Why is marketing important?

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Why is marketing important? (TikTok video transcript)

Well, first of all, we need to understand what marketing is or is not. Marketing is not only advertising or communication, it's not only social media, it's not only any thing that is digital.

So, those are part of marketing, but marketing is more than advertising or communication, as Philip Kotler said, marketing is the new economics.

So, imagine you have to set a new company or a new product, what would you do first, maybe a business plan right.

So, what would you put in the business plan, a product or a service? How do you decide what the product will be? What kind of product or service are you going to sell? What differentiates that product from the competition? How do you design the packaging or the brand? How do you communicate the product? How do you set the price for your business plan and how do you deliver that product? All of this is marketing.

So, marketing is crucial for your company, a new company, a new product or yourself, as an entrepreneur or businessman or professional or consultant. So, what I just mentioned, they are the 4 P's of marketing: product, price, place promotion, these are the key starting points for marketing.

And also if you find a good mix, it's called the marketing mix, if you find a good mix of these 4 Ps, you set your product different from the competition and that is called the Marketing Distinguo. So, your marketing is to design your product, the price, the delivery and the promotion and communication as much as how to differentiate the product from the competition and then how to communicate it.

Once you have your Marketing Distinguo, so the answer to the question, why should they buy your product, then you have to advertising and to communicate it to try to sell it in the ways you as design.

So, you need to set a Unique Selling Proposition which is the creative result of the Marketing Distinguo, and that USP needs to deliver a value proposition to the customer. This is crucial for b2b company as much as b2c or b2m companies and even as consultant or professional.

So, Marketing Distinguo then USP and then value proposition which gets you eventually to the market and to a brand positioning. So, what does the market think about your product or your brand and the brand positioning then gives you feedback on your Marketing Distinguo because if you have done a good job, you have characteristics unique specific characteristics of your product or service which are the Marketing Distinguo and they are well positioned in the mind of your customer, which is brand positioning, everything I just said just gives you branding, brand reputation.

Of course you will do branding for your company also for the logo, the colors, the packaging, and whatever and everything is inside the marketing process.

So marketing is important is crucial, because it's the process and the strategy you need to set and implement. If you want to market anything, even yourself as a marketer.

Just remember what Robert Filek said: "Strategy without process is little more than a wishlist".