Internet marketing, promotional marketing, public relations, etc. What does it all mean?
Marketing can be defined as ‘the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large,’ according to the AMA (American Marketing Association).
So you still may wonder what exactly marketing is.Unfortunately, that’s like asking what exactly the atmosphere is. It’s usually a combination of a lot of things, and can change depending on the circumstances. Generally, marketing refers to putting a service or product in front of a potential buyer, at the highest ROI (return on investment), customer acquisitions, and customer retention. In layman’s terms, marketing identifies customers, gains customers, and helps to keep customers.
So, what’s the difference between marketing and sales? A sale cannot take place without marketing efforts. But…selling, in and of itself, is simply pushing the sale of one particular product, not taking the consumers desires, needs, or wants into the equation.
Wait…isn’t that just promotion? Well, not really. Promotion may or may not involve the actual selling of a product. It just puts it in front of people as much as possible, and from a lot of different channels.
To wrap it all up: Marketing is determining your target market, finding the potential customers, qualifying them, acquiring them, and keeping them.
The sales process is simply a small part of marketing.
Customer service is a small part of marketing.
Lead generation is a small part of marketing.
Marketing usually refers to the overall process.