What is the importance of marketing
Marketing is one thing above all else: diverse. This not only applies to the numerous forms in which marketing can be carried out - you will also get a wide variety of answers to the question “What is marketing?”: From listing specific measures to the unhelpful explanation that marketing is “general Mindset ". But don't panic: Marketing is actually not that difficult to understand. We'll help you on the jumps!
In theory there are different definitions for marketing. For example, the American Marketing Association tries this:
Marketing is therefore about creating valuable offers. Aha. This is not really illuminating for laypeople. So let's try it a little more practical: Marketing, to put it simply, is all about them Needs of (potential) customers. The aim is to include their wishes and expectations in all corporate decisions and thus to achieve certain corporate goals. First and foremost, of course, the paragraph be increased: that is, more of a product or service is sold. Accordingly, marketing in a company is always related to the Analysis, planning, implementation and control of company activities connected. Marketing is therefore a central function of corporate management and therefore an important part of business administration.
So if you think that marketing is always the same as advertising, you are wrong, because advertising is only a small part of it.
This is how marketing works
Marketing explained simply
An example: A company wants to bring a new yogurt onto the market. In a world without marketing, the yoghurt developers would go straight to work and develop happily. This would result in some new flavor, which - in any packaging - would land indiscriminately on supermarket shelves at any price, in order to be bought by someone purely by chance. Or maybe not.
Nobody would know whether the potential customers would like yoghurt, whether they are in the mood for yoghurt at all, and if so, what price they are willing to pay for it. In return, the customers would know nothing about the new product. Not really optimal.
Sounds exciting? There are many interesting courses of study around marketing!
Worry in our real world Marketing departments and agencies ensuring that things go better: with the clever combination of various marketing instruments that work together to Marketing mix surrender. The four main instruments are called the four ps designated:
1. Product (= product policy)
The product (or service) and related product policy are the real factor of the company's success. The better the product, the easier it is to achieve success through targeted marketing tools. The product policy includes the Assortment planning, Product quality, the Customer service as well as the Design of the product. In our example, for example, the quality of the yoghurt, the flavor or the packaging.
2. Place (= distribution policy)
The main consideration of the distribution policy is how the product should get to the customer. Should the route go through a sales agent (for example a supermarket) or should it be delivered directly to the end consumer, such as at a mail order company or online shop? Also one Combination of distribution channels is possible: An iPhone can be obtained from a sales agent (electronics store) as well as directly from Apple. The distribution policy also includes determining how the goods are to be distributed ex works. For our yoghurt, the decision would probably be made in the supermarket - but then it would still have to be decided whether, for example, it is available in all markets, only regionally, in delicatessen or organic shops and so on.
3. Price (= contracting policy)
The contracting policy, or else Pricing policy called, means all contractual and financial conditions that arise when purchasing a product. Among other things, the pricing policy defines discounts and bonuses as well as delivery and payment conditions. But the most important function is Setting the price for a product. Attention must be paid to the competition and the company's goals. Should our yoghurt be offered cheaply and instead in lower quality or rather high-priced with particularly good quality? And how much is the customer even willing to pay for what quality?
4. Doctorate (= communication policy)
The doctorate is what is mostly meant when from Marketing or advertising the speech is. This includes all of the company's communicative measures that are used to advertise and sell a product. The most widely used means of communication policy are Advertising, personal sales, sponsorship, trade shows, events and public relations.
New trends and changes
In the course of time, some additional elements were added to these four original Ps. Marketing is a special one fast-moving field and subject to constant changes and trends. Terms such as big data, multi-channel or cross-media marketing, content marketing or customer relationship management (CRM) are becoming increasingly important. Nevertheless, the four Ps are still the basis of any successful marketing campaign.
Different forms of marketing
In the meantime, marketing is getting bigger and bigger - because advancing digitalization means there are more and more marketing opportunities. Below we have listed a few examples of the different types of marketing.
Classic marketing was the most common form of advertising before the internet and digital possibilities: this includes Flyers and posters, but also television and radio advertising. This form of advertising was completely different. B. Measure with poster advertising, but in contrast to online marketing, it is difficult to understand which poster was seen particularly often or whether one of the posters particularly stimulated sales. And once a flyer has been printed, it can no longer be easily changed and adapted.
Another classic form of marketing that existed before digitization. At that time it was on Mail, phone calls or faxes set, nowadays are Emails or personalized advertisements the means to an end on the Internet. Because the goal of direct marketing is to address the customer directly and thus retain them. The sale of a product is secondary, it is more about customer loyalty.
Online marketing (or digital media marketing) has meanwhile become a major part of advertising - but the possibilities are also diverse! If Emails, banners, social media, affiliate marketing, augmented reality or influencer marketing - the possibilities are very diverse. And the mechanization of everyday life is constantly adding new possibilities. Therefore, with the online marketing course, there are now also courses that specialize in this area.
In the meantime, the right events also belong to many advertising campaigns: Whether Press conference, sporting event or the launch of a new cosmetics or clothing line, which is celebrated with a special event to which stars, starlets and influencers are invited. Event marketing is becoming more and more important in times of social media - the bigger and more unusual the event, the better for the reach and reputation of the company or brand. Accordingly, there are also special degree programs for event marketing. You can find out more about this in our article on Event marketing studies.
Cross-media marketing (multichannel marketing)
Cross-media marketing has also become much larger due to digitization, as the Internet has opened up new paths - and the advancing technology will certainly add more. But even before digitization, this form of marketing was known as multichannel marketing. No matter what the name is, it's all about his Put your advertising message on different channels that can be both online and offline, and to connect them together.
Since the emergence and constant further development of online marketing, other forms of marketing have emerged in connection with this, for example performance marketing. In contrast to print campaigns, the success or failure of online campaigns can be measured much better. And that's exactly what performance marketing is for. Ongoing online marketing measures are checked for clicks, traffic or conversions, for example, by means of performance marketing - depending on the goal of the campaign - and can be adapted if necessary and better geared to the respective target group. Possible channels that can be tracked through performance marketing are email marketing, affiliate programs or search engine advertising.
Content marketing is a marketing measure aimed primarily at the target group should provide relevant and valuable information and not just contain promotional information. But entertaining content can also be used in content marketing. Classic examples of content marketing are blog posts, white papers, e-books, tutorials, but also games or infographics. This content is used, for example, in newsletters, social media management or PR texts. While the advertising content takes a back seat in content marketing, the aim of the measures is of course to encourage (new) customers to act as profitably as possible (e.g. clicks or conversions).
Neuromarketing is an exciting but also controversial field. Because with neuromarketing, the customer does not even notice that his purchasing behavior may be influenced. The field is still relatively new, so there is still a lot of experimentation in this area. Examples of neuromarketing: The arrangement of goods in a supermarket, background music in a department store or even fragrances that are consciously used when shopping and thus put people in the right mood.
Guerrilla marketing is also a relatively new type of marketing. There are above all Unusual and funny advertising campaigns meant, which are about the surprise effect for the customer goes. As a rule, only a small budget is used for this, but ideally the effect is even greater.
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