Let’s be honest with each other here. How many us really like the business side of business? Crunching and computing numbers, studying tax laws and regulations, hiring employees, web and logo designing, contracts and terms of agreements, and our absolute favorite: MARKETING!
It’s not uncommon to come across small business owners who starter their companies not knowing too much about marketing and yet, they find themselves marketing themselves and their services or products on a regular basis. Why? Well, if no one knows who you are and what you can provide, how are you in business (technically, speaking)? And maybe, we were one of those budding business owners who knew next to nothing about marketing, but find ourselves learning everything we can about it to better position our business. But, how well do we really know marketing and marketing terms to better market our businesses?
- Advertisement – Refers to a specific message that someone or some organization has placed to persuade an audience.
- Mass-Mediated – Designed to reach more than one person.
- Target Audience – A particular group of consumers singled out by an organization for an advertising or promotion campaign.
- Brand – A name, term, sign symbol or any other feature that identifies one seller’s good or service distinct from those of other seller’s.
- Positioning – The process of designing a brand so that it can occupy a distinct and valued place in the target consumer’s mind relative to other brands and then this distinctiveness is communicated through advertising.
- Social Meaning – To what a product means in a social context
- Integrated Marketing Communication – The concept of mixing various promotional tools.
- Industry Analysis – Focuses on development and trends within an entire industry on any other factors that make a difference in how an advertiser proceeds with an advertising plan.
Now that we’ve shed a little more light onto what marketing is, are we truly digesting the knowledge to the best of our advantage? What is the social meaning behind our product? Does it relate to our brand, the image we’ve created for our business? How do we get our target audiences to respond to our companies and become brand ambassadors?