What is Marketing?

Overview of all marketing knowledge from A-Z

What is Marketing?

Marketing Definition
What is Marketing? It is also an issue that has received a lot of attention and is defined
differently. However, the most popular and applied is the definition of Philip Kotler - the father
of modern Marketing. Specifically, his definition is as follows:

“Marketing is the art of creating value, communicating and distributing those values ​to satisfy
the problem of the target customer to bring about the optimal profit of the business.”

At first, marketing was only popular and applied to businesses producing consumer goods,
later this field was expanded and applied to industrial, service and commercial enterprises.
Today, Marketing is applied to most business fields such as politics, culture, society, health,
etc., which plays a very important role in the development of businesses.

Marketing Classification
Marketing is divided into two main categories: traditional and modern.

● Traditional marketing: Often applied in the circulation stage, this is a marketing

activity that only works purely with the market and circulation channels. This
method is often not too customer-focused, but only focused on quickly consuming
products and services.

This form includes activities: advertising with flyers, sponsoring programs and events,
telemarketing, event organization, television advertising, email marketing.

● In contrast, modern marketing is more concerned with customers. Customer

behavior and needs are the key to successful Marketing campaigns and maximize
profits for businesses.

Modern marketing includes activities such as: website building, SEO, Social Media , Search
Engine Marketing, Video Marketing.

What is the marketing industry?

Marketing is one of the most popularly trained majors at universities, colleges and
intermediate schools with the aim of providing a body of knowledge about researching the
needs and tastes of customers and the market, analyzing the behavior of customers. users
and how to strategize to bring brands, products/services to potential customers in the fastest
way.

In Vietnam, the term Marketing is becoming a "hot" topic that many people are interested in.
Because this industry offers great job opportunities, challenges as well as interesting things
that this job brings. Accordingly, when studying Marketing , students will be supplemented
with relevant knowledge such as:

● Market research
● Market Segment
● Brand Positioning
● Make marketing plans and offer incentives
● Marketing budget planning
● Measure effectiveness

Find out the role of Marketing in the development of the business

After learning what is Marketing? and understand how to classify the forms of Marketing we
need to know about its importance to the development of the business.

1. Marketing provides information to customers

In the process of business operations, Marketing really plays a very important role in
providing useful information to customers about the products and services that the business
is providing.

Because more than anyone else, the marketing people in the business are the ones who
understand the product the most, so they have the responsibility to help customers
understand that information and then make a purchasing decision.

Specifically, the information that customers want to know:

● Detailed information about that product or service

● Information about promotions, benefits that customers can receive before making
a purchase decision

2. Balancing the competitive advantages of small businesses with large enterprises

Modern forms of Marketing help businesses save more costs, but the effect is enormous.
This helps small and medium enterprises to compete with the "big guys" in the industry.

“Hint: the modern consumer is often more concerned with the value he receives through the
experience than the price. Therefore, applying the 1:1 interaction method is extremely useful
to help businesses attract customers.”

Even businesses do better because they can spend more time interacting with customers
through different platforms.

3. Marketing helps businesses maintain relationships with customers

Businesses and customers are always closely linked, so maintaining this relationship is
extremely important. Thereby building customer trust and giving good reviews about
products and services. To do that, marketing is key.

By providing a block of knowledge or information through many different channels and

media, Marketing will help you keep a close relationship with customers. It also makes them
love their products and services, and maybe even become loyal customers in the future.

4. Marketing helps to interact with customers anytime, anywhere

Previously, a business could only interact with their customers through face-to-face
meetings. However, realizing that is not enough and customers need more than that. Using
Marketing helps businesses to interact with customers anytime, anywhere through many
different channels. This helps businesses and consumers establish a close relationship.

5. Marketing helps sales

Finally, marketing activities for businesses to help them maximize profits. Many people still
think that a good product will automatically generate good sales. This is not necessarily, if
your product is really quality but no one knows, no one uses it, it is very difficult to increase
sales.

At that time, what you need to do is promote your products in an attractive way through
various forms of Marketing.

6. Marketing helps businesses grow

In addition to helping to increase sales, marketing activities also make businesses grow and
customer files are also expanded from there.

