What Is Marketing? [The Only Guide You'll Ever Need Again]

"Marketing" seems to be on everyone's lips these days, but the not so great truth is that not a lot of people know what is marketing. Is it just digital marketing? Just content? Maybe just those LinkedIn posts so many CEOs make in B2B? Is it ads? Is it more?

If you've been wondering about what marketing really is, we have the answers you need. Keep reading and find out more.

What is the purpose of marketing?

The purpose of marketing is to connect businesses with their target audiences and foster relationships that lead to mutual satisfaction and value. It involves understanding customer needs and delivering solutions that are beneficial to both the company and the consumer.

Marketing is essential for communicating the benefits of products and services, ensuring customer engagement, and driving business growth.

To understand the purpose of marketing, however, you might have to look at what marketing is not as well. Specifically, marketing is not:

• Merely advertising or promoting a product
• A one-time activity or event
• Focused solely on making sales
• Limited to business-to-consumer transactions
• The sole responsibility of a single department within a company

The benefits of investing in marketing

Everyone says you should "market your product", but the truth is that not that many people talk about the actual advantages of investing in this.

That doesn't mean there aren't any. On the contrary, marketing can help with a lot of business areas, such as:

Audience building & engagement

Investing in marketing helps businesses engage with their audience effectively. When you create targeted campaigns and strategic communication, your company can reach the right people with the right message, fostering a loyal customer base.

This has an impact not only on your direct bottom line (i.e., short and medium-term revenue), but also on your overall reputation, brand recognition and customer lifetime value.

Competitive edge

In today's fast-paced world, businesses have to fight for attention from potential customers. Marketing can help you stand out from the crowd by showcasing what sets your products or services apart from competitors. By highlighting your unique selling points and communicating them effectively, you can gain a competitive edge in the market.

Internal education

Marketing also serves as a tool for internal education, helping employees understand the company's products, values, and market strategies. This education enhances their ability to communicate the brand message consistently. Whether in Customer Care or Sales, marketing provides the necessary background knowledge to represent the company accurately and effectively.

External education

External education through marketing aims to inform potential customers about product benefits and uses. Educating the audience builds trust and credibility, which are crucial for long-term relationships.

Some of the most widespread forms of educational marketing include content marketing (written and video), social media, and email -- but essentially, every form of marketing can incorporate an educational component.

Branding

Marketing is vital for building and maintaining a strong brand identity. It ensures that the company's values and image are consistently presented across all platforms and interactions, setting it apart from competitors.

Branding is what keeps your business "alive" in your customers' minds, making them choose you over other options. Effective branding creates a sense of connection and trust with consumers, leading to long-term relationships.

Business growth

Ultimately, marketing contributes to business growth by driving sales and increasing market share. Through effective marketing strategies, companies can expand their reach, acquire new customers, and achieve a competitive advantage.

Keep in mind, though: no form of marketing can ever guarantee immediate business growth. However, a well-thought-out and executed marketing plan can undoubtedly have a significant impact on companies' success.

The history of marketing

The origins of marketing can be traced back to ancient times, notably around 1500 BCE in Mesopotamia, where producers began to stamp their goods to indicate quality and origin, effectively creating the world's first logos.

Fast forward to 1450 CE, the invention of the printing press by Johannes Gutenberg revolutionized the spread of advertising. This technology enabled the mass production of printed materials, such as brochures and posters, thus laying the groundwork for modern marketing techniques.

By the 19th century, the landscape of marketing evolved with the rise of printed mass media advertising, notably highlighted by Émile de Girardin's introduction of paid advertising in newspapers in 1836. This advancement marked a significant shift toward reaching broader audiences through various forms of media.

The period from the 1920s to the 1940s, known as the Sales Era, saw a strong focus on aggressive sales tactics. During this time, companies extensively used radio and print ads to drive sales volumes, emphasizing promotions often at the expense of customer experience, as seen in Procter & Gamble's influential radio campaigns during the Great Depression.

The late 20th century ushered in a digital revolution, transforming marketing yet again. Beginning with email marketing initiatives in the late 1970s and expanding into social media and e-commerce by the 1990s, this digital transformation allowed businesses to fundamentally change how they engaged with consumers. This new era of marketing enables highly targeted strategies and real-time interactions, reshaping the industry's interaction with clientele.

Types of marketing

Not all marketing is created alike. In terms of approach and channels, there are two main types of marketing, each split into sub-categories: traditional marketing and digital marketing. Although they both follow the same basic rules, the channel specifics make them substantially different.

Traditional marketing

Traditional marketing is the oldest form, encompassing offline marketing initiatives such as print ads, television commercials, billboards, and direct mail. These channels are often more expensive than digital options, but they can reach larger audiences and are still great for targeting local markets.can be split in a few different channels:

Outdoor

Outdoor marketing involves advertising in public spaces such as billboards, transit ads, and posters, reaching a wide and diverse audience.

Print

Print marketing includes advertising through newspapers, magazines, and brochures, offering tangible materials that people can keep and refer back to.

