I used to think marketing was just
another word for advertising, however, through my studies and work experience,
I’ve learned that it is far more than advertising. Marketing is creative,
innovative, and a blend of science and research but more simply put, the text defines
marketing by saying, “it is about identifying and meeting human and social
needs.” (Kolter 2). Someone has to use marketing to create a customer base and
then maintain the loyal consumers and that person’s job is called marketing
management.
There
are ten main types of things that are marketed: goods, services, events,
experiences, persons, places, properties, organizations, and information. A
market isn’t a traditional brick and mortar store but it’s a group of buyers
with interest in the same product, service, etc. A market is similar to a club
in that everyone in the group has a common thread, in this case it could be a
voter demographic or a collection of people that think Crest toothpaste is the
best. The goal in marketing is to establish a “club,” maintain and add members,
and create loyalty to the “club.” A marketplace is a traditional brick and
mortar store and the marketspace is a digital store.
There
are five main types of concepts when it comes to marketing philosophies: the
production concept, product concept, selling concept, marketing concept, and
the holistic marketing concept. I found the marketing concept to be the most
interesting because it is a customer-centered approach that focuses more on
creating and developing products to meet customers needs versus trying to find
consumers that want your product. A good example of this would be
Craigslist.com. This website was created because the use of classifieds ads are
declining but people still need a way to buy and sell used items, thus
Craigslist was started.
Source: Kotler, Philip, and Kevin Lane Keller. A Framework for Marketing Management.
5th ed. Boston: Prentice Hall, 2012.
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