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Here are some BASIC and FUNDAMENTAL Concepts of Marketing.

Definitions of Marketing-

The super basic definition- Managing profitable customer relations.

“Broadly defined, marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.”

“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.”

What is a Market?

The set of actual and potential buyers of a product.
These people share a need or want that can be satisfied through exchange relationships.

2 of the most important questions to ask before you can create your marketing strategy:

What is our target market? (What specific customers will we serve?)

What is our value proposition? (How can we serve these customers best?)

A company’s value proposition is the set of benefits or values it promises to deliver to customers to satisfy their needs.

This is also referred to as a USP- unique selling proposition. This forms the core of your marketing message. Sometimes you can encapsulate your usp into your businesses tagline. This should also be what is conveyed by the headline you use on your web site or in any ad campaigns.

5 Steps of the Marketing Process

1.) Understand the marketplace and customer needs and wants
2.) Design a  customer driven marketing strategy with the goal of getting, keeping, and growing target customers
3.) Construct a marketing program (4 P’s) that actually delivers superior value
4.) Build profitable customer relationships and customer delight
5.) Reap the rewards of these strong relationships by capturing value from customers

* Notice that the first 4 steps are all about value for the customer.
* The 4 P’s are Product, Price, Place, and Promotion

The Marketing Process

Situation Analysis
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Marketing Strategy
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Marketing Mix Decisions
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Implementation & Control

I will write future posts going into more detail about many of the above elements.
This is just an overview.

– Credit for many of these general concepts goes to the book
MARKETING- An Introduction By Armstrong & Kotler

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For a Great Free Online Course on the Fundamentals of Marketing– Go to:
http://www.smallbizu.org/m101/

A funny video about SEO, blogging, marketing, tweeting, etc… Creative delivery.

So many new inside jokes for tech savvy geeks. Gotta give it to Hub Spot for being creative in its gorilla marketing tactics. 🙂

I’m gonna give the link love song some link love…

Sometimes a book jumps off my bookshelf and says look at me again- Now!
Being that I am currently studying marketing, when I picked up the book ‘The Rise of the Creative Class’ By, Richard Florida again, I had a whole new appreciation for its contents.

This national bestseller written by a professor of economic development, makes many key contributions to the discussion about the central role of creativity in the economy, and specifically highlighting a growing class of society he calls the creative class.

HERE ARE SOME Gold NUGGETS  or KEY QUOTES to chew on:

“Many say that we now live in an “information” economy or a “knowledge” economy. But what’s more fundamentally true is that we now have an economy powered by human creativity. Creativity– “the ability to create meaningful new forms”, as Webster’s dictionary puts it- is now the decisive source of competitive advantage. In virtually every industry, from automobiles to fashion, food products, and information technology itself, the winners in the long run are those who can create and keep on creating.”

***

“The economic need for creativity has registered itself in the rise of a new class, which I call the Creative Class. Some 38 million Americans, 30% of all employed people, belong to this new class. I define the core of the Creative Class to include people in science and engineering, architecture and design, education, arts, music and entertainment, whose economic function is to create new ideas, new technology and/or new creative content. Around the core, the Creative class also includes a broader group of creative professionals in business and finance, law, health care and related fields. These people engage in complex problem solving that involves a great deal of independent judgment and requires high levels of education or human capital. In addition, all members of the Creative Class– whether they are artists or engineers, musicians or computer scientists, writers or entrepreneurs– share a common creative ethos that values creativity, individuality, difference, and merit.”

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“Given that creativity has emerged as the single most important source of economic growth, the best route to continued prosperity is by investing in our stock of creativity in all its forms, across the board. This entails more than just pumping up R&D spending or improving education, though both are important. It requires increasing investments in the multidimensional and varied forms of creativity– arts, music, culture, design and related fields– because all are linked and flourish together. It also means investing in the related infrastructures and communities that attract creative people from around the world and that broadly foment creativity.”

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The Creative Class  has 3 FUNDAMENTAL ISSUES TO ADDRESS:

1.) Investing in Creativity to ensure long-run economic growth.
2.) Overcoming the class divides that weaken our social fabric & threaten economic well-being.
3.) To build new forms of social cohesion in a world defined by by increasing diversity and beset by growing fragmentation.

This book shows how codependent and increasingly connected are the worlds of finance/business/economy and the worlds of the arts/creativity/culture.

It also really broadens the scope of what we may usually categorize as “creative work” and illuminates the integral role that creativity has in many of the jobs central to our economic health.