How Do You Define Marketing?
The word marketing is often used as a synonym of everything from advertising to strategy, but is there a more precise definition?
Our vocabulary is our mental toolbox, and the words are the tools with which we think. Just to really grasp the idea or concept behind one single word can work wonders for our perspective and our ability to think strategically and holistically. So let us talk about the word marketing.
Meet Mr. Ottesen
There are many fine definitions of the term marketing, but let me introduce you to one that brings clarity and perspective to it:
Enter Mr. Otto Ottesen, professor at University of Stavanger. In my opinion, he is in the same league as other famous marketing thinkers, like Philip Kotler and Michael Porter.
Mr. Ottesen started his career in the advertising industry, and later moved on to an academic career where he would work as a professor at the Copenhagen Business School and at the Norwegian Business School, where I am an alumnus.
With his book Marketing Communications (which is part of the curriculum at the Norwegian Business School) he has delivered an important, and quite unique contribution to the science of marketing, by placing marketing communications into an understandable, but yet complete perspective.
Marketing Defined
Ottesen defines marketing as follows:
Marketing consists of giving a marketing offer and doing marketing communications.
In order to obtain a full understanding of this definition, and thereby understanding the nature of marketing, we must also define the words marketing offer and marketing communications.
The Marketing Offer
The marketing offer (MO) is everything that matters to the buyer in relation to these phases:
- while preparing to make the purchase
- while purchasing
- while using or consuming the product or service
Marketing Communications
Marketing communications (MC) are all forms of communication between the buyer and the seller, and has the following aim:
- communicate the marketing offer
- show the way to the marketing offer
- remind the consumer of the marketing offer
A Holistic Definition of Marketing
Maybe you miss terms like positioning, branding, segmenting or distribution in this definition. If you do, please note that these marketing disciplines are also covered in Mr. Ottesen’s holistic view of marketing, that few international marketing thinkers so far have been able to present in such a holistic manner.
The practical value of knowing these terms and this theory is worth its weight in gold, since your marketing efforts on a strategic level will consist of analyzing the marketing offer and the marketing communications, and making thoughtful and strategically founded adjustments that will contribute to achieving your business goals.
So how do we define marketing, again? It is your offer and your communications. Now, let’s get busy and get some decent marketing done around here!
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