What is Marketing? Explain it to me like I'm five.
What is Marketing? It's planned advertising, promotion, and publicity. Explained in the simplest terms.
I usually read non-fiction books on the weekends and this weekend I picked up a copy of The 1-page Marketing Plan, by Allan Dib.
It had the simplest definition of marketing I have ever read, if struck me as simply beautiful. But I am going to attempt to simplify it even further.
You have a Lemonade stand.
The "Lemonade" sign is Advertising.
The free sample you give out is a Promotion.
If the local newspaper does an article on your stand that's Publicity
If you invite the mayor and he enjoys your lemonade, that's Public Relations
If you chose the right timing, location, and planned the whole thing, that's Marketing.
A great product is helpful, but its not marketing. It is a customer retention tool! It retains customers, but does not generate new ones. Sure, you will have some word-of-mouth but that is not marketing, it's a consequence of the value you are providing through your product. Your product does not need to be revolutionary. It can literally be a cup or a shoe.
Terence Reilly understands this concept.
He engineered a viral marketing campaign not once, but twice. First at Crocs, and now most recently with a tumbler that is on track to bring $1Billion in sales - the Stanley Tumbler.
Advertising: He got ads on social platforms and search engines to tell people about the product and brand. They were targeting a new audience - Moms. It was a shift from their traditional outdoorsy narrative.
Promotion: He shipped free product to influencers and content creators encouraging unboxing videos.
Publicity: By saturating social channels he got his partners' content to be picked up by multiple media outlets.
Public Relations: He partnered with beloved brands like REI and Starbucks to make co-branded products.
Marketing: He planned the whole thing and masterfully executed a multi-channel marketing strategy that achieved wild success.
The product? It's OK. It's a 45$ tumbler. Haters described the product as a fad. Just like Crocs. But that didn't stop the tsunami. Again.
Can you do that? Yes, but it will require a plan, don't just wing it!
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