What is Marketing? Definition, strategies, and history

Marketing is the process of getting potential clients or customers interested in your products and services. The keyword in this definition is “process“. Marketing involves researching, promoting, selling, and distributing your products or services.

This discipline centers on the study of market and consumer behaviors and it analyzes the commercial management of companies in order to attract, acquire, and retain customers by satisfying their wants and needs and instilling brand loyalty.

 

What is Marketing? 

The 4 Ps of Marketing

According to E. J. McCarthy, the 4 Ps of Marketing are a simple formula for identifying and working with the essential elements of your marketing strategy.

  • Product. Having a product is key and is the root of all things marketing. A product could be anything that a company offers consumers to satisfy a need. The best thing to do is to decide on your product or service based both on the needs and motivations of consumers and how the product would benefit the consumer, rather than on the object’s physical characteristics or attributes.
  • Place. Strategic merchandising locations can be anything from an online store (ecommerce) to a channel of physical stores across multiple towns or countries. The goal of the distribution strategy is to enable potential clients to have easy access to your products/services as well as offer a good experience throughout the purchasing process.  
  • Price. How we price our products and services is an extremely important part of the marketing strategy. This factor affects other factors such as:
    • The margin we hope to obtain.
    • What target market do we want to present ourselves to and what purchasing power do our consumers have? Do we want to enter the luxury market or bet on the mass market?
    • The company’s financial goals.
    • How does the competition price their products and what possible product substitutes are there?
    • Trends and fads.
    • Increased price in order to give a better perception of quality.
  • Promotion. This refers to all the marketing and communication actions we carry out in order to diffuse the benefits and characteristics of our product or service within the market. This is how we increase sales.

Different Marketing Strategies 

Marketing is not just one single strategy, but rather a combination of many different techniques and tactics. Below we’ve listed some essential marketing strategies that you should know about. Click on the red links to learn more about each of these strategies. 

Don’t forget that the most important step which is starting your own marketing strategy! If you’re looking to launch (or relaunch) a new product or service, we have much to offer you. We would be thrilled to be your expert partner and help you attract visits, fully optimize your campaigns, and get the best ROI!

 

The History of Marketing 

Do you know how marketing has evolved over time?

 

Not too long ago, marketing mostly consisted of outbound marketing, which meant chasing potential customers with promotions without really knowing if that person was interested in purchasing. Thanks to the digital transformation and the rise of new communication channels, marketing has drastically changed over the years.

 

To understand how marketing has changed, let’s take a look at this timeline HubSpot has assembled showcasing the innovations of this industry. 

 

1450-1900: Printed Advertising 

  • 1450, Gutenberg invents the printing press. The world of books and mass copies is revolutionized.
  • 1730, the magazine emerges as a means of communication.
  • 1741, the first American magazine is published in Philadelphia.
  • 1839, posters become so popular that it becomes prohibited to put them in London properties.

1920-1949: New Media

  • 1922, radio advertising begins.
  • 1933, more than half of the population in the United States (55.2%) has a radio in their home. 
  • 1941, television advertising begins. The first advertisement was for Bulova watches and reached 4,000 homes that had television.
  • 1946, more than 50% of the homes in the United States already had a telephone.

1950-1972: Marketing is Born and Grows

  • 1954, for the first time revenue from television advertising surpasses revenue from radio and magazine ads.
  • Telemarketing grows as a means of contacting buyers directly. 
  • 1972, print media suffers an exhaustion of the outbound marketing formula.

1973-1994: The Digital Era Flourishes

  • 1973, Martin Cooper, a Motorola researcher, makes the first call through a cell phone.
  • 1981, IBM launches its first personal computer.
  • 1984, Apple introduces the new Macintosh. 
  • 1990-1994, major advances in 2G technology, which would lay the foundation for the future explosion of mobile TV.
  • 1994, the first case of commercial spam through e-commerce is produced.

1995-2020: The Era of Search Engines and Social Media

  • 1995, the Yahoo! and Altavista search engines are born. 
  • 1995-1997, the concept of SEO is born.
  • 1998, Google and MSN launch new search engines.
  • 1998, the concept of blogging arises. By mid-2006, there are already 50 million blogs worldwide.
  • 2003-2012, the era of inbound marketing begins.
  • 2003-2004, three social networks are launched: LinkedIn, MySpace and Facebook.
  • 2005, the first video is posted on YouTube
  • 2006, Twitter is born.
  • 2009, Google launches real time searches.
  • 2010, 90% of all American households have a cell phone. Instagram is created in October 10.
  • Young people between the ages of 13 and 24 spend 13.7 hours on the Internet, compared to 13.6 hours watching television.
  • 2011, Snapchat is created, driving even more young users to their phones and fueling the social media app craze.
  • 2012, there are already 54.8 million tablet users.
  • 2014, the rise of Influencer marketing begins. Users and brands alike begin to realize the power of social media users with large followings
  • 2014, for the first time ever mobile usage outweighs desktop usage. More users are checking social media, reading emails, and making purchases on their phones. 
  • 2015-2016, big data and marketing automation are explored and used more robustly to advertise to users. 
  • 2018, video marketing continues to grow, especially with Instagram’s launch of IGTV. Video content is no longer just limited to YouTube and Facebook. 
  • 2019-2020, Move over millennials! Gen Z is the new focus and they have a hot new app: TikTok. 

It will be interesting to see where marketing continues to grow. With new world events, like the COVID-19 crisis of 2020 causing millions of people to stay in doors, social media and marketing trends are sure to change, and we’ll be right here to track them. 

Cyberclick’s View on Marketing 

Marketing is any strategy or action which can help a company achieve their goals, increase their sales and profits, and/or have  improved brand perception.

 

Here at Cyberclick, we live and breathe marketing and advertising; it’s in our DNA!

We are experts in attracting users to our clients’ websites or landing pages through marketing acquisition.

 

Cyberclick is a performance marketing agency. We analyze each new project we get and, if we see it as viable, we can ensure certain results according to a client’s goals. You might be thinking, “what’s so special about performance marketing?” The special thing is that a client only pays when results are achieved!

 

How Can We Help You?

We will assess how to best optimize your digital marketing strategy and how to best distribute your budget across all channels.

  • We keep track of everything and exceed expectations.
  • We have an analytic vision and react in the shortest possible time.
  • We are always testing. We guarantee the best impact by thoroughly studying each campaign and/or ad, carrying out multiple tests in order to find which factors work best, and continually optimizing your digital marketing plan.
  • We will increase the number of users who are happy with both your company and the experience they have had with you.
  • Thanks to technology and artificial intelligence, we continually analyze results in real time.

Source Article

Next Post

2021 IT (Information Technology) Industry Trends Analysis | Business of Technology

Wed Mar 24 , 2021
I t didn’t take long for the optimism of a new decade to wear off. By the end of Q1 2020, companies everywhere were reeling as they reckoned with the effects of the COVID-19 pandemic. Sadly, the impact of the virus was too much for many firms, leaving millions of […]