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Apr 3 2009

What Is Marketing?


Many people think of marketing as advertising. This is a huge mistake and not understanding the fundamentals of marketing and its components can lead to a tremendous waste of time, effort and resources (ie. Money).

Let’s start with the components, the “Four P’s of Marketing”

1.Price

  • Price impacts revenue, Price*Quantity
  • Price Level impacts demand, Higher prices=Lower demand, Relative prices with competitors effects demand.

2. Product

  • Physical features of the product, specifications, and the intangible aspects of the service (warranty)
  • Things you do to make the product more attractive to buy (ie. packaging)
  • Value: What is the ratio of benefit to cost for the consumer?
  • Differentiation: Are the things that make your product unique real or psychological?

3. Place

  • Where will you sell the product?
  • Where are the customers and how do you reach them?
  • Channels of Distribution: All the middle-men used to deliver your product.

4. Promotion

  • Delivering your message to consumers.
  • What most people think of as “Marketing”
  • 3 purposes: Inform, Persuade, Remind
  • Identify target audience
  • Determine communication objective
  • Design message
  • Select communication channel
  • Manage implementation
  • Mass Selling, Advertising: which you pay for and Publicity: which is free
  • Sales Promotion: In store effoerts to get the customer to try the product (ie. contests, coupons, free samples…etc)
  • Personal Selling: Direct contact with a potential customer.

Once again I leave this as sort of a “Bare-Bones” post becuase I want you to think about this stuff and how it all works together. If there are any areas you would like me to describe in detail, let me know and I will post a follow-up on this subject.

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51 Comments on this post

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  1. fitness lady said:

    I know I should start with Mom and Pop shops, Website and Facebook, but what else can I do to set me apart from everyone else? I know I can do something else but the idea just is not getting through!!

    January 30th, 2010 at 6:44 am
  2. romantic gifts said:

    Marketing is the art and science of meeting a consumer’s want, need or desire at the right time and place by offering a desirable good/service in exchange for compensation.

    January 30th, 2010 at 6:47 am
  3. romantic gifts said:

    If your product requires a more targeted approach, it’s best to know what kind of businesses surround the particular kiosk your ads will show in. You will want to try and come as close to your niche as possible.

    February 1st, 2010 at 4:31 am
  4. promotional merchandise said:

    You can do a job search on the web Singapore Jobs Online, Naukri.com, MonsterIndia.com, JobsDB where you can find huge knowledge about Singapore job market.

    February 1st, 2010 at 4:33 am
  5. Teeth Whitener said:

    I am most proud of my record for helping average people - people who have never reached any level of serious success in the business - to finally reach that success.

    February 3rd, 2010 at 12:28 am
  6. fitness lady said:

    I wanted to know, How can I promote Products and services.So that I can present my Services to the big User group of FaceBook. If anybody have any idea, please help me with your valuable suggestion.Thanks

    February 3rd, 2010 at 5:03 am
  7. Teeth Whitener said:

    Thank you for this useful information. I just started my blog a week ago and I have very few visitors. Thank you for your post, now I know what to do to gain traffic.

    March 1st, 2010 at 10:15 pm
  8. romantic gifts said:

    I think I would need a good definition of “awesome”. I think it’s a good idea to decide whether you’re leaving the comment as an official representative of your company or as yourself. Dropping a business card at the end can often seem, for lack of a better word, icky.

    March 2nd, 2010 at 3:02 am
  9. fitness lady said:

    Affiliate marketing is a program which you sell other people product for commission. This program is very common in internet marketing business…

    March 4th, 2010 at 2:43 am
  10. tooth whitening said:

    Great point! It’s one thing to state your name/title/contact info as a matter of disclosure in representation of your company and quite another as a means of drumming up business. Most bloggers and blog readers are smart enough to know the difference.

    March 11th, 2010 at 2:15 am
  11. deepak said:

    marketing is trick by that marketer market his business.
    Roof tile coating

    March 16th, 2010 at 9:50 am
  12. Roof tile coating said:

    I agree with the post marketing depends on product quality, cost effectiveness, place and transportation.

    March 16th, 2010 at 10:03 am
  13. Luxury Gifts said:

    Good thing I saw this post. I have confirmed that what I’ve been doing all along is right and I’m not appearing to be a spam bot even if I market my own sites. Thanks for this post.

    March 29th, 2010 at 5:29 am
  14. Luxury Gifts said:

    I think it’s okay to reach out via email etiquette-wise, and to fulfill any due-diligence on your company’s behalf, but I would be surprised to hear anything back. Maybe I’m being cynical though. ;-)

    April 1st, 2010 at 4:11 am
  15. promotional merchandise said:

    I am learning more and more about this fascinating genre “blogging”. Just a year ago, I didn’t even know why one would “waste” time with it. What for? Just like Twitter and micro blogging. But many tweets and posts later, I learned my lesson. It’s awesome how many new people you can reach in this world with these free tools.

    April 1st, 2010 at 11:42 pm
  16. fitness lady said:

    What exactly is marketing and how do you do it? If you have your own business, no doubt you have heard countless strategies on how you “HAVE” to market or you will fail. Is this true?

    April 2nd, 2010 at 12:01 am
  17. tooth whitening said:

    It is effective in getting visitors to your blog. If your blog is interesting enough these visitors will become subscribers or regular readers. What they don‘t do is buy anything through your blog because they’re already advertising the same offers as you or simply don‘t click offers on other, competing, blogs. In the end, it’s a social exercise, not a moneymaking exercise.

    April 2nd, 2010 at 1:22 am
  18. tooth whitening said:

    Yes yes and more yes. Very definitely start and then do not stop — and very definitely weigh quality over quantity - this can’t be stressed enough. Think about the comments section as an extension of the blog posting or article - what can you offer?

    April 23rd, 2010 at 5:55 am
  19. Pre-pregnancy Care said:

    In the first section of our highly detailed Principles of Marketing Tutorials we lay the groundwork for our study of the field of marketing with a close look at marketing’s key concepts and the important tasks marketers perform.

    April 24th, 2010 at 6:18 am
  20. Pre-pregnancy Care said:

    Hi all is my friend and all is my neighbor i know all my total friends all is very best fore me.

    April 24th, 2010 at 6:21 am
  21. tooth whitening said:

    I have written often about how our blogs are not just about ourselves, but about the audience. Comments are the same. It’s not just our need to say something that’s important. It’s about the need to contribute and continue with the conversation and being a part of something special.

    May 2nd, 2010 at 10:09 pm
  22. Luxury Gifts said:

    While blogging in Blogger, I’ve found a way to thank the person for joining the convo and to keep it relevant within the pop text box. However, I couldn’t design a savvy solution for the person to write to me (aside from the textimage.gif in the nav bar).

    May 5th, 2010 at 1:10 am
  23. promotional merchandise said:

    Anything that works contrary to what an average user might expect is broken and either needs to work a different way, or to have the functionality limitations explained clearly in the interface.

    May 6th, 2010 at 4:27 am
  24. fitness lady said:

    Hi marketing is a process or path to starting or earn the many all is very lovely thanks fore great sharing.

    May 8th, 2010 at 4:31 am
  25. flowbee said:

    Hi if any person want to learn about what is marketing that is very great network of networks ha ha ha.

    May 25th, 2010 at 9:18 am
  26. Jessica Web Design Tips said:

    I need suggestions on Reference material to study and how to use the computer programs to help keep track of the market and my investments….

    May 31st, 2010 at 12:06 am
  27. promotional merchandise said:

    Great Info! In marketing, we should always think out of the box. One of the many ways we can do is to comment from quality bloGreat Info! In marketing, we should always think out of the box. One of the many ways we can do is to comment from quality blogs that are related to your niche.gs that are related to your niche.

    June 2nd, 2010 at 1:36 am
  28. Jessica Web Design Tips said:

    However as such I or you cannot create money to pay for someone’s service/product. How is money created by government released in market, on what basis government releases money??

    June 2nd, 2010 at 2:14 am
  29. flowbee said:

    Hi What Is Marketing that is looking very easy word but work is very difficulty ha ha ha.

    June 2nd, 2010 at 9:09 am
  30. tooth whitening said:

    Marketing communications serves the goals and objectives of
    management. It requires a strong team effort between client and
    agency. This mutual commitment by both partners sustains a
    continuity and consistency in corporate identity.

    June 3rd, 2010 at 4:42 am
  31. Romantic Personalized Gifts said:

    I can say due to the economic crises in the world and middle east there is a big problem has greated and called a crises of confidence and the market index is still in red color anywhere.

    June 10th, 2010 at 5:56 am
  32. fitness lady said:

    Think Ink Marketing provides personalized hand addressed mail solutions that are guaranteed to get your mail opened and read.

