fbpx

Consumer Behaviour: Workshop – Market Segmentation Example 🙂

You're Reading:80+ Reasons Why Marketing Has Strategic Significance

80+ Reasons Why Marketing Has Strategic Significance

by Tasos

}

Nov 15, 2020

7 IDEALS METHODOLOGY DOCUMENTARY

I’m filming the last part. The finish line (Feb 02). 

TODAY'S SPONSORS

Law for AI by Peter Nieves: Top 3 Legal Concerns for AI Bot Users by an Award-Winning and Nationally Recognized IP Attorney. Plus, 5-Day “Protect Your Idea” Challenge – Jan 22-26.

The Traffic Syndicate: Mike Filsaime, Jesse Doubek, and Groove Digital are proud to introduce: the 12 Fundamental Laws of Successful Ad Campaigns. 

🚀 Unlimited Unstoppable TRAFFIC. Interviews with the experts, webinars, funnels masterclass.

Secret Money by The Wholesale Formula eCommerce Experts.

Attention Entrepreneurs: Dive into established brands with proven success – and uncover why they still need YOU. Real-world products, high-profit margins, and 1000s of lucrative opportunities awaiting at Amazon so you can profit like clockwork. Your success story starts here.

Join any event from the above and get booked for a 3-session 1-on-1 coaching experience with me (at no cost). Get ongoing email support, guidance, and feedback throughout the events. Let me know more about you, ask specific questions about your business or business ideas,  and let me walk you through the revolutionary “7 IDEALS” methodology with which I help small business owners innovate and change the world. Complete the short questionnaire and schedule a video-call meeting to discuss the details in-person. 🚀

This is an area for advertising & partnerships. NEW option: Pay-per-Click.

In the dynamic landscape of business, where innovation and competition intertwine, the role of marketing emerges as a compass, guiding enterprises toward success. To the uninitiated, marketing might seem like a mere buzzword, associated with flashy advertisements and promotional gimmicks.

However, delve deeper, and you’ll uncover a multifaceted discipline that serves as the lifeblood of organizational growth and resilience.

This article aims to unravel the layers of the intricate tapestry that is marketing, shedding light on its profound importance in shaping the destiny of businesses large and small. Beyond the billboards and social media campaigns, marketing is a strategic powerhouse that fuels customer engagement, and propels brand evolution and revenue streams.

Embark on a journey with me as I explore the fundamental pillars of marketing, deciphering why it is not merely a choice but an indispensable element for thriving in the contemporary business ecosystem. From cultivating customer connections to navigating the nuances of market trends, I invite you to discover the essence of marketing and how it serves as the cornerstone for organizational triumph.

As we unravel the significance of marketing, prepare to witness how this dynamic discipline transcends conventional boundaries, leaving an indelible mark on the success stories of businesses worldwide.

The Strategic Significance of Marketing

Why There Are People Who Wonder

The question of whether marketing is necessary or not may arise for several reasons, and perspectives on its necessity can vary. Here are a few reasons why people might wonder about the importance of marketing:

Misunderstanding of Marketing: Some individuals may not fully understand the scope and purpose of marketing. They might associate it solely with advertising or sales, overlooking its broader role in creating value, building relationships, and driving business success.

Cost Concerns: Small businesses or individuals with limited resources may question the necessity of marketing due to concerns about costs. They may view marketing as an expense rather than an investment, especially if they don’t see an immediate and direct correlation between marketing efforts and revenue.

Overemphasis on Product Quality: Some individuals believe that if a product or service is of high quality, it will naturally sell itself without the need for marketing. While product quality is crucial, marketing is essential for creating awareness, differentiation, and convincing potential customers of the value the product or service offers.

Word-of-Mouth Trust: There is a belief in the power of word-of-mouth marketing and referrals. While these are valuable aspects of marketing, they often work more effectively when complemented by intentional marketing strategies that reach a wider audience.

Changing Marketing Landscape: The rapid evolution of the marketing landscape, especially with the rise of digital marketing and social media, can be overwhelming. Some may wonder if traditional marketing methods are still relevant or if they should focus solely on newer approaches.

Immediate Results Expectations: In the era of instant gratification, some people might expect immediate and tangible results from marketing efforts. When the outcomes are not immediate, they may question the effectiveness or necessity of marketing.

Negative Perceptions of Marketing Practices: Skepticism or negative perceptions about certain marketing practices, such as manipulative advertising or intrusive tactics, can lead people to question the ethics and overall value of marketing.

In reality, marketing is a fundamental and necessary function for businesses and organizations. It is about understanding and meeting the needs of customers, creating value, and communicating that value effectively. When done strategically and ethically, marketing contributes significantly to the success and growth of businesses in various industries.

A Story

I remember I was discussing with a local entrepreneur 2 years ago when we first met at our kids’ football game.

He is selling plant pots to traders around the country.

When I explained a few things about how I work, he shared a story.

He always believed that marketing and advertising are just a waste of money, an unnecessary luxury, an expense without meaning. Just like my father.

But one day he was on a business trip somewhere and he was invited to a trade show by the founder of a magazine.

He did not want to attend the show and he did not want to refuse their proposal by just saying no either.

So he decided to give away a beautiful small tree as a gift for their show and he explained that he had to go back to his town.

The founder of the magazine was impressed by his gift and later when they spoke on the phone he informed him that they took pictures of the plant in the show with various attendees and that he created a mini ad space for the donated tree in his magazine.

It was a picture with a tiny little ad at the bottom of the page.

It was just saying…this tree was donated by Mr. X for this show along with his telephone number.

For many months, after the ad was created, he was receiving phone calls from various business people all over the country telling him that they wanted a tree like the one in the picture for their facilities. The donated tree paid off its value 50X eventually, not to mention the new business relationships he could take advantage of.