The most popular types of marketing today

Currently, the application of Marketing in business activities is extremely necessary, no

matter in any field. Accordingly, businesses need to flexibly apply appropriate types of
marketing. Some of the most popular types of marketing today are:

SEO
SEO is the process of optimizing a website's content so that it appears in the highest ranking
position with useful content on Google's search results.

In fact, this method is applied by many marketers to attract interested customers. Website
optimization in SEO helps businesses save a lot of costs, even bring long-term and
sustainable effects.

Blog Marketing
In addition to a website, a business blog is also an effective marketing method. Businesses
can use this page to post useful information and knowledge about the products/services your
business is doing. It also helps your business increase its influence, maintain and strengthen
its position in the hearts of customers.

Social Marketing
Social Marketing helps businesses and customers connect with each other more easily,
thereby determining the success of a Marketing campaign. Social networks are popular and
are preferred by customers such as: Facebook, Zalo, Twitter, Instagram, etc. Especially,
thanks to this channel, your business can quickly be known to customers and access the
customer file. potential at its best.

Print Marketing
Marketing through newspapers and publications is still highly appreciated today. According
to research, there are still many people who regularly subscribe to newspapers and
magazines. Even follow the articles on the website.

WHICH
SEM is a form of helping the image and presence of the business most to customers through
search engines. This method is done by setting the way the link links to your web pages.

Video Marketing
In essence, video Marketing and Social Marketing seem similar, however, do not confuse
and combine these two forms into one. Because in fact, the behavior of users today is much
more intelligent, they have a lot of choices and often hesitate before those choices. Using
Video Marketing helps businesses quickly attract potential customers interested in their
products/services. Moreover, in marketing campaigns, video is often used a lot.

Email Marketing
Email Marketing is a way for businesses to reach potential customers directly. In addition,
this form is also used by businesses to take care of their customer files. Usually, the content
of marketing emails is used to introduce products, offer promotions to make customers have
behaviors that bring benefits to businesses.

Brand Marketing
This is the type of marketing that businesses are most interested in, helping businesses
build and position their brands based on the processes of shaping awareness and
connecting with customers in the best way. Brand Marketing can use many different forms
such as storytelling, creativity or emotional connection to help "touch" customers, thereby
helping the brand imprint in the user's mind .

To build a brand, businesses can do the following ways: sponsor programs, events,
participate in exhibitions, do Marketing at the point of sale.

Marketing mix and 4Ps in marketing

In marketing activities, people often apply the principles of 4P, 7P , 9P. However, in order to
be able to study deeply and thoroughly apply before finding a new variant of the Marketing
mix method, learners only need to pay attention to the 4P method. Specifically, in Marketing
4P includes: Product, Price, Promotion, Place. Let's find out in detail each P in the section
below:

Product – Product
The product of a business can be a physical good or a service. As a marketer, you need to
be able to answer the following questions:

● What is your "core" product line?

● Should additional product lines be expanded?
● Product packaging process?
● Through which channels do you plan to distribute your products (Online/Offline)?
● What is the warranty policy?
● Terms of return, exchange?

Pricing – Pricing
Determining the right product price for the market segment is extremely important.
Accordingly, in order to determine the price level and come up with an accurate pricing
strategy, a few things should be noted:

● It is necessary to carry out market research measures, analyze competitors to

determine the reasonable price of the product. The price of competitors in the
same segment, the market share of the product is also something that you need
to consider when determining the price of the product.
● Should there be discount policies at what time, how to apply them reasonably?
● Which payment options are suitable for customers?
● Apply flexible payment methods suitable for different types of products.

Promotion – Promotion
As mentioned above, if the product is good, the price is reasonable, but customers do not
know, the sales will still not prosper. Therefore, you need to come up with a promotion
strategy to help customers know and care about the product.

To do well this P, you need to pay attention to the following issues:

● What channels are suitable for promoting business products?

● Analyze the effectiveness of channels?
● Clearly state the message to be conveyed?

Place – Distribution
Moreover, the product also needs to be placed in the right place at the right time to attract
potential customers:

● Given the pros and cons of placing products there?

● What specific place can customers get the product?

source: FPTSKILLKING