing terms but encompass what marketing is all about, marketing is very much a ‘push’ tactic, push as in you identify your prospects, anticipate what it is they want and satisfy their needs with your product. Marketing is the art of placing the right product in the right place, at the right price, at the right time.
Marketing can be described through the four P’s, derive your strategy around these four P’s and you will be well on your way to developing your marketing strategy, the four P’s are:
Product or Service
What exactly is your product, what makes it unique?
Where would your product be best placed to interact with consumers and encourage sales?
Once you completely understand your product and what it offers you will have to define a price, how much of a profit margin you will have and what similar products are priced at can all have a bearing on price.
Promotion looks at the many ways to disseminate relevant product information to consumers. Promotion includes elements such as: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more.
This means everything you do around your product, the design of campaigns, the ideas behind them, the measurement and psychology of consumer behaviour all count as part of the marketing process.
Marketing is the management process of creating an image designed to attract customers to buy specific products or services. It is the act of creating and retaining customers.
Branding is different
Branding comes before any marketing and also predefines the marketing strategy, your brand is what sets you apart from your competitors, it is how you are identified by your consumers. It is what your company stands for; it is your promise to the consumer.
A great example of branding is Apple, the first thing you think of when you think of Apple is high tech, innovative, sought after products, this is partly due to the marketing efforts that surrounds Apple but has more to do with consumer opinion of the brand itself. A well thought of brand encourages consumers to invest due to the standing of the brand, that could be through a reputation for reliability, customer service, innovation and so on.
Branding is how your company is recognized, whereas marketing says “come buy me”, “we do this and we are great at it”, branding says “This is what I am. This is why I am here. If you agree and you like me, you can buy me, support me, and recommend me to your friends.”
•Deliver the message clearly
• Confirm your credibility
• Connect with your target prospects emotionally
• Motivates the buyer
• Concrete User Loyalty
• To succeed in branding you must understand the needs and wants of your customers and prospects. You do this by integrating your brand strategies through your company at every point of public contact.
• Your brand resides within the hearts and minds of customers, clients, and prospects. It is the sum total of their experiences and perceptions, some of which you can influence, and some that you cannot.
Differences between branding and marketing.
• Branding is why. Marketing is how.
• Branding is long-term. Marketing is short-term.
• Branding is macro. Marketing is micro.
• Branding defines trajectory. Marketing defines tactics.
• Branding drives enduring reputation. Marketing drives periodic sales.
• Branding is the reason someone buys. Marketing is the reason someone thought to buy in the first place.
• Branding builds loyalty. Marketing generates response.
• Branding creates value. Marketing extracts value.
• Branding is the being. Marketing is the doing.
In essence, marketing is what’s involved in getting your promise or message across to customers while branding is how you keep that promise.