What Is Marketing?

What is Marketing?
The AMA’s definitions of marketing and marketing research are reviewed

and reapproved/modified every three-years by a panel of five scholars
who are active researchers.
Definition of Marketing
Marketing is the activity, set of institutions, and processes for creating,

communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large. (Approved 2017)
Definition of Marketing Research
Marketing research is the function that links the consumer, customer, and
public to the marketer through information–information used to identify and
define marketing opportunities and problems; generate, refine, and
evaluate marketing actions; monitor marketing performance; and improve
understanding of marketing as a process. Marketing research specifies the
information required to address these issues, designs the method for
collecting information, manages and implements the data collection
process, analyzes the results, and communicates the findings and their
implications. (Approved 2017)
Definition of Brand
A brand is a name, term, design, symbol or any other feature that identifies
one seller’s good or service as distinct from those of other sellers.
ISO brand standards add that a brand “is an intangible asset” that is

intended to create “distinctive images and associations in the minds of
stakeholders, thereby generating economic benefit/values.”
Types of Marketing
Influencer Marketing
According to the Association of National Advertisers (ANA), influencer

marketing focuses on leveraging individuals who have influence over
potential buyers and orienting marketing activities around these
individuals to drive a brand message to the larger market.
In influencer marketing, rather than marketing directly to a large group of

consumers, a brand inspires or compensates influencers (which can
include celebrities, content creators, customer advocates, and
employees) to get the word out on their behalf.
Relationship Marketing
According to the Association of National Advertisers (ANA), relationship

marketing refers to strategies and tactics for segmenting consumers to
build loyalty.
Relationship marketing leverages database marketing, behavioral

advertising and analytics to target consumers precisely and create
loyalty programs.
Viral Marketing
Viral marketing is a marketing phenomenon that facilitates and

encourages people to pass along a marketing message.
Nicknamed “viral” because the number of people exposed to a message

mimics the process of passing a virus or disease from one person to
another.[1]
Green Marketing
Green marketing refers to the development

and marketing of products that are presumed to be environmentally safe
(i.e., designed to minimize negative effects on the physical environment
or to improve its quality).
This term may also be used to describe efforts to produce, promote,
package, and reclaim products in a manner that is sensitive or
responsive to ecological concerns.
Keyword Marketing
Keyword marketing involves placing a marketing message in front

of users based on the specific keywords and phrases they are using to
search.[1]
A key advantage of this method is that it gives marketers the ability to

reach the right people with the right message at the right time. For many
marketers, keyword marketing results in the placement of an ad when
certain keywords are entered.
Note that in SEO, this term refers to achieving top placement in the
search results themselves.
Guerilla Marketing
Guerilla marketing describes an unconventional and

creative marketing strategy intended to get maximum results from
minimal resources.
4 P’s of Marketing
Product
A product is defined as a bundle of attributes (features, functions,

benefits, and uses) capable of exchange or use; usually a mix of tangible
and intangible forms.
Thus a product may be an idea, a physical entity (a good), or a service,

or any combination of the three. It exists for the purpose of exchange in
the satisfaction of individual and organizational objectives. [1]
While the term “products and services” is occasionally used, product is a
term that encompasses both goods and services. [2]
Price
Price is the formal ratio that indicates the quantity of money, goods,

or services needed to acquire a given quantity of goods or services. [1]
It is the amount a customer must pay to acquire a product. [1]

Place (Or Distribution)
Distribution refers to the act of marketing and

carrying products to consumers. It is also used to describe the extent of
market coverage for a given product.[1]
In the 4Ps, distribution is represented by place or placement.

Promotion
According to the Association of National Advertisers (ANA), promotion

marketing includes tactics that encourage short-term purchase, influence
trial and quantity of purchase, and are very measurable in volume, share
and profit.
Examples include coupons, sweepstakes, rebates, premiums, special

packaging, cause-related marketing and licensing. [1]
Marketing activities continue to evolve from traditional strategies to nontraditional methods

that involve the Internet. Both traditional and nontraditional marketing have advantages and
disadvantages. A small business can benefit from integrating both approaches to market its
products. Traditional marketing activities typically involve advertising, publicity, sales,
merchandising and distribution.
Traditional marketing
The 2012 Super Bowl broke viewing records with an average of 111.3 million viewers—the largest audience in
United States television history. But that's not the only surprising statistic about the biggest football game ever
played.
According to a recent Nielsen survey, more people watch the Super Bowl for the advertising than for the game
itself. Only 49 percent of viewers are primarily interested in the sports action, while 51 percent say they enjoy
the commercials more.
TV spots are just one example of traditional marketing, a category that includes several time-tested marketing
techniques. Some traditional marketing strategies are nearly as old as civilization itself—and they're still
effective today.
What is traditional marketing?

Traditional marketing is a rather broad category that incorporates many forms of advertising and marketing. It's
the most recognizable types of marketing, encompassing the advertisements that we see and hear every day.
Most traditional marketing strategies fall under one of four categories: print, broadcast, direct mail, and
telephone. (See also Cross-Media Marketing
Print marketing is the oldest form of traditional marketing. Loosely defined as advertising in paper form, this
strategy has been in use since ancient times, when Egyptians created sales messages and wall posters on
papyrus. Today, print marketing usually refers to advertising space in newspapers, magazines, newsletters,
and other printed materials intended for distribution.
 Print: Includes advertisements in newspapers, newsletters, magazines, brochures, and other printed
material for distribution
 Broadcast: Includes radio and television commercials, as well as specialized forms like on-screen
movie theater advertising
 Direct mail: Includes fliers, postcards, brochures, letters, catalogs, and other material that is printed and
mailed directly to consumers
 Telemarketing: Includes requested calling and cold calling of consumers over the phone
Broadcast marketing includes television and radio advertisements. Radio broadcasts have been around since
the 1900s, and the first commercial broadcast—a radio program supported by on-air advertisements—aired on
November 2, 1920. Television, the next step in entertainment technology, was quicker to adopt advertising,
with less than ten years between its inception and the first television commercial in 1941.
Direct mail marketing uses printed material like postcards, brochures, letters, catalogs, and fliers sent through
postal mail to attract consumers. One of the earliest and most well-known examples of direct mail is the Sears
Catalog, which was first mailed to consumers in 1888. (See also Direct Mail Marketing)
Finally, telephone marketing, or telemarketing, is the practice of delivering sales messages over the phone to
convince consumers to buy a product or service. This form of marketing has become somewhat controversial in
the modern age, with many telemarketers using aggressive sales tactics. The U.S. federal government has
passed strict laws governing the use of telemarketing to combat some of these techniques. (See
also Telemarketing)
Who employ traditional marketing?
Because it encompasses so many different strategies, nearly every company selling a product or service uses
one or more types of traditional marketing as part of an overall advertising strategy. For the most part, this form
of advertising depends on the company's available marketing budget.
Mid-sized companies and large corporations are most likely to use TV commercials. Advertising on television is
usually the most expensive form of marketing, with prices depending on the time slots and programming
content. For example, a 30-second commercial during Super Bowl 2012 was around $3.5 million, more than
$100,000 per second—and that figure doesn't include production costs.
Bigger companies also use direct mail more often, as the design, printing, and mailing expenses can add up to
substantial amounts. Mid-sized and large businesses often use all forms of traditional marketing in one way or
another.
Entrepreneurs and small businesses, who may have limited marketing budgets, most often use print marketing
in newspapers or newsletters to advertise to local customers. Many also place local radio advertisements.
Some use direct mail, and a few may employ limited telemarketing.
While network television commercials are usually out of the budget range for smaller companies, local cable
programming has made television advertising more accessible for these types of businesses, with costs
running as low as $15 for a 30-second spot, plus production expenses.
raditional marketing campaigns often have the advantage of staying power. They can become iconic, and instantly
familiar to millions of people. The top five memorable campaigns of the 20 th century, according to network television
powerhouse NBC, are:
Most memorable traditional markeing
1. McDonalds: “You deserve a break today”
2. Nike: “Just Do It”
3. Marlboro's “Marlboro Man”
4. Coca-Cola: “The pause that refreshes”
5. Volkswagen: “Think Small”

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What is Marketing?

The AMA’s definitions of marketing and marketing research are reviewed

Marketing is the activity, set of institutions, and processes for creating,

Definition of Marketing Research

ISO brand standards add that a brand “is an intangible asset” that is

According to the Association of National Advertisers (ANA), influencer

In influencer marketing, rather than marketing directly to a large group of

According to the Association of National Advertisers (ANA), relationship

Relationship marketing leverages database marketing, behavioral

Viral marketing is a marketing phenomenon that facilitates and

Nicknamed “viral” because the number of people exposed to a message

Green marketing refers to the development

Keyword marketing involves placing a marketing message in front

A key advantage of this method is that it gives marketers the ability to

Guerilla marketing describes an unconventional and

A product is defined as a bundle of attributes (features, functions,

Thus a product may be an idea, a physical entity (a good), or a service,

Price is the formal ratio that indicates the quantity of money, goods,

It is the amount a customer must pay to acquire a product. [1]

Distribution refers to the act of marketing and

In the 4Ps, distribution is represented by place or placement.

According to the Association of National Advertisers (ANA), promotion

Examples include coupons, sweepstakes, rebates, premiums, special

Marketing activities continue to evolve from traditional strategies to nontraditional methods

What is traditional marketing?

Who employ traditional marketing?

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