BUSINESS MODEL INNOVATION
The definition of marketing is: the action or business of promoting and selling products or services.
- Establish your company’s reputation (Branding)
- Link positive emotional associations to your product or service (Branding)
- Generate sales & leads (Direct Response)
- Educate prospects (Content Marketing)
- Create interest in your product or service (All the above)
Marketing is all of your communications with people to put your company in a better position to do more business. According to the late, great Peter Drucker, a business is only two things- marketing and innovation. Innovation is the reason you exist through your products and services while marketing is how you get people to buy them. If you have no marketing, then it doesn’t make a difference how great your products or services are because no one will ever know.
Many companies have no proactive marketing campaigns in place where they just hope that customers will either just find them or that their products and services are so good that customers will spread the word. Unfortunately, that is reactive and the lowest level of marketing where you’re leaving your company’s future in the hands of others. To reach true success in today’s highly competitive world, you have to actively participate in many different types of marketing campaigns and do so strategically.