A lot of people use the term marketing as interchangeable with advertising. They are not the same thing.
Marketing is creating a NEED and want for your product or service, on an on-going basis, and increasing the sale of existing products. I am sure there are other definitions that people use, but something from the past has always given me a clear view of it.
Some great examples of marketing from the past: (these may be true or may be one of many “urban legends” in the ad agency world, but did put things in a unique perspective):
- Ad agencies were asked to present plan to market a personal care item that everyone already knew how to use – ONE tiny word made all the difference – “REPEAT” Shampoo directions were changed to say Lather, Rinse, Repeat. People now needed to buy it more often, thus creating more repeat sales and increasing revenues from an existing product. All the other brands shortly followed adding Repeat to their directions,
- Re Branding or Re-naming – the case of the Spider Crabs – although the taste was delicious, they were not selling very well when called Spider Crabs (along with a few species) and had to be sold at a low profit margin. A creative person came up with the idea to call them King Crabs (re-branded product) changing Spider to KING – and King Crabs became the high end product it is now. Sales increased quickly.
- Buzz and celebrity endorsements – getting stories out to the public about your product being used by Celebrities – or Influencers – as we now have! Products were shown on TV shows as being used by the stars, not just in ads. Companies gave stars samples of their products – when the public saw them, they wanted them too. We now have podcasts, blogs, influencers on social media to help with this. There are local influencers too. Businesses should take advantage of these.
- Impulse buy and Product placement – WHERE and HOW you display a product or position your service, can make all the difference. Seeing suntan lotion in bathing suit or outdoor sections, as well as the health and beauty area, create additional sales. This is why end-caps and cashier lines have products on display, and stores charge companies for visibility and product placement. You have time to look at them, and think I could use that! Just putting a product out there is not always enough. In the huge pool of competition, you need to get your business, service or product noticed, and have it stand out among competitors.Future blogs will talk about Advertising (letting potential customers know what you offer, what it cost, where it is, etc). Promoting and cross-promoting. Creating new revenue streams. Turning slow times into income producing times. Product placement, perception and more. Low or no-cost options. Sales techniques. Plus some funny business and sales stories too.
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