What is Marketing, and What's Its Purpose?

Marketing encompasses various actions a company undertakes to attract and engage an audience with its products or services through quality messaging. It aims to provide standalone value to prospects and consumers, with the ultimate goals of demonstrating product value, strengthening brand loyalty, and increasing sales.

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What is Marketing, and What's Its Purpose?

Why is marketing important?

Marketing builds brand loyalty and customer relationships Marketing guides smart pricing decisions Marketing builds brand recognition Marketing helps you understand customer behavior Marketing sells the experience and JTBDs (definition: jobs to be done) Marketing gives a competitive edge

What is the purpose of marketing?

Marketing is the process of getting people interested in your company's product or service It 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

3 Pillar Types of Marketing

Two main categories of marketing: digital and traditional Neuromarketing - effective but not as popular

Examples of traditional marketing Focuses on offline connections with people Print marketing - newspaper and magazines Broadcast marketing - TV ads Telemarketing - phone calls to reach potential or existing customers directly (Outbound: Businesses initiate cold calls to promote products, services, or gather feedback from customers. Inbound: Customers call businesses in response to ads or promotions for inquiries, orders, or support.)

Examples of digital marketing *Digital marketing is the use of online channels and platforms *social media, email, and search engines are used to promote and sell products or services *Search Engine Optimization, Blog Marketing, and Social media marketing/video marketing are also examples

Examples of neuromarketing *Neuromarketing blends neuroscience with digital and traditional marketing to understand how people make choices and react to ads *Brain scans *Electrical brain activity *Body Reactions *Eye tracking *Behaviour tracking *Neuroeconomics

What is marketing?

Any actions a company takes to attract an audience to the it's product or services it is offering through high-quality messaging Aims to deliver standalone value for prospects and consumers through content *The Long-term goal is to demonstrate the product value, to strengthen brand loyalty, and ultimately increase sales

What is Marketing, and What's Its Purpose?