This is when he realized the phenomenal power of marketing.

What is Marketing?

Marketing is the art and science of drawing attention to a company’s products and services and it incorporates research, market segmentation, branding, awareness, advertising, sales, customer service, public relations, product design and distribution, and more.

It’s about interacting and engaging with the marketplace, nurturing prospects, converting them into paying customers by providing solutions to their problems, needs, and wants, and turning them into repeat buyers, advocates, and promoters of a brand.

Marketing can be defined as the strategic process of creating, communicating, delivering, and exchanging value to satisfy the needs of a target market, with the ultimate goal of achieving business objectives.

I could go on and on here!

Basic Reasons Why Marketing is so Important

Market Research: Marketing involves understanding customer needs, preferences, and market trends. Through market research, companies can gather valuable insights by studying consumer behaviour that informs product development, pricing strategies, and overall business decisions.

Market Segmentation: Marketing employs market segmentation to identify and target specific customer groups with tailored strategies, recognizing the diverse needs and preferences within a market, thereby optimizing resource allocation and increasing the effectiveness of promotional efforts.

Customer Awareness and Acquisition: Marketing helps create awareness about a product or service among potential customers. It aims to reach the target audience and convince them of the value proposition, ultimately leading to customer acquisition.

Brand Building: Marketing is essential for building and maintaining a strong brand. A well-defined and consistently communicated brand helps establish trust and loyalty among customers. A strong brand can also command premium prices and differentiate a business from its competitors.

Competitive Advantage: In a competitive market, effective marketing can give a company a competitive edge. It allows businesses to highlight their unique selling proposition and differentiate themselves from competitors, making them more attractive to consumers. Plus, marketing helps brands craft a unique value proposition, that is, a clear, concise, and compelling statement that describes the unique value of the brand – the big picture of what the brand offers.

Related:

  • 7 IDEALS Methodology – Phase #2 BIG IDEAS. I developed my own frameworks to help small businesses craft compelling manifestos, and unique selling  and value propositions.

Revenue Generation: Effective marketing strategies contribute directly to revenue generation. By attracting customers and convincing them to make a purchase, marketing efforts directly impact a company’s bottom line.

Relationship Building: Marketing is not just about making a sale; it’s also about building relationships with customers. Establishing a positive relationship with customers can lead to repeat business, customer loyalty, and positive word-of-mouth marketing.

Innovation and Adaptation: Marketing encourages innovation by promoting the development of new products or services that meet evolving customer needs. It also helps companies adapt to changes in the market environment and stay ahead of the competition.

Communication: Marketing is a tool for effective communication. It allows businesses to communicate with their target audience, share information about products or services, and address customer concerns. Clear communication helps in building trust and credibility.

Employee Morale: Internal marketing is also important. Communicating the company’s mission, values, and successes internally helps boost employee morale. When employees understand and believe in the company’s goals, they are more likely to contribute positively to its success.

Global Reach: With the advent of digital marketing and online platforms, businesses can reach a global audience. This opens up new opportunities for growth and expansion beyond local markets.

Consumer Engagement: Marketing serves as the catalyst for consumer engagement by creating compelling and personalized experiences, leveraging various channels to connect with audiences, and fostering meaningful interactions that resonate with individuals’ needs and preferences.

Customer Education & Information:  Marketing plays a crucial role in customer education and information dissemination by providing valuable content, clear communication, and relevant resources to empower consumers with the knowledge needed to make informed decisions about products and services.

Business Growth and Development: Marketing is the driving force behind business growth and development, employing strategic planning, customer-centric approaches, and market insights to expand reach, increase sales, and cultivate a sustainable trajectory for organizations.

User Experience: Marketing plays a pivotal role in shaping a positive user experience by aligning messaging, design, and interactions with customer expectations, fostering satisfaction and loyalty throughout the customer journey.

Networking: Marketing facilitates networking by establishing and nurturing connections with stakeholders, influencers, and industry partners, leveraging relationships to enhance brand visibility, credibility, and collaborative opportunities.

Insights Into the Competition: Marketing provides valuable insights into the competition by conducting competitive analysis, monitoring industry trends, and gathering data on competitors’ strategies, enabling businesses to make informed decisions and stay ahead in the market.

Assists Management: Marketing plays a vital role in assisting management in making informed decisions by providing market research, customer insights, and data-driven analyses, enabling strategic planning and effective resource allocation.

Lead Generation: Marketing takes the lead in lead generation by employing strategic tactics, content marketing, and targeted campaigns to attract and nurture potential customers, ultimately driving them through the sales funnel for conversion.

Responsibility and Ethical Practices: Marketing plays a crucial role in promoting social and cultural responsibility, and ethical business practices by aligning brand messaging with values, fostering transparency, and engaging in initiatives that contribute positively to society, thereby enhancing brand credibility and goodwill.

Extra Reasons Why Marketing is so Important

Trust and Credibility: Marketing plays a pivotal role in building trust and credibility by consistently delivering transparent, authentic, and reliable messaging that aligns with customer expectations. Through strategic communication and ethical practices, marketing fosters a positive brand image, instilling confidence in consumers and forging enduring relationships based on reliability and integrity.

Blogs, digital content, free information, testimonials, awards, and other formats of advertising and marketing help brands gain status and earn customers’ trust.

Helps Customers Visualise Beautiful Outcomes: Marketing excels in crafting compelling narratives and visuals to vividly illustrate the transformative and beautiful outcomes of using specific products or services, sparking the imagination of customers and creating aspirational connections.

Attracts the “Right” Customers: Marketing strategically shapes messaging, targeting, and positioning to attract the “right” customers who align with a brand’s values and needs, while simultaneously repelling the “wrong” ones, ensuring a more precise and harmonious customer base.

