At its highest level, marketing is about delivering a competitive advantage with longevity and a satisfactory return for an organisation’s or individual’s stakeholders. Put another way, like it or not, it’s about profit – which is achieved by delivering more sustainable value to everyone involved than your competitors do.
As with everything, when you delve a little deeper, Marketing gets more complicated. To keep it simple at this stage, I would consider the main role of Marketing to be communication with ALL stakeholders – stakeholders being customers, employees, the public, investors, influencers…the list goes on.
Marketing decides the who, what, how and when of business communication. Communication is how you reach people, it’s how they know you exist and what you do – it influences how they see your brand and if they want to spend their money with you. Ultimately it’s what achieves the high level statement outlined at the beginning of this article.
You may have heard of the four or seven P’s of Marketing – Product, Price, Place, Promotion, People, Physical Evidence and Processes. These are the tools which all marketers use to deliver their objectives. You can read more about these in our Basics of the Marketing Mix article.
So if you’re new to marketing, I would urge you to start by really understanding the marketing mix and marketing communications. Get to know these two things and how to use them to achieve a sustainable and profitable competitive advantage – master them and you will be set for marketing super stardom!