Direct

Direct marketing focuses on targeted communication through mailers, catalogs, and personalized messages, facilitating direct engagement with potential customers.

Electronic

Electronic marketing through radio and television offers broad exposure and the ability to convey audio-visual messages to a large audience.

Event

Event marketing leverages live experiences to engage potential customers and partners, creating memorable brand interactions.

Digital marketing

Digital marketing can, too, be split into different categories:

SEM (search engine marketing)

SEM involves using search engines to promote a business through paid advertisements and organic content, increasing visibility and directing traffic to websites. Keep in mind that in most acceptions of the term, SEM refers to both SEO (search engine optimization -- the efforts by which you organically push your content up in search results on Google, Bing, etc.) and paid ads (such as Google Ads, in which you pay Google to show your ad before a user searches for something).

Email marketing

Email marketing is a direct and cost-effective way to communicate with customers, offering personalized content and promoting products or services.

It is worth noting that, sometimes, email marketing "lives" at the confluence between traditional and digital marketing: newsletters, for example, are often designed to look like newspapers or magazines.

Social media marketing

Social media marketing utilizes platforms like Facebook, Instagram, and Twitter to connect with audiences, build brand loyalty, and drive engagement through interactive content.

Affiliate marketing

Affiliate marketing involves partnerships where affiliates promote a business's products or services and earn a commission for each sale. These affiliate partnerships can be made between businesses or individual content creators.

Content marketing

Content marketing involves creating and sharing valuable and relevant content to attract, engage, and retain a target audience. This type of marketing is often seen as more subtle and less promotional than traditional advertising methods.

Marketing vs. advertising

Marketing and advertising are sometimes used interchangeably, but that is not necessarily correct. Generally, marketing encompasses a broader scope that includes research, strategy, branding, and communication, whereas advertising is a component of marketing focused on promoting products or services through paid media. In other words, if marketing is a tree, advertising is a branch, or just part of that tree.

Marketing vs. brand strategy

Similarly, marketing and branding are sometimes used interchangeably too -- and it not always correct.

The main distinction is that marketing deals with the tactical application of campaigns and interactions with customers, while brand strategy is a long-term plan for developing a successful brand identity and positioning in the market.

Marketing vs. market research

Marketing is all about using strategies to connect with audiences, while market research focuses on collecting data about consumer preferences and trends to guide those marketing choices.

The 4 Ps of marketing

To get a better understanding of what marketing is, isn't, and how to run it properly, think of the 4 Ps (a series of questions you can ask yourself when creating a marketing plan):

Product

Define what your product or service is and what makes it unique. This element refers to the goods or services offered to meet consumer needs and desires. Some of the questions to ask yourself here include:

• What problem does the product or service solve for the customer?
• What features and benefits does it have that set it apart from competitors?
• Who is the target audience for the product or service?
• Are there any additional services or warranties offered with the product?

Price

Establish a competitive pricing strategy that maintains profitability while reflecting the perceived value of your product and influencing purchasing decisions. Some of the main questions to ask here include:

• What is the price sensitivity of the target market, and how will pricing affect their purchasing decisions?
• How does the pricing compare with competitors, and is it positioned as a premium or budget option, according to your target market?
• What pricing models or strategies will be used, such as discounts, bundling, or subscription pricing?
• Are there factors like production costs, distribution, and perceived value that justify the pricing strategy?

Place

Determine where your product or service will be available for purchase, whether online, in physical stores, or both, ensuring accessibility and convenience for consumers. Some of the main questions to ask here include:

• What distribution channels will be used to ensure the product reaches the target audience efficiently?
• How will the location affect customer engagement and sales potential?
• Are there any strategic partnerships or distribution agreements that can help you better reach your target market?
• What is the sales process, and how does it integrate with customer experience across different platforms or locations?

Promotion

Most times, this is the only thing people think of when they think of a "marketing" plan: how to promote your product to engage potential customers. As mentioned before, this includes using various channels and strategies to create brand awareness and drive sales, whether through traditional methods like print ads or modern digital marketing techniques. Here are some questions to ask when you think of how you will promote your product:

• What advertising channels will be most effective in reaching your target audience?
• How will you leverage social media to enhance brand awareness and customer engagement?
• What content marketing strategies will be implemented to provide value and attract customers?
• Are there opportunities for public relations activities or partnerships that can boost promotion efforts and help you reach your target market?

So...what is marketing?

Seth Godin would say "This is marketing", because every aspect of a business and its operations can contribute to successful marketing. Marketing is not just about selling products or services; it's about understanding your target market, creating valuable connections, and building a strong brand that resonates with your target audience.

It's equal parts research, data analysis, and storytelling: a blend of art and science that drives customer engagement and business success. No matter what types of marketing your business engages with, your marketing mix will always be consisted of an ongoing process that requires constant adaptation to changing consumer needs and preferences, making it both challenging and exciting for businesses of all sizes.

So next time someone asks you "What is marketing?", remember: it's so much more than just advertising or social media posts – it's a holistic approach to building relationships with customers and driving growth for your brand.