What is marketing 101? how it works and how it applies to your business? In this article we are going to be breaking down exactly what marketing is, how it all works and why it’s an important element to business success.
Whether you have a business or not, marketing happens pretty much every day. When you try to convince friends or family to see a certain movie or eat at this restaurant or basically try to convince them to do anything, Marketing is happening. Marketing is important to understand because we’re always being marketed by everyone from everywhere. Its as simple as someone trying to sell you a pair of shoes or something major like buying a house or moving across the country. All of this, requires marketing. Let us first cover what is not marketing, so it will make us clear of what is marketing.
Marketing 101, is it just advertising?
Marketing isn’t advertising but advertising is marketing. There’s also others like: Market research, social media, content marketing, search engine marketing or Search Engine Optimization (SEO), pricing, pricing psychology, copy-writing and direct response marketing. When you say marketing is just advertising its like saying finance is taxes or HR is hiring people. These are all important but they are one piece of the entire puzzle. This is why marketing can seem overwhelming which is why you need to find an area that you find interesting, like social media or content marketing.
What exactly is marketing 101?
Marketing is made up of different segments like content marketing, email marketing and social media.
What exactly is the nature of marketing?
One of the first things you learn in any marketing course is the four P´s of marketing: product, price, place and promotion.
Product is whatever product or service is being sold. Price being the selling price which is obvious. Place is the location at which the products are being sold. Promotion is when you sell a product with some sort of incentive to the client. This is how you sell more of the product and what you do to get the word out about the service.
Marketing 101 is communicating value to your customers. It’s answering the question of your customers, like why choose your product. Marketing helps people solve their problems by clearly defining and delivering solutions. Its explaining the benefits of the solution so they can get better results. Marketing is about connecting with people, understanding their pains, problems and frustrations. Making them feel understood so that you can position your business as the solution to their problems making them feel better.
Marketing is powerful
It’s not always the best product or service that wins, rather it’s the product or service with the best marketing. Having good marketing is important. Marketing 101 is communicating value to your customers. Marketing is also creating value for your customers.
We assume that buying decisions are made rationally, logically and with perfect information but this is mostly never the case. Humans are emotional, often illogical and rarely have the full set of facts when making any decision. This explains why marketing is important and powerful. If we made purchasing decisions based on logic and the value we get from these products. Luxury goods market wouldn’t exist Not all marketing is created equal.
There’s good marketing and there’s bad marketing.
Bad marketing is the reason marketing gets a bad reputation. It’s the stuff that looks cheap, makes people feel weird, even looking at it. Promoting bad products or services helps nobody. The fake countdown timers you see on websites and out of business sales that never end. This is the definition of bad marketing.
Good marketing helps customers achieve goals. It makes them feel better about themselves and has the power to truly change the world. The ultimate question is what kind of marketing do you want for your business? Whether it’s the good kind or the bad kind, it will have an effect on your sales as well as your business personality. Its always better to take the correct method than a short cut for quick sales, then repair the reputation it comes with.
We have made a free step by step marketing guide for you to follow whether you’re an expert or someone looking for a little guidance to start.