    June 17th, 2010 at 11:00 pm
  33. tooth whitening said:

    I think its a bad habit for alot of us that have a little bit of skill in every area, so therefore we try to do everything ourselves, eating up our time in the process. But outsourcing can create alot of headaches too!

    June 25th, 2010 at 10:47 pm
  34. Jessica Web Design Tips said:

    Make sure you do a little cost benefit analysis to make sure the expense gets covered, but you shouldn’t have too much of a problem if you’re selling stuff people want..

    July 1st, 2010 at 5:53 am
  35. tooth whitening said:

    Hello sir, that’s exactly what I needed. It helps learning how to market on social networking sites. Thank you! If you don’t mind I would like to add it to my website.

    July 2nd, 2010 at 1:21 am
  36. flowbee said:

    Substantial travel may be required in order to meet with customers and consult with others in the industry. Sales managers travel to national, regional, and local offices and to the offices of various dealers and distributors.

    July 2nd, 2010 at 3:31 am
  37. promotional merchandise said:

    Great Info! In marketing, we should always think out of the box. One of the many ways we can do is to comment from quality blogs that are related to your niche.

    July 2nd, 2010 at 4:02 am
  38. fitness lady said:

    It easily makes people buy only from you. It attracts customers and floods them in. It retains them. Marketing causes people to want, need and demand what you sell before they even try it.

    July 5th, 2010 at 8:14 am
  39. Romantic Personalized Gifts said:

    You will likely need a copyright assignment or work for hire agreement with the artist so that you own the copyrights to the work. I suggest hiring an attorney to prepare such documentation to avoid legal hassles later..

    July 12th, 2010 at 10:51 pm
  40. magazines said:

    I’ve noticed that those sites that list the people that comment the most have generated more traffic for me. You can quickly dominate that list by just being consistent with your post schedule.

    July 13th, 2010 at 4:59 am
  41. fitness lady said:

    Great Info! In marketing, we should always think out of the box. One of the many ways we can do is to comment from quality bloGreat Info! In marketing, we should always think out of the box. One of the many ways we can do is to comment from quality blogs that are related to your niche.gs that are related to your niche.

    July 14th, 2010 at 6:04 am
  42. magazines said:

    I am learning more and more about this fascinating genre “blogging”. Just a year ago, I didn’t even know why one would “waste” time with it. What for? Just like Twitter and micro blogging.

    July 28th, 2010 at 10:44 pm
  43. tooth whitening said:

    I am planning to start a startup with one of my friend but our product is not ready yet. I want to know what can a marketing guy do in that case?

    August 1st, 2010 at 11:00 pm
  44. magazines said:

    Thanks for this information. I am not new to the blogging world, but I definitely need more traffic to my blog.

    August 1st, 2010 at 11:07 pm
  45. Jessica Web Design Tips said:

    Javelin Marketing started its business in 2006 and by purchasing the intellectual property, marketing systems and lead generation operations of a company that had ceased operations. There were four original founders and shareholders…

    August 2nd, 2010 at 6:29 am
  46. corporate gifts said:

    I think it’s a good idea to decide whether you’re leaving the comment as an official representative of your company or as yourself. Dropping

    August 3rd, 2010 at 12:14 am
  47. flowbee said:

    Hi if any business is finding growth in investment and recover money that is called marketing all is very important today…

    August 3rd, 2010 at 5:20 am
  48. corporate gifts said:

    I would think that list posts fall into the same category as comparative posts. If a blogger provides a laundry list of links related to a certain topic or product, yet fails to mention your company’s doodad, reach out via email unless they specifically state they are looking for additional examples/links in the comments.

    August 4th, 2010 at 3:59 am
  49. Christmas Dresses said:

    However, I couldn’t design a savvy solution for the person to write to me (aside from the textimage.gif in the nav bar).thanks for searing..

    August 25th, 2010 at 11:23 pm
  50. Jessica Web Design Tips said:

    Javelin Marketing started its business in 2006 and by purchasing the intellectual property, marketing systems and lead generation operations of a company that had ceased operations. There were four original founders and shareholders…

    September 2nd, 2010 at 12:41 am
  51. magazines said:

    I think it’s a good idea to decide whether you’re leaving the comment as an official representative of your company or as yourself.thanks..

    September 3rd, 2010 at 5:53 am

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