What is the best definition of marketing?

In a recent podcast interview, I was asked to answer a simple question – what is marketing?

What I said:

“Marketing is about keeping a promise to a specific and narrow target audience.”

If you want to listen, click here to watch the full and hear the full interview with my friends from The Food Connector, a foodservice marketing agency.

Companies create brands built on promises; their marketing is how they create value.

At the core of all of this is the word – PROMISE.

When a brand is inconsistent, its promise is weakened. If a brand tries to market itself as something it isn’t, it loses trust.

How Others Define Marketing

Scott Galloway, a marketing professor at NYU Stern School of Business, defines marketing as

“the act of creating value for an organization by delivering a unique message to a target audience and building a relationship with them.”

He believes marketing is not just about advertising but about creating a relationship with customers and delivering value to them. Galloway’s focus on the importance of customer relationships in marketing sets him apart from many other marketing experts.

Here are nine more sage definitions of marketing

• “Marketing is the art of creating genuine customer value.” – Philip Kotler, Marketing Guru

• “Marketing is not the art of finding customers, but the science of creating value for them.” – Simon Sinek, Author, and Speaker.

• “Marketing is telling a story people want to hear.” – Seth Godin, Marketing Author and Blogger.

• “Marketing is the process of interesting potential customers and clients in your products or services.” – Tom Peters, Management Guru.

• “Marketing is not just about selling what you make, but about making what people want.” – Steve Jobs, Co-founder of Apple.

• “Marketing is about values. It’s a complicated and noisy world, and we’re not going to get a chance to get people to remember much about us. No company is.” – Howard Gossage, Advertiser.

• “Marketing is getting the right goods or services to the right people at the right place and at the right time at a profit.” – E. Jerome McCarthy, Marketing Professor

• “Marketing is the delivery of customer satisfaction at a profit.” – Peter Drucker, Management Consultant and Author.

• “Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably.” – Chartered Institute of Marketing.

Ten MYTHS about Marketing

To help unravel the mysteries of marketing, it helps to think about marketing myths and be clear about what marketing isn’t.

• Marketing is only about advertising: Marketing is much more than just advertising; it includes a wide range of activities such as market research, product development, and customer relationship management.

• Marketing is only for big businesses: Marketing is essential for companies of all sizes, from small startups to large corporations.

• Marketing is a one-time expense: Effective marketing is an ongoing process that requires continuous investment and attention.

• Marketing is about tricking people into buying: Good marketing is about creating genuine value for customers and building long-term relationships.

• Marketing is just about selling products: Marketing is also about building brand awareness, creating a positive image, and shaping public opinion.

• Marketing is easy: Marketing constantly evolves, requiring specialized skills and knowledge.

• Marketing is only for specific industries: Marketing is relevant to businesses in all industries and sectors, including manufacturing, service, and nonprofit organizations.

• Marketing is just for young people: Marketing is a field that attracts people of all ages and backgrounds.

• Marketing is just about creating cool ads: Marketing involves a wide range of activities, including market research, product development, and customer relationship management.

• Marketing has no impact on sales: Marketing is a critical component of the sales process and directly impacts the success of a business.

I believe marketing is about the promise you make to an audience. Promises matter. What promise does your brand make?

What’s your definition of marketing, and what can you add to this conversation?

You can set up a time to chat with me about your marketing challenges using my calendar. Email me jeffslater@themarketingsage.com Call me. 919 720 0995. The conversation is free, and we can explore if working together makes sense. Watch a short video about working with me.

Photo by Houcine Ncib on Unsplash