What Is Marketing? – Sticky Marketing Club [Video]

DEFINITION OF MARKETING: Marketing is; the process of determining, communicating and delivering value in order to obtain and retain customers.

When people think of marketing, they think of the sexy sponsorships, the great advertising and that corporate hospitality – dining out on the company’s account.

But what that addresses is communications, often called marcom or marketing communications and that, actually, is only one small part of marketing.

So if marketing isn’t just communications, what is it?

Marketing is; the process of determining, communicating and delivering value in order to obtain and retain customers.

So if our communication is part of it, what about the rest of the definition?

‘Determining value’ means; working out what you’re going to offer, the scope of it and what you’re going to charge customers.

And finally, ‘Delivering value’ is all about distribution. It’s the way customers are going to be able to access the offer.

Will you be web only?

Will you sell through partners?

Through retail,

Direct?

That is a marketing decision.

Because …