What is Marketing?

According to the American Marketing Association, “marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” Just what does this mean?

The answer seems simple: marketing is just about anything that draws customers to your business and keeps them coming back. Yet this is not so simple to accomplish. One thing to keep in mind is that marketing is a process, not an isolated activity. And you need to have a plan that is put into action on a consistent basis.

Incorporate your marketing plan into your annual business goals. It is a good idea to review it quarterly to see if it is working. If something is successful, keep it in your plan. If something isn’t adding additional business or building meaningful customer relationships, then don’t waste your efforts on it. Just because you have always done it that way doesn’t mean you have to continue it. Take a chance and try something else.

Many people confuse marketing with advertising. Advertising is a marketing strategy, not marketing in its entirety. Other strategies may include: a discount coupon, punch card or repeat customer discount, special event, newsletter, speaking engagements, participation in community events and so on. The list of marketing ideas is only restricted by your imagination and your willingness to add value to what you offer your customers.