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The importance of marketing for a business
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses
“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.
Some types of Marketing
Digital marketing doesn’t refer to any one strategy—rather, it’s a broad term encompassing marketing that uses digital technology.
Social media marketing
This valuable marketing strategy involves promoting your brand via social media platforms, such as Facebook, Instagram, Twitter, Pinterest, LinkedIn or YouTube.
Advertising is a branch of marketing that uses ad campaigns to present your brand, product, service or idea to the world.
Incorporating fun and engaging video into your marketing assets can be a great way to creatively display your brand—and it gives you ample time and space to convey your message.
Neuromarketers analyze brain imaging and scanning to measure physiological and neural responses to marketing stimuli. They can tell, for instance, if a customer is genuinely happy with a particular product, even if they don’t verbally express it.
Influencer marketing involves using Instagram and other social platforms to partner with influencers—people who already have dedicated, engaged followers. These people are considered experts in their field, and their followers will take their recommendations to heart
Some good marketing examples
Burger King trolling McDonald’s
Burger King has been using humor and wit to market its fast-food brand to a target demographic since the mid-2000s.
First was an offer to their competitor, McDonald’s to combine the iconic Big Mac with the equally famous Whopper. Burger King ‘penned’ an open letter to McDonald’s that spanned all types of media, to offer the partnership (McDonald’s declined)- and with that, caught the eye- and tickled the funny bones- of the audience.
Bank of America’s partnership with Khan Academy
Bank of America (BoA) started this marketing campaign with an email campaign which started to pique the interest of its customers-, with information regarding the Khan Academy partnership.
This was followed up with a series of videos showing real people in real-life careers talking about their experiences. The vignettes featured, among others, a hair salon owner, a teacher, a firefighter, a customer service representative, and an architect.
Dove’s “Real Beauty” Campaign
This award-winning campaign, boiled down, aimed at women of all ages centered on empowering by fixing self-esteem rather than fixing bodies and faces, and celebrating differences. This was a change from almost any marketing aimed at women. Though this campaign wasn’t without controversy of its own, the idea was to empower the women it was marketing to. Dove, owned by Unilever, began the campaign after commissioning a study that revealed that only 2 percent of the women interviewed for the study considered themselves beautiful.
What a company do before launching their products
They are making the marketing strategy and the marketing plan
Then, they are assesing organizational resources and opportunities
And, finally they looks at strengths, weaknesses, opportunities and threats, using the SWOT analysis