What is marketing?

what is marketing

If I was to pose the question of ‘what is marketing?’ to you, could you tell me? We are exposed to it every single day yet it is hard to give one straightforward answer. Why? Because marketing is one of the most complex professions  to understand. There are a million and one definitions of what marketing is but the two that are most widely accepted are as follows: 

“the management process responsible for identifying, anticipating and satisfying customer requirements profitably” or “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”. 

As someone continuously learning – and practicing – the art of marketing on a daily basis , I feel it is a way of creatively and tactically working with a company to help build a strong brand awareness that allows them to continuously grow. This is often by using different marketing tools, whether that be content creation, advertising, search engine optimisation and the creation of top-level or campaign strategies. That is the beauty of marketing – it’s so expansive.

The process

what is marketing?

A marketing team consists of different people from developers and content creators to project managers and strategists. You could peel marketing back like an onion and the layers would just keep coming because without one,the other simply won’t work. For example, content creation can’t take place if a website has not been established and developed, just as a website can’t be built until the project has been understood and managed. See what I mean? Marketing is an integrated  process; it involves planning, analysis, resource allocation, control and investment in terms of money, skilled people and physical resources. The process as a whole can either go one of two ways, it can either be done efficiently and successfully or poorly and result in failure – there doesn’t tend to be an inbetween. 

Client relationships 

hat is marketing?

Are you good at talking to your customers? Do you take onboard their feedback and adjust your product or service to suit? Many companies think they talk to their customers, but often don’t act on the wealth of data and information at their fingertips. Marketing involves client relationships and good communication skills. Establishing a healthy relationship between you and your client helps you both to gain an understanding of what is required – it is about giving customers what they want, with the input of your expertise of course. As a marketer you have one goal; to deliver growth for your organisation and customer satisfaction. Marketing fails both the customer and your company if ‘customer requirements’ are not satisfactorily fulfilled. In some cases, this will be down to – yes, lack of communication – but also the process failing in some way. 

Marketing has to fulfill a customer’s requirements profitably. You should not get carried away with the altruism of satisfying the customer if you can’t afford to keep your business running as a result. You know the saying, you can’t please everyone – it is important to establish compromises. I suppose this is sometimes the side of marketing we don’t see. On occasion, organisations do have to accept a loss on a particular project in order to achieve wider strategic objectives – as long as the losses are planned, controlled and provide some form of other benefit in the future, then they can be bearable. This process is ultimately achieved by mutual exchange and fulfillment of promises. 

The development of marketing

what is marketing

Marketing is a constantly evolving industry and it has been this way throughout its entire existence – yes, we are talking all the way back to ancient times. In fact, many say that the evolution of marketing is quite a tale. The elements of marketing – especially things like selling and advertising – have been around as long as trade itself. As time has gone on, we have been able to move towards a more comprehensive and integrated field – this has allowed marketing to earn it’s role as a major influence on corporate strategy. It is amazing to think that this profession has gone from being a simple act of letting consumers know about the existence of a certain product, all the way to becoming a complex web of interactions that takes place in person, online, through print, social media or even radio and television. 

Marketing orientation 

Ah yes, marketing orientation, so what is it? This is an approach to business that prioritises identifying the needs and desires of consumers and creating products and services to satisfy them. It can also be known as a customer-centric approach to product design. It has been shown that customer needs are not always price driven and actually, they are looking for what is going to best fit their needs. It means that companies need  to define their customer needs and develop the appropriate offerings – of course this shouldn’t consume your whole plan but it plays a big part in knowing where your audience is. In many cases, companies will create specifically targeted marketing packages that best suit consumer requirements. 

This process is much more than simply matching products and services to customers; an approach must be taken to doing business that naturally places customers and their needs at the heart of the organisation. The philosophy of marketing has continued and will continue to evolve as time goes on meaning organisations are constantly striving to find more effective ways of attracting and retaining customers.

So what is marketing? Above takes a deeper look into what goes into marketing, how it has developed over time and how client relationships are built throughout the marketing process. We will continue to see the marketing industry evolve as new techniques, tools and theories advance in order to keep companies on top. Working with a strong marketing team with a comprehensive strategy is where you will start to see changes in the performance and success of your business. 

Here at Dynamize Marketing, we take pride in being able to offer a range of marketing services. We combine tactics, project management and our creative expertise to take your marketing to the next level. Our expert team is always on hand to offer advice, to see how we can help, contact us today on 01527 549009 or email us at energizeme@dynamize.marketing.