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Marketing is the process of getting people interested in your company’s product or service. This happens through market research, analysis, and understanding your ideal customer’s interests. Marketing pertains to all aspects of a business, including product development, distribution methods, sales, and advertising.
Modern marketing began in the 1950s when people started to use more than just print media to endorse a product. As TV — and soon, the internet — entered households, marketers could conduct entire campaigns across multiple platforms. And as you might expect, over the last 70 years, marketers have become increasingly important to fine-tuning how a business sells a product to consumers to optimize success.
Where your marketing campaigns live depends entirely on where your customers spend their time. It’s up to you to conduct market research that determines which types of marketing — and which mix of tools within each type — is best for building your brand.
Inspired by an Excedrin product campaign that took place online, the very idea of having a presence on the internet for business reasons is a type of marketing in and of itself.
Abbreviated "SEO," this is the process of optimizing content on a website so that it appears in search engine results.
Blogs are no longer exclusive to the individual writer. Brands now publish blogs to write about their industry and nurture the interest of potential customers who browse the internet for information.
Businesses can use Facebook, Instagram, Twitter, LinkedIn, and similar social networks to create impressions on their audience over time.
As newspapers and magazines get better at understanding who subscribes to their print material, businesses continue to sponsor articles, photography, and similar content in the publications their customers are reading.
This type of marketing is a bit different than SEO, which is described above. Businesses can now pay a search engine to place links on pages of its index that get high exposure to their audience.
A product is defined as a bundle of attributes (features, functions, benefits, and uses) capable of exchange or use; usually a mix of tangible and intangible forms.
Thus a product may be an idea, a physical entity (a good), or a service, or any combination of the three. It exists for the purpose of exchange in the satisfaction of individual and organizational objectives.
While the term “products and services” is occasionally used, product is a term that encompasses both goods and services.
Price is the formal ratio that indicates the quantity of money, goods, or services needed to acquire a given quantity of goods or services.
It is the amount a customer must pay to acquire a product.
Distribution refers to the act of marketing and carrying products to consumers. It is also used to describe the extent of market coverage for a given product.
In the 4Ps, distribution is represented by place or placement.
According to the Association of National Advertisers (ANA), promotion marketing includes tactics that encourage short-term purchase, influence trial and quantity of purchase, and are very measurable in volume, share and profit.