Defining Marketing

Marketing is a very broad term, for it encompasses so much from sales to writing proposals to coming up with new ideas to selling things at the right price. In my 30 years of being in this profession, I’ve found that the best way to simplify marketing is to break it down into small components. For example, one very critical factor of marketing is knowing how to reach your targeted market. And to reach your targeted market effectively, you have to do your homework and find out what appeals to them the most.

There is a lot of market research available, and the first step is to narrow down the demographics of who you want to market to as tightly as possible. Let’s consider marketing a product where the majority of your sales of this product is to women. Some factors you would want to observe about your customers are the average age of the women, socio-economic status, and education level. Now remember that this isn’t an exact science, but if you observe your customers closely, you can usually make an educated observation about these factors.

Then the next step is to consider advertising venues that a woman with this type of profile would be interested in such as radio stations she may listen to, TV stations she watches, or magazines she reads. A lot of statistics are available that analyze the habits of different sets of demographics.  Arbitron research is a great resource to study what age groups listen to certain types of music on radio stations at specific times of the day. Nielsen research provides this same type of information in relation to TV viewership and helps narrow down what programs the market you are targeting are most likely to watch.

A marketing professional can help you figure all this out so you can streamline your marketing and get the biggest bang for your buck or as we marketing professionals say in our jargon….Your Maximum Return On Investment!  As you conserve your budget, don’t skimp on the research you need to do, for it definitely pays off in the long run to target your marketing as much as possible to attract potential customers!

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