Marketing is also economics
From the economic analysis part, marketing tends to be despised. Are marketing and economics different things?
Indeed, marketing and economics are different. In the same way that economics and business administration are also. But that difference does not make them incompatible at all. On the contrary, an entrepreneur has knowledge that an economist does not have and a marketer knows things that an entrepreneur does not.
Marketing has always existed, it is not a newly created discipline. It is very different that now the knowledge has been limited, collected in books and taught in universities. However, marketing - a very broad discipline, by the way - has not only always been present, but is found in all facets of our lives.
It is found in all facets, we say, because every day, in every situation and without realizing it, we are applying marketing techniques. We do not wear the same clothes to go around the house as to go out to party, we do not use the same language in a job interview as to talk with friends, when we have an important appointment we try to give a good image. This, which has always existed, is marketing. The image, as much as we don't like it, is important. Of course, it is not the most important thing and it is a mistake to judge someone by their appearances. However, because of how society is structured, we need, in addition to adding value, selling ourselves well, having a good packaging. And with packaging, we are not referring to having a good physique. The package is knowing how to talk about yourself, knowing how to act in certain situations, knowing when to hit the brakes and when to lift your foot off the gas, knowing when to talk about your mistakes and when about your achievements. It is what we project to others, whether or not it corresponds to reality.
Even if you are a highly educated person, super intelligent, with incredible ethics, if you go to a job interview in your underpants they will not hire you. Something similar happens with business. In the same way, if you want to take a trip with friends to Paris, and you tell them about Paris as the worst city in the world, they will not want to go. Or even more clearly, you are more likely to convince them if you tell them about how beautiful Paris is than if you simply do not make your proposal. Another thing is that Paris is then what you have told them it is.
Good marketing or good product?
One of the bitter debates has focused on that a good product sells itself. And it is true, we are not going to deny it now, that it is much easier to sell products that are of good quality. Now, in general, the most successful companies are those that take care of all the details. They focus on making a good product, with benefits and guarantees, but they do not neglect marketing.
And, by the way, marketing is not just about advertising and protocols to sell more. Marketing is also about selling better, taking care of the customer, worrying about what they need. You can make the best product in the world that if nobody needs it, nobody will buy it. Marketing is, of course, working on the emotions of the customer, on your brand, what your company or product wants to convey. It is, in a way, transmitting the passion that the creator of a product feels when offering it to others.
In recent years, a very illuminating example of this has been Apple. The iPhone is a great terