What is Marketing?
This is a short note to clarification the general misconception that most business owners have on marketing, that it is about advertising and promotion. Well, marketing isn't advertising and promotion alone. Marketing, in a nutshell, is:
- discovering what the market needs and wants (product idea),
- creating it (design and manufacture),
- pricing it correctly,
- reinforcing it in consumers' minds with the right association (promotion), and
- collecting data for the next product iteration (feedback).
You are almost never going to find people skilled in all these processes. Even if you do, the marketing process is so huge that you would need more than one professional in the team handling specific affairs. For this, most often, you're going to find people skilled in one or more processes.