Reduces Production Costs and Risks: While not directly reducing production costs, marketing contributes to minimizing risks by identifying and responding to market demands, optimizing product-market fit, and ensuring efficient resource allocation, thereby enhancing cost-effectiveness and mitigating potential business risks.

Sustains a Brand’s Presence and Reputation: Marketing is instrumental in sustaining a brand’s presence and reputation by consistently reinforcing its values, communicating effectively with stakeholders, and adapting strategies to evolving market dynamics, ensuring enduring positive perceptions.

Customer Retention and Loyalty: Marketing cultivates customer retention and loyalty by fostering meaningful relationships, personalized engagement strategies, and ongoing communication, ensuring a positive customer experience that encourages repeat business and advocacy.

New Revenue Streams: Marketing plays a crucial role in creating new revenue streams by identifying market opportunities, launching innovative products or services, and effectively promoting them to target audiences, driving increased sales and diversified income channels.

Helps in Gaining Social Followers: Marketing strategically utilizes various platforms, content, and engagement tactics to build and grow a social following, fostering a community around a brand and amplifying its reach and influence in the digital landscape.

Conversion Rates: Marketing optimizes conversion rates by employing data-driven strategies, compelling messaging, and targeted campaigns to enhance customer engagement and satisfaction, ultimately translating leads into successful transactions and driving overall business growth.

Overall Business Success: Marketing is integral to overall business success, driving customer acquisition, fostering brand loyalty, informing strategic decisions, and adapting to market dynamics, ensuring sustained growth and competitiveness.

Hidden Opportunities: Marketing serves as a lens for discovering hidden opportunities in the marketplace by analyzing consumer needs, market trends, and competitor gaps, unveiling untapped potential for innovation, growth, and strategic advantage.

Recognises Unsatisfied Groups of People: Marketing plays a critical role in recognizing unsatisfied groups of people by conducting thorough market research, identifying unmet needs, and tailoring strategies to address gaps in satisfaction, fostering opportunities for targeted solutions and customer satisfaction.

Visibility: Marketing enhances visibility by strategically utilizing channels, content, and branding to increase a business’s presence in the market, ensuring it remains top-of-mind for the target audience and stands out in a crowded landscape.

Leader Positioning: Marketing strategically positions a brand as a leader by communicating its unique value proposition, expertise, and thought leadership, fostering trust, credibility, and a competitive edge in the minds of the target audience.

Motivates Consumers: Marketing motivates people to take action by strategically crafting compelling messages, leveraging psychological triggers, and creating a sense of urgency, prompting individuals to make informed decisions, whether it be a purchase, sign-up, or engagement.

Consumers’ Vision: Marketing facilitates the envisioning of a better future by creating aspirational narratives, demonstrating how products or services can positively impact individuals’ lives, and fostering emotional connections that inspire consumers to see a brighter and improved path forward.

Helps Consumers Solve Real Problems: Marketing aids individuals in problem-solving by positioning products or services as solutions, providing relevant information, and showcasing the benefits and features that address specific issues and challenges, empowering consumers to make informed decisions.

Offers Incentives: Marketing strategically employs incentives to stimulate customer interest and action, leveraging discounts, promotions, or rewards to create a sense of value, urgency, and reciprocity that encourages consumers to engage, purchase, and remain loyal.

Community Building: Marketing plays a pivotal role in community building by fostering shared values, facilitating meaningful interactions, and creating a sense of belonging, ultimately cultivating a loyal and engaged community around a brand or product.

Reduces Risk From Buyers: Marketing helps reduce risk for buyers by providing transparent information, building credibility through testimonials and reviews, and addressing concerns proactively, thereby instilling confidence and facilitating informed purchasing decisions.

Results and Satisfaction Guarantee: Marketing contributes to guaranteeing results and satisfaction by setting clear expectations, communicating value propositions, and delivering on promises, fostering a positive customer experience that enhances trust and builds long-term relationships.

Consumers’ Appreciation and Gratitude: Marketing expresses appreciation and gratitude to customers by crafting personalized messages, exclusive offers, and loyalty programs, fostering a sense of importance and connection that strengthens the customer-brand relationship.

Keeps Customers On Alert: Marketing keeps customers on alert and engaged by consistently delivering relevant and captivating content, leveraging various channels, and incorporating interactive elements that sustain interest, encourage participation, and maintain an ongoing connection with the brand.

Decreases Overhead:

Marketing contributes to decreasing overhead by optimizing resource allocation, improving efficiency through targeted campaigns, and leveraging cost-effective channels, ensuring a more streamlined and cost-efficient approach to reaching and engaging with the target audience.

Reduces Refund RatesMarketing helps reduce refund rates by accurately setting expectations, transparently communicating product or service features, and addressing potential concerns, ensuring customers make informed purchasing decisions and are more satisfied with their choices.

Improves Product Quality: Marketing contributes to improving product quality by gathering customer feedback, conducting market research, and communicating consumer preferences to inform product development, ensuring that the offerings align with customer expectations and satisfaction.

Expansion: Marketing plays a pivotal role in expanding into new territories and audiences by conducting market research, adapting strategies to diverse demographics, and creating targeted campaigns that resonate with different cultural contexts, facilitating growth and market penetration.

Value to the Marketplace: Marketing serves as the conduit for delivering holistic value to the marketplace by aligning the interests and needs of all parties involved—customers, stakeholders, and the business—through strategic communication, ethical practices, and a customer-centric approach.

Leverage: Marketing provides businesses with leverage by strategically positioning their products or services, fostering brand recognition, and creating a positive reputation, enabling them to negotiate advantageous partnerships, attract top talent, and navigate competitive landscapes more effectively.

