What Is Marketed?

December 23, 2008
Marketing people are involved in marketing 10 types of entities : goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

Photobucket

view photo page

Goods, Physical goods constitute the bulk of most countries production and marketing effort. Each year, U.S. companies alone market billions of fresh, canned, bagged, and frozen food products and millions of cars, refrigerators, television sets, machine and various other mainstays of a modern economy. not only do companies market their goods, but thanks in part to the internet, even individuals can effectively market goods.

Services, As companies advance, a growing proportion of their activities is focused on the production of services. The U.S. economy today consists of a 70-30 services-to-goods mix-services include the work of airlines, hotels, car rental firms, barbers and beauticians, maintenance and repair people, as well as professionals working within or for companies, such as accountants, bankers, lawyers, engineers, doctors, software programmers, and management consultants. Many market offerings consist of a variable mix of goods and services. At a fast food restaurant, for example, the customer consumes both a product and a services.

Events, Marketers promote time-based events, such as major trade shows, artistic performance, and company anniversaries. Global sporting events such as the Olympics or World Cup are promoted aggresively to both companies and fans.  There is a whole profession or meeting planners who work out the details of an event and make sure it comes off perfectly.

Experiences, By orchestrting several services and goods, a firm can create, stage, and market experiences. Walt Disney World Magic Kingdom represents experiential marketing: Customers visit a fairy kingdom, a pirate ship, or a haunted house. So does the Hard Rock Cafe, where customers can enjoy a meal or see a band in a live concert. There is also a market customized experiences, such as spending a week at a baseball camp playing with some retired baseball greats, paying to conduct the chicago symphony Orchestra for five minutes, or climbing Mount Everest.

Photobucket

Persons, Celebrity marketing is a major business. Today, every major film star has an agent, personal manager, and tie to a public relation agency. Artists, misician, CEOs, physicians, high-profile lawyers, and finaciers, and others professional are also getting help from celebrity marketers. Some people have done a masterful job of marketing themselves -think of Madonna, Oprah Winfrey, the Rolling Stones, Aerosmith, and Michael Jordan. Management consultant Tom Peters, himself a master at self-branding, has advised each person to become a “brand.”

Places. Cities, stats, regions, and whole nations compete actively to attract tourist, factories, company headquatters, and new residents. Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. To fuel their high-tech industries and spawn entrepreneurship, cities such as Indianapolis, charlotte, and raleigh-durham are wooing 20 to 29 year-old through ads, PR, and other communications. Louisvikke, Kentucky, spends $ 1 million annually on e-mails, events, and networking appraches to convince 20-somethings of the city’s quality of life and other advantages.

Properties. Properties are intangible rights of ownership of either real property (real estate) or financial property (stocks and bonds). Properties are bought and sold, and this requires marketing. real estate agents work for property owners or sellers or buy residential or commercial real estate. Investment companies and banks are involved in marketing security to both institutional and individual investors.

Organizations. Organizations actively work to build a strong, favorabke, and unique image in the minds of their target publics. Companies sp4end money on corporate identity ads. Phillips, the Dutch electronics company, puts out ads with the tag line “Let’s Make Things Better.” In the United Kingdom, Tesco’s “Every Little Bit Helps” marketing program has vaulted it to the top of the supermarket chains in that country. Universities, museums, performing arts organizations, and non-profits all use marketing to boost their public images and compete for audiences and funds.

Information. Information can be produced and marketed as a product. This is essentially what schools and universities produce and distribute at a price to parents, students, and communities. Encyclopedias and most nonfiction books. market information. Magazines such as Road and Track and Byte supply information about the car and computer worlds, respectively. The production, packaging, and distribution of information is one of our society’s major industries. Even companies thet sell physical product attempt to add value through the use of information. For example, the CEO of Siemens Medical Systems, Tom McCausland, says, “[our product] is not necessarily an X-ray or an MRI, but information. Our business is really health-care information technology, and our end product is relly an electronik patient record: information on lab tests, pathology, and drugs as well as voice dictation.”

Photobucket

Ideas. Every market offering includes a basic idea. Charles Revson  of Revlon observed: “In the factory, we make cosmetic; in the store we sell hope.” Products and services are platforms for delivering some idea or benefit. Social marketers are busy promoting such ideas as “Friiends Don’t Let Friends Drive Drunk” and “A Mind Is a Terrible Thing to Waste.”Sources :Kotler & Keller. 2006. Marketing Management. New Jersey : Pearson International Edition.