My Favorite Marketing Related Quotes

Marketing is the function that connects businesses to their target audiences’ needs. It is how a business presents and distributes their product to their audience. For example, a business can market their product by advertising it to the public. This can be seen in many forms of media; such as: on television, via web, posters or on billboards.

The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have

Jarek Wasielewski, education expert at ClickMeeting, agrees,“Tailoring content to specific market segments is all about personalized marketing. In today’s world where competition over a more informed consumer base has become tighter than ever, personalized marketing is often what defines greater lead generation and customer conversion.”

Specialized products, being marketed to a specific sector, also have a unique opportunity to market directly to a target audience. Being aware of the differences in marketing to mass audiences and the targeting of specific groups, is a valuable arrow in the quiver of a marketer. Comparing the differences in the older generations gives the marketer an insight into how to mass market, while targeting the groups as a whole. There is also an interesting opportunity for the marketer to target a very specific group for specialized products. While the job of the marketer remains the same, the methodology must be different to reach the intended audiences.

A company called YuMe Inc. has recently surveyed over 5,000 consumers to “understand how cultural, environmental and life events influence purchase behavior, media viewing habits, device preferences and the impact on consumer marketing.” In that research they were able to segment millennials which made then realize that “by segmenting into different consumer models, companies can focus on the individuals who actually show interest in their product”. This is great for companies in choosing which approach to take when trying to reach these millennials. The results in sales become greater because the reach to a certain segment becomes more accurate. According to Mike Randazzo’s article “What Influences and drives millennial purchasing behaviors” Randazzo found that “while there are common characteristics that define the entire generation, there are more depth and nuance to the audience that advertisers should be aware of in order to influence this segment and drive high engagement.” This shows that if advertisers begin to lump a generation, in particular the millennial generation, into one segment the results will be

There is no doubt that having a better understanding of different consumer demographics will impact marketing and has an effect on marketing communications. How messages are communicated most effectively can change depending on who the target audience is. A message that is targeting young consumers, like an advertisement for the Twilight movie would be different than one targeting men. The same can be said for having a better understanding of the psychographics of the consumers. Knowing the different interests and lifestyle of the target population can help tailor the message to be most effective. People who are interested in

The market can be segmented into three consumer groups: 16 to 30 year olds and 31 to 50 year olds who

The market is composed of consumer’s unique needs and preference. Marketers target to those consumer whose needs are most effectively met by their own offering. Marketers identify consumers who are similar with regard to key traits, such as product-related needs and wants, and who would respond well to a similar marketing mix (Lascu & Clow, 2010).

Marketing to people in the world is done in different ways depending on the demographics. “Demographics underlies almost every marketing program, and is often a source of potent insights and opportunities for marketers (Hiam, 1992).” In society today, the different age groups and social classes of our population are part of the demographics that are considered. The groups are these: the youth market, teens, underclass, baby boomers, elderly and marital status (Hiam,

Marketers definitely learn from teens and their interest so it is not surprise that it is in fact the teenagers who technically come up with what is the trend or the brands to like. With this information, marketers are able to advertise accurately and grasp teenager’s attention more precisely. The correlation between the three of these components will only evolve during this era of heavy technology usage adding billions of value to companies and helping young people get into the marketing business as well. Although the consumer and marketer may not be completely proportional in terms of salary, both parties benefit in this

If marketing companies excel at one thing, it is knowing their audience and how to connect with them in the most effective

When one thinks of marketing, they tend to think it as simply selling stuff to people, but marketing as a profession is so much more intricate. The most provoking thing about marketing is the underlying psychological tactics companies use to entice people to buy their product or service, as useless as it may be. Yes, it sounds somewhat maniacal, but rest assured, there are no crazy hypnotic schemes, just simply observing human behavior. The main psychological concepts relevant in marketing are the availability heuristic, the paradox of choice, conformity, group behavior, and reciprocity. Any good marketer will take advantage of these psychological concepts to get their product or service sold.

Most companies today have changed their marketing techniques. Instead of focusing on all potential buyers out in the market, which is called “mass marketing,” they began to implement the use of “target marketing,” which is where companies focus on specific group of consumers that have the highest potential for the company to make a profit. In target marketing, there are four steps that the company must undertake, to design a consumer driven marketing technique. The first two steps involve the company the selecting potential consumers to target on. The first step is called “market segmentation,” and the second step is called “market targeting.” The last two steps involve the company deciding on how to create specific products for their

Furthermore, we are defining the target market not only by customers’ age, but also by, demographic, social, psychological and economic factors to