How many of you remember what marketing was like before all the TV commercials, the Facebook/Twitter/Instagram posts etc?
I’m sure it took a few seconds to recollect your thoughts. If you do, then you’re one of the few lucky (or rather unlucky) ones to have witnessed the social media revolution and how it enabled business owners and retailers to take their marketing campaigns to the next level.
So, What Is Marketing?
The American Marketing Association defines marketing as “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.”
There are both internal and external marketing factors which interact with one another in any campaign and impact the overall success. These are
- Product/Service offered
- Place (a.k.a. distribution)
Moreover, in order to satisfy predefined organisational objectives and stay ahead of the competition, organisations should anticipate certain wants and needs of its customers and satisfy them better than anyone else in the market.