Marketing explained in 5 key concepts

June 27, 2023 | Elke Steinwender
2 min
Maïeutyk - marketing expliqué en 5 éléments clés

Defining marketing can be a difficult task.

Dictionary.com defines marketing as:

« the action or business of promoting and selling products or services, including market research and advertising. »

This definition of marketing seems too…narrow.

While it can be defined as the process of introducing products and services to the market and promoting them, there is more to it. It goes beyond advertising, sales, graphic design, website creation and so on.

The reality is that marketing is not a department that works in silos, but an approach or philosophy that touches every aspect of a business. In our opinion, marketing enables companies to grow with their customers.

Therefore, by using this definition, marketing becomes an integral part of every aspect of a business.

When developing marketing strategies for businesses, we ensure that 5 essential components are included. This allows a company to build the agility required to stand out in a crowded market and to grow with its customers.

Let’s take a look at them.

The 5 key marketing components

 

1- Understanding your customer:

This starts with research, data, and surveys and the integration of this data to create your client profile and persona.

2- Brand DNA:

Aligning your WHY, your values, your brand personality and your service offer with your capacity to effectively express these elements to your target market. A strong brand DNA helps you to create a strong business culture which helps you to better serve your clients while simultaneously attracting and retaining talent.

3- Mapping the customer journey:

Remember the expression: walk a mile in someone else’s shoes? Mapping the entire customer journey or customer buying process will definitely help you to better understand and serve your customers. It’s also the best way to see where you are NOT serving your customers effectively and draft a concrete action plan to remedy the situation.

4- Your team:

There is an old saying, “No customers, no business.” While this is true, it also extends to your team. If you don’t have a strong team, you can’t serve your customers and therefore, there is no business. Your team works to actualize the company’s mission. Each team member sees your client in a different way and these variants nourish your company and your capacity to differentiate yourself in your industry. To make this happen, one piece of the puzzle is to give your team an opportunity to voice their knowledge (read more about our cocreation workshop approach here) and space to grow (training) in order to better serve your customers.

5- Visibility:

Being the best-kept secret in town is not always a good thing! You need to be visible to your clients when they are looking to fill a need. This implies a strong marketing and business development strategy along with a capacity to build a robust lead generation and sales pipeline.

In conclusion, Marketing touches every aspect of a business and goes beyond advertising and communications. The magic happens when your brand experience (BX), your customer experience (CX), and your employee experience (EX) are aligned.

Are you curious about assessing the alignment of these aspects within your business?

Take our short diagnostic test here: https://maieutyk.com/en/diagnostic/

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