
Marketing is not as complicated as it has been taught. In fact, I believe that marketing is a combination of a few key elements. If you understand these elements, you will have a solid grasp of how marketing works.
The lines between marketing and sales or marketing and branding are often blurred, leading to confusion. However, if you're a marketing enthusiast like me, you'll understand that no definition can fully capture the essence of marketing due to its many variables.
Let's break down some common misconceptions
Is Marketing a Common Sense?
1. Sales Vs Marketing
According to formal definitions, sales and marketing differ in their approach and objectives. Sales take an individualistic, customer-centric, one-to-one approach, while marketing is media-driven and targets entire segments. Sales fulfill demand, while marketing creates new demand or fits a product into existing demand. Marketing moves the product from the company to the market, while sales move the product from the market to the customer.
However, these points describe symptoms of successful marketing or the methods used in marketing. In my view, marketing is simply common sense that helps companies, brands, or individuals understand what consumers, customers, or audiences want, need, or desire. Once this understanding is achieved, any action taken to make people aware of the product or service is marketing.
For example, if you have Product X and want to sell it to earn money, marketing comes into
play to make people aware of your product. This process involves:
- Market research: Understanding your customers and finding them in the marketplace.
- Effective medium: Choosing the right medium to inform customers about your product or service.
- Understanding touchpoints: Learning which medium is useful for which kind of customer and making necessary adjustments to leverage it.
It's important to note that the results of marketing campaigns can never be accurately estimated due to uncertainties. The success of a marketing campaign can only be determined by analyzing its results and making adjustments based on previous campaigns.
2. Marketing vs. Branding
Branding is not just a logo, tagline, or any other attribute. It's the perception of your product or service that people hold in their minds, and this perception determines whether they choose you or your competitors. Marketing is a tool used to create that perception.
Branding has a long-term impact, while marketing can have both long-term and short-term effects.
3. Marketing vs. Advertising
People often confuse marketing and advertising. Advertising is the promotion of a product or service through paid media, while marketing is a broader concept that involves understanding customer needs, wants, and desires and communicating how a company fulfills them with their product or service.
In conclusion, marketing is a combination of common sense, market research, and effective communication. By understanding your customers and their needs, you can use marketing to create a positive perception of your brand and effectively promote your products or services.
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