Attracts Investors: Marketing serves as a catalyst for attracting investors, funding, influencers, vendors, and sponsors by effectively communicating a compelling narrative, showcasing a strong brand presence, and demonstrating market viability, thus creating a favourable environment for strategic partnerships and financial support.

Recession-Proofs the Business: During periods of recession and economic downturns, marketing becomes a strategic lifeline for businesses, as it helps identify cost-effective strategies, maintain brand visibility, and adapt offerings to evolving customer needs, ensuring resilience and positioning for recovery.

Reminder: Marketing plays a vital role in reminding people that a brand still exists by employing consistent and strategic communication, maintaining visibility across various channels, and adapting creative approaches to stay top-of-mind in the competitive landscape.

Keeps the Market Share: Brands that don’t utilize marketing are likely to lose share to their competitors. Effective marketing is essential for creating brand awareness, engaging customers, and staying competitive in the market. Without marketing efforts, a brand may struggle to reach its target audience, differentiate itself, and communicate its value proposition, making it susceptible to losing market share to more visible and actively marketed competitors.

Impact: Marketing empowers brands to impact the world by strategically communicating their values, purpose, and positive contributions, fostering connections with socially conscious consumers and inspiring meaningful change on a global scale.

Extra Reasons Relative to Specific Marketing Activities

Following Up On Prospects: Following up on prospects through marketing efforts is essential for nurturing relationships, building trust, and increasing conversion rates, as it ensures continued engagement and addresses potential concerns or questions, ultimately guiding prospects through the sales funnel.

Content Marketing’s: Content marketing is crucial for building brand authority, engaging audiences, and driving customer loyalty, as it provides valuable, relevant, and consistent information that resonates with the target audience, establishing a brand as a trusted resource in its industry.

Testing – Optimisation: Marketing plays a pivotal role in testing and optimizing various elements such as prices, quality, design, and ad copy through market research, experimentation, and data analysis, ensuring informed decision-making and the continuous improvement of strategies for enhanced effectiveness.

Product Launches: Marketing plays a key role in product launches by strategically building excitement, anticipation, and buzz through engaging campaigns, teasers, and storytelling, creating a positive pre-launch atmosphere that maximizes awareness and consumer interest.

Partnerships: Marketing plays a crucial role in opening doors for partnerships by showcasing a brand’s value proposition, credibility, and audience reach, creating mutually beneficial opportunities and fostering collaborations that enhance both parties’ market presence.

Affiliate Marketing: Affiliate marketing is crucial for business owners as it provides a cost-effective and performance-driven strategy, allowing them to leverage the influence of affiliates to expand reach, drive sales, and enhance brand credibility without upfront expenses.

Guerrilla Marketing: Guerrilla marketing is crucial for its unconventional, low-cost tactics that create memorable, engaging experiences, generating buzz and maximizing impact in a saturated market environment.

Search Engine Optimisation: SEO (Search Engine Optimization) is crucial for enhancing online visibility, increasing organic traffic, and improving search engine rankings, enabling businesses to reach their target audience effectively and compete in the digital landscape.

Keyword Research: Keyword research is vital for effective SEO and content strategy, as it helps businesses understand customer intent, optimize content for search engines, and improve online visibility by targeting relevant and high-performing keywords. Plus, keyword research is important for understanding the language that consumers use. By identifying the specific words and phrases people use when searching for products or information, businesses can tailor their content and messaging to align with consumer language, improving the chances of being discovered through search engines and resonating with their target audience.

Direct Response Marketing: Direct response marketing is crucial for generating immediate, measurable consumer actions, such as making a purchase or signing up for a service, providing businesses with tangible results and a clear return on investment.

Copywriting: Copywriting is essential for crafting persuasive and compelling written content that captures attention, communicates a brand’s message effectively, and motivates the audience to take desired actions, thereby driving engagement and conversions.

Storytelling: Storytelling is crucial for connecting emotionally with audiences, building brand identity, and conveying complex information in a relatable and memorable way, fostering engagement and leaving a lasting impact.

Search Engine Marketing: SEM (Search Engine Marketing) paid advertising is crucial for businesses to immediately increase visibility on search engine results, target specific audiences, and achieve rapid and measurable results, driving traffic, and enhancing online presence.

Email Marketing: Email marketing is essential for building and nurturing relationships with a targeted audience, delivering personalized content, and driving conversions, serving as a powerful tool for customer engagement and retention.

Funnels: Funnels are critical for guiding potential customers through a structured journey, optimizing user experience, and strategically influencing decision-making at each stage, ultimately maximizing conversion rates and business success.

Commercials: Commercials are crucial for reaching a wide audience, building brand awareness, and conveying key messages succinctly, making them an effective medium for influencing consumer perceptions and driving engagement.

Video Marketing: Video marketing is crucial for capturing attention, conveying complex messages effectively, and fostering emotional connections with audiences, serving as a dynamic tool to enhance engagement and drive brand visibility.

Audio Marketing: Marketing in podcasting and social audio involves leveraging the power of audio content to connect with audiences, build brand identity, and promote products or services through strategic sponsorships, branded content, and engaging storytelling to create meaningful and authentic connections with listeners.

Social Media Marketing: Social media marketing is vital for building brand presence, fostering direct connections with audiences, and leveraging user-generated content, offering a dynamic platform to engage, influence, and build communities around a brand.

Influencer Marketing: Influencer marketing is crucial for leveraging the credibility and reach of influential figures to authentically promote products or services, effectively tapping into niche audiences and building trust through authentic, relatable endorsements.

Local Marketing: Local marketing is essential for businesses to connect with their immediate community, drive foot traffic, and establish a strong local presence, fostering loyalty and customer relationships within a specific geographic area.

Inbound Marketing: Inbound marketing is crucial for attracting, engaging, and delighting customers by providing valuable content and experiences, creating lasting relationships, and driving organic growth through customer satisfaction and advocacy.

Outbound Marketing: Outbound marketing is important for proactively reaching potential customers, increasing brand visibility, and generating leads through traditional advertising, direct mail, and other outbound tactics that create broad awareness and drive immediate response.

Offline – Traditional Marketing: Offline traditional marketing and advertising remain crucial for reaching diverse audiences, establishing brand visibility, and fostering trust through tangible mediums like print, television, outdoor advertising, direct mail, billboards, brochures, trade shows, sponsorships, flyers, newspapers, radio, transit advertising, magazines, and so much more. The possibilities are endless.

Customer Service: Customer service is paramount for business success as it directly influences customer satisfaction, loyalty, and advocacy, playing a pivotal role in shaping the overall reputation and longevity of a brand.

Live Events: Live events are crucial for creating immersive brand experiences, and building direct connections with audiences, and marketing plays a pivotal role in organizing, promoting, and executing them to maximize attendance, engagement, and overall impact.

Business Models: Marketing plays a pivotal role in defining and improving business models by identifying market opportunities, understanding customer needs, and adapting strategies to create value, ensuring alignment with market demands and sustained business success.

Validates Business Ideas: Marketing is instrumental in validating business ideas by conducting market research, gauging consumer interest, and obtaining feedback, ensuring that products or services align with market needs before full-scale implementation.

Monitoring and Analytics: Marketing plays a crucial role in monitoring and analytics by leveraging data and key performance indicators to assess the effectiveness of campaigns, optimize strategies, and make informed decisions that contribute to continuous improvement and business success.

Brand Culture and Philosophy: Marketing shapes and reinforces a brand’s culture by communicating its values, fostering a consistent brand identity, and creating narratives that resonate with customers, employees, and stakeholders, ultimately influencing the overall perception and reputation of the brand.

Business Goals: Marketing aligns with and supports business goals by strategically planning and executing campaigns that drive customer acquisition, revenue growth, and overall success, serving as a key driver for achieving the organization’s broader objectives.

Unifies Organisational Departments: Marketing plays a unifying role within an organization by aligning messaging, values, and goals across various departments, fostering a cohesive brand identity that promotes collaboration and a shared commitment to achieving overall business success.

Strategies: Marketing is instrumental in developing solid, flexible, and winning strategies by analyzing market trends, customer insights, and competitive landscapes, enabling businesses to adapt, innovate, and strategically position themselves for success in dynamic and ever-changing environments.

Ideal Zones for Market Penetration: Marketing plays a critical role in specifying ideal zones for market penetration by analyzing demographics, consumer behaviour, and competition, guiding businesses to strategically target and enter markets where they can maximize impact and capture the desired audience.

The Orange Juice Invention Story

One day, a marketer called Albert Lasker was informed that orange growers were chopping down trees due to over-production.

People weren’t eating enough oranges and Sunkist Oranges, a company, was suffering heavy losses because of it.

They asked for Lasker’s help.

Lasker after researching discovered that one glass of orange juice required 2–3 oranges, and his firm designed and manufactured an orange juice extractor.

His goal was to make drinking orange juice a habit.

Eventually, they managed to sell the orange extractors to the public for 10 cents bundled with 2-3 oranges.

The ad slogan… Drink an orange.

Since then, people enjoy drinking orange juice, me included.

Marketing Alchemy: Transforming Innovations into Cultural Staples

Marketing often contributes to the successful promotion and adoption of newly introduced and unpopular products by shaping consumer perceptions, creating demand, and driving the success of innovations.

Diamond Engagement Rings: The concept of a diamond engagement ring as a symbol of love and commitment was largely popularized by a marketing campaign by De Beers in the mid-20th century.

Breakfast Cereal: Cereal companies like Kellogg’s and Post heavily marketed the idea of breakfast cereals as a quick, convenient, and healthy morning option, contributing to their widespread adoption as a breakfast staple.

Apple’s iPhone: Apple’s marketing strategy for the iPhone revolutionized the smartphone industry. Through sleek advertising, emphasizing design and functionality, Apple created a strong brand image, making the iPhone a cultural icon and driving widespread adoption.

Amazon’s Kindle: Amazon effectively marketed the Kindle eReader as a convenient and portable way to carry an extensive library of books. Their campaign focused on the joy of reading and the ease of accessing a variety of books digitally.

Tesla Electric Cars: Tesla’s success can be attributed in part to its innovative marketing strategy. By focusing on the performance and environmental benefits of electric cars, Tesla created a demand for electric vehicles and positioned itself as a leader in the industry.

Red Bull Energy Drink: Red Bull’s marketing strategy is often cited as a textbook example of creating a market for a new product. Through extreme sports sponsorships, unique branding, and the “Red Bull gives you wings” slogan, the energy drink became synonymous with energy and excitement.

Dove’s Real Beauty Campaign: Dove’s campaign challenged traditional beauty standards, celebrating diversity and real beauty. This approach resonated with consumers, leading to increased sales and positive brand perception.

Airbnb: Airbnb disrupted the travel and hospitality industry with a unique marketing strategy. By focusing on the idea of “belonging anywhere” and offering personalized travel experiences, Airbnb differentiated itself and gained widespread acceptance.

Fitbit and Wearable Fitness Tech: The marketing of fitness trackers like Fitbit played a pivotal role in popularizing wearable technology for health and fitness monitoring. The emphasis on tracking personal health metrics resonated with consumers.

Plant-Based Meat Alternatives: Companies like Beyond Meat and Impossible Foods utilized marketing to position plant-based meat alternatives as not just for vegetarians but as delicious and sustainable options for a broader audience concerned about health and the environment.

These examples showcase how effective marketing strategies can influence consumer perceptions, create demand, and contribute to the success of newly introduced products and services.

Interdisciplinary Foundations of Marketing

Marketing, as a multifaceted discipline, draws extensively from various sciences to comprehensively understand and influence consumer behaviour.

1. Sociology: By examining social structures, groups, and trends, marketers gain insights into how individuals interact, form opinions, and make purchasing decisions within the broader societal context.

2. Psychology: Understanding cognitive processes, emotions, and motivations is central to crafting effective marketing messages, creating brand appeal, and designing campaigns that resonate with the target audience on a psychological level.

3. Cultural Anthropology: Cultural nuances significantly impact consumer preferences and behaviours. Marketing utilizes anthropological insights to tailor strategies that align with diverse cultural contexts, ensuring relevance and resonance.

4. Economics: Fundamental economic principles, such as supply and demand, pricing strategies, and market dynamics, guide marketers in optimizing resource allocation, pricing products, and responding to market fluctuations.

5. Neuroscience: Leveraging insights from neuroscience helps marketers understand how the brain processes information, reacts to stimuli, and makes decisions, enabling the creation of compelling and memorable brand experiences.

6. Communication Studies: Drawing from communication theories and models, marketers develop strategies to convey messages effectively, considering factors like language, symbols, and mediums that resonate with the target audience.

7. Technology and Data Sciences: With the advent of digital marketing, technology and data sciences play a pivotal role. Analytics, artificial intelligence, and big data help marketers analyze consumer behaviour, personalize campaigns, and optimize marketing strategies for better outcomes.

8. Environmental Science: Increasingly, sustainable and environmentally conscious practices are integral to marketing strategies, reflecting societal concerns and aligning with the values of environmentally conscious consumers.

9. Political Science: Marketing strategies often intersect with political and regulatory landscapes, influencing decisions on market entry, product positioning, and public relations to navigate political and legal considerations.

10. Demography: Understanding population demographics assists marketers in segmenting markets, tailoring products, and designing campaigns that appeal to specific age groups, genders, and cultural backgrounds.

This interdisciplinary approach, encompassing sociology, psychology, cultural anthropology, economics, neuroscience, communication studies, technology, environmental science, political science, and demography, forms the foundation of a holistic and effective marketing strategy, acknowledging the complex interplay of factors that shape consumer behaviour in a dynamic and evolving landscape.

We Teach

Marketing & Business

Live on Zoom

Your host: Tasos Perte Tzortzis

Schedule an interview so we can evaluate where you are right now, your needs and goals, and we'll give you a detailed analysis of how the workshops work

*30-Day Free Trial

Final Words

In conclusion, marketing is a multifaceted and indispensable force that transcends traditional boundaries, serving as the strategic heartbeat of business success by driving customer engagement, fostering brand loyalty, guiding strategic decisions, and adapting to dynamic market landscapes, ultimately shaping the trajectory of organizations towards growth, impact, and sustained relevance.

For business owners who may be skeptical about the importance of marketing, my advice would be to recognize that marketing is not just an expense but an investment in the long-term success and sustainability of their business.

Embrace the power of marketing to understand your customers, differentiate your brand, and navigate the competitive landscape.

Start with small, targeted campaigns to see measurable results, and continually assess and adapt your strategies based on data and customer feedback.

In a world where visibility and consumer engagement are critical, embracing effective marketing practices can be a key factor in achieving business objectives and staying ahead in the market.

I hope you enjoyed this quick tour of the beautiful world of marketing.

Don’t be afraid of it, don’t shy away, make it an ally, and chances are, you’ll have a thriving business, soon!

Do you need help with your marketing campaigns?

Schedule a free video-call interview to help us understand where you are at your business right now, your needs and goals, and we will give you a detailed analysis of how we work. Then, we’ll create the first campaign for you for free to prove we can get you results.

That’s it, another article has finished, here on Web Market Support. I am waiting for your comments and thoughts. Till next time.

Tasos Perte Tzortzis

Tasos Perte Tzortzis

Business Organisation & Administration, Marketing Consultant, Creator of the "7 Ideals" Methodology

Although doing traditional business offline since 1992, I fell in love with online marketing in late 2014 and have helped hundreds of brands sell more of their products and services. Founder of WebMarketSupport, Muvimag, Summer Dream.

Reading, arts, science, chess, coffee, tea, swimming, Audi, and family comes first.

MARKETING | ADVERTISING | SALES

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

LATEST NEWS
business/marketing/sales/tech
  • WealthyAffiliate: UPDATE: Old Training Has Been Sunset.and Our NEW Approach to Training!
  • SearchEngineLand: Report: OpenAI working on web search product
  • Reuters: EU opens formal investigation into TikTok over possible online content breaches
  • FirstPost: 'Ghosts' in Google Gemini, OpenAI GPT-4: Experts believe AI Models more sentient than the studios let on
  • TheIndianExpress: How to replace Google Assistant with new Gemini AI on Android smartphones
  • WealthyAffiliate: First Steps With My New Business
  • I stopped using Zoom. They can legally use your recordings for anything they want... Even to make money off of them. Excerpt from their terms page: You grant Zoom a perpetual, worldwide, non-exclusive, royalty-free, sublicensable, and transferable license and all other rights required or necessary for the Permitted Uses.]
  • I have updated the Affiliate Marketing Statistics catalog with new entries (top-rated networks by mThink).
  • HubSpot: The Future of Web & SEO and How Web Analysts Should Prepare
  • Futurism - TheByte: AS AI DESTROYS SEARCH RESULTS, GOOGLE FIRES WORKERS IN CHARGE OF IMPROVING IT
  • Tom'sGuide: ChatGPT finally has competition — Google Bard with Gemini just matched it with a huge upgrade
  • Forbes: New Google Release Exposes AI Upgrade For Messages Users
  • SearchEngineJournal: Why Google May Rank AI-Generated Content Over Original News
  • WealthyAffiliate: Las Vegas 2024. Big Ideas, Big Changes!
  • TheVerge: Meta will let EU users unlink their Instagram, Facebook, and Messenger info ahead of DMA
  • SearchEngineLand: LinkedIn launches sponsored articles
  • SalesScripter: Whatever You Do, Do Not Ask This Sales Question
  • Emerge: The Most Powerful Generative AI Text Tools of 2023
  • Wired: Generative AI Learned Nothing From Web 2.0
  • ZDNET: How LangChain turns GenAI into a genuinely useful assistant
  • ISP: Google Launches Bard Advanced: The Future of Conversational AI
  • AIOSEO: What is Cornerstone Content? Plus Tips and Examples
  • SearchEngineJournal: Beyond SEO: John Mueller On AI-Generated Images & Stock Photography
  • TimesOfIndia: Microsoft corrects the mistake it made while investing billions in ChatGPT maker.
  • TechRadar: Researchers build AI that can replicate and alter itself and I'm pretty sure that's an opening line from the original Terminator script
  • CNNBusiness: Google users will share $630 million in a Play store settlement
  • BusinessInsider: I asked ChatGPT and Google's Gemini to answer 10 questions. Gemini has an edge on current events — but makes mistakes.
  • SearchEngineLand: Google’s shifting approach to AI content: An in-depth look
  • BusinessInsider: AI is the great equalizer. Studies show that the rise of tools like ChatGPT is good news for employees who suck at their jobs
  • TheMitPressReader: Will AI Render Programming Obsolete?
  • Forbes: About That Mysterious AI Breakthrough Known As Q* By OpenAI That Allegedly Attains True AI Or Is On The Path Toward Artificial General Intelligence (AGI)
  • AmericanMediaGroup: US Military and SHARP Unveil 120 Million Quantum Phones and Quantum Voting System – The End of the Spy Phone Era (video)
  • WealthyAffiliate: 46% of Big Publishers Are Using AI Writing
  • ContentMarketingInstitute: Clueless Execs? Solve the Content Marketing Mystery for Them
  • Facebook is going down: Subscribe to use your Facebook account without ads, starting at €9.99/month (inclusive of applicable taxes). Your info won’t be used for ads. [They beg for money! What I predicted in September 2022 may become a reality]surprised
  • AIOSEO: Discover Trending Websites. Learn how websites with exploding traffic use SEO to rank quickly. Join our email list to be updated as soon as a new case study comes out.
  • WealthyAffiliate: How to Start a Profitable Food blog
  • NameCheap: Seeing dollar signs: Sam Altman’s Worldcoin
economy/politics

The Quantum Financial System (QFS) Infographic:

Quantum Financial System (QFS) infographic 333

  • CNBC: Amazon terminates iRobot deal, Roomba maker to lay off 31% of staff
  • CNNBusiness: UPS is cutting 12,000 jobs
  • YourMoney: Bleak January as Barclays flags 40 bank branches for closure. [I like it when banks are closing, don't you?]
  • Axios: Scoop: Wall Street Journal plans layoffs, restructuring in D.C.
  • CNBC: Evergrande shares halted after Hong Kong court orders liquidation. [This brings down BTC, Eth, USD].
  • [Taxation is a process of crime and fraud against the people, and in a privileged society, it should be greatly limited. It started in Canada. Enter the new financial system.]
  • [A group of House Republicans, led by Scott Perry have introduced the Defund Davos Act, seeking to halt federal funding to the World Economic Forum (WEF).]. About time...
  • TheQuantumInsider: India Announces $740 Million (US) National Quantum Mission, Plans Tech Hubs
  • Investing: Breaking: US Banks Adopt Ripple’s XRP for International Payments
  • TheStreet: Forget Spirit, another major airline eyes Chapter 11 bankruptcy
  • Adaderana: Sri Lankan President backs debt relief for Africa
  • WatcherGuru: India to Ban 9 Crypto Exchange URLs Including Binance & Kraken
  • AmericanMediaGroup: New List of Banks That are Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan!
  • BusinessInsider: The Chinese yuan's share of global payments climbs to a record high while US dollar's share dips
  • TrulyNet: Major Swiss Bank Admits to Tax Evasion Scheme, Agrees to Substantial Penalty
  • NewAmerican: Small Businesses Are the Backbone of the American Economy
  • LiveMint: Gold Standard hinted by the US Debt Clock
  • Gold Standard hinted by the US Debt Clock
  • Reuters: China's state banks seen supporting yuan as Moody's cuts outlook - sources
  • GoldTelegraph: BIS is warning that central clearinghouses that hold over $1 Trillion in liquid assets may exacerbate periods of financial stress
  • TheSun: Huge pharmacy chain and Boots rival sells all 1,054 branches after string of closures – is your local affected?
  • ZeroHedge: 64 US Bank Branches File To Shut Down In A Single Week
  • [Bank branches are dropping like flies: Wells Fargo, Bank of America, PNC, NatWest, RBS, Lloyds Banking Group, Barclays... The FIAT dollar and the fake economy have collapsed - Time for a replacement after the HAPPENINGS - dark mode]
  • TASS: Pakistan applies for BRICS membership in 2024 — ambassador to Russia
  • NewsTarget: 1.8M fraudulent transactions led banks to close accounts of innocent customers without warning or explanation
  • TheGoldObserver: Dutch Central Bank Admits It Has Prepared for a New Gold Standard
  • Reuters: China, Saudi Arabia sign currency swap agreement
  • USDebtClock: Transition from the Federal Reserve System to the US Treasury 1776 has begun [no more FIAT slavery]
multimedia/web development 
  • It'sFossNews: An Open Source Web-Based AI-Powered Vector Graphics Editor: Wait, What?
  • InVideo: How To Make YouTube Shorts: Create YT Shorts Using AI
  • Vecteezy: Graphic Design Trends
  • Videvo: What You Need to Know About Aspect Ratios
  • ThemeForest: Merchandiser - WooCommerce Theme for Wordpress Block Editor. FREE when you signup with a free account.
  • Videvo: Think Like a Director: How to Use the Medium Shot
  • Placeit: Font Pairing Made Easy. A Guide for Non Designers.
  • VidToon: #1 Top Video Animation Software To Make Explainer, Marketing, Animated Videos Online. HD Background Images and Music Files-Automated Voice Overs-Smart Timeline-Social Media-Animate Text-FHD Export-Camera Zoon In/Out-GIFs & Icons-Transitions, and more.
  • Dev: 10 Exceptional Developer Tools Launched in 2023
  • MotionElements: FREE background music for video. MotionElements is the best online stock music site to download free background music. Choose from free stock music to free sound effects to free stock video.
  • Deeezy: 14 FREE Bakery Store Illustrations
  • ThemeForest: Up to 50% OFF selected items. 27 website templates from $7 sorted by best sellers. Beautiful website templates from our creative community, reviewed one by one by our staff.
  • DesignModo: 19 Top Tools & Resources for Web Designers in 2023
  • CraftWork: FLASH SALE. Save up to 45% on illustrations, UI kits, Framer and Figma templates, and Pro Access subscription plans. Use discounts before 22 September.
  • PlaceIt App: Boost Your Business From Everywhere. Easy access to our entire library of designs, mockups, logos & videos. Download your designs directly on your device and share in seconds to your social media.
science/world
  • VentureBeat: Microsoft unveils ‘LeMa’: A revolutionary AI learning method mirroring human problem solving
  • ThePeople'sVoice: Elon Musk: Ventilators Euthanized MILLIONS Globally, Not COVID
  • Phys: Scientists manipulate quantum fluids of light, bringing us closer to next-generation unconventional computing
  • Decrypt: Global Powers Sign International Declaration on AI Safety
  • TheConversation: We built a ‘brain’ from tiny silver wires. It learns in real time, more efficiently than computer-based AI
  • NDTV: Time Travel Possible? What Scientists Found Out With Latest Experiment
  • NeuroScienceNews: Is AI Mimicking Consciousness or Truly Becoming Aware?
  • LosAngelesTimes: Stanford scientist, after decades of study, concludes: We don’t have free will
BRAND NEW CATALOGS:
  • Online Education Resources - Books, programs, courses, training, and so much more. I'll be adding many brands in the upcoming days and weeks. Check it out!
  • BizHub: The Ultimate Resource Catalog for Ambitious Businesses.The ultimate business collection by categories: organisation-administration, marketing, production-supply chain, financial management-economics, human resources management, IT &web development, legal & regulatory compliance, social image & responsibility, design & multimedia, business development, education, innovation. An upgraded version of the 200+ tools collection.

........................

DAILY BREAKING NEWS: Marketing, Business, Economy, Multimedia + The "7 IDEALS" Methodology FINISH LINE 85% 🙂

Some of the links on this page are “sponsored”. For more information, I refer you to the Disclaimer page.

TODAY'S SPONSORS

ERC Guaranteed: #1 Rated Tax Firm Since 2017. Get up to $26,000 per Employee.

AIOSEO: What is Google E-E-A-T? Understanding Google’s Secret Sauce for Creating Effective Content

Riverside: All-In-One Podcast and Video Platform.

DreamHost: Web hosting with purpose for businesses of all sizes. 

RovenThemes: Free WordPress Themes & HTML Website Templates.

ConvertPods: A new era of marketing automation. An online platform that allows entrepreneurs to upload their audio and video content to create virtual experiences (called “PodSpaces”), that capture their audience’s attention and convert them into action-takers.

Fotor: Online photo editor and design maker for everyone. 

Coolors: A super fast colour palette generator. Used by 5M+ designers and top companies.

#5 CONTRIBUTOR

“Here, we honour and reward the most valuable contributors to the blog.” #5 position Gregory V. Chapman who is passionate about researching new technologies in mobile, web, and WordPress. Also, he works on writing service review websites Online Writers Rating. Gregory is in love with stories and facts, so he always tries to get the best of both worlds.

TOP Quote

Slavery was legal. Segregation was legal. War is legal. Never use legality as a guide to morality.

wealthy-affiliate
wealthy-affiliate
7ideals methodology - Market Parallax info-book page 01
marketing publishing mastery private training workshops featured banner
wealthy-affiliate
Divi WordPress Theme

Newsletter

Marketing, Business, Economy, Multimedia

Get access to marketing and business training, sales secrets and personal stories from the entrepreneurial world, downloads, exclusive discounts and bonuses, and the newsletter to scale your business

The “7 IDEALS” Methodology EARLY ACCESS

be part of the upcoming movement

Read More

Latest Posts

7ideals methodology - the market parallax model ver.5

Decrypting ConsumerBehaviour

 

Enter the groundbreaking "Market Parallax" Model.

We explore consumer behaviour by employing a diverse array of techniques, including research methodologies, data collection and analysis, market segmentation, targeted approaches, product positioning, and trial testing. 

Through these marketing lenses, we unravel the intricate field of consumer behaviour and explore avenues for influencing it judiciously.

Download the 31-page INFOGRAPHIC-BOOK to understand how consumers act on a deeper level and get closer to influencing their decisions with your marketing initiatives.

 

You have Successfully Subscribed!

Pin It on Pinterest

Share This