What is Marketing?

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What is Marketing?  The traditional textbook answer usually mentions the “4 P’s of Marketing:” Product, Price, Place, & Promotion. This is NOT an adequate definition. Why? Because of the Marketing “M’s”

-Market
-Message
-Medium

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What is Marketing?

  1. 1. What is Marketing? © SO! What? SOcial www.sowhatsocial.com
  2. 2. What is Marketing? The traditionaltextbook answer usually mentions the “4P’s of Marketing:” Product, Price, Place, & Promotion. This is NOT an adequate definition. Why? Because of the Marketing “M’s” © SO! What? SOcial www.sowhatsocial.com
  3. 3. Market Who or what is the ‘right market’? Your market consists of your target customers and the factors that cause them to change. What are the specific demographics ofthis market? These demographics could include age, sex, status just to name a few. Your market isn’t “everyone”. Best practice to narrow it down to who is the ‘right market’ for your company, product or service and your marketing will be more effective guaranteed. © SO! What? SOcial www.sowhatsocial.com
  4. 4. Message How? — and what — your brand is communicating. What is the ‘right message’? The message that yourbusiness conveys to your target audience is extremely important. © SO! What? SOcial www.sowhatsocial.com
  5. 5. MediumWhat is the ‘right medium’ to use in order to best reach your ideal market with yourmessage? Each and every industry and nicheis different in one way or another. Knowingwho your ideal customer is a start-point to knowing what types of media they google, watch, read, listen to, and engage with. © SO! What? SOcial www.sowhatsocial.com
  6. 6. And, in that order. It is a very common error for many businesses to start with the wrong ‘M’ – often they start with Medium. The 3 M’s ofmarketing seems pretty simple and SO why do somany business owners get it wrong? Best guess is because they’ve never been taught like thisbefore. Chances are they have been taught the 4marketing P’s and other textbook type definitions which neglect to encompass these important 3 M’s. © SO! What? SOcial www.sowhatsocial.com
  7. 7. SO! What? A SOcial MediaCompany. Engage. Connect. SOcialize Located in Vancouver More information? Connect with us! www.sowhatsocial.com © SO! What? SOcial www.sowhatsocial.com
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