Good Morning All!
This week’s word – Marketing!
Marketing as defined by the AMA 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.”
I think many people think that marketing and advertising are the same thing. There is, in fact, a very distinct difference between the two. Advertising is the selling of your product and it is just one section in your overall Marketing Plan.
This is a perfect diagram to show all the facets of a Marketing Plan as found at http://www.learnmarketing.net..
This is simply a visual of the definition from above:
creating = product
communicating = promotion
delivering = place
exchanging offerings = price
It is always good to remember the different ways to market your product or service. And every product or service needs some sort of marketing plan.
Today’s Questions: What does your Marketing Plan look like? Does it include all the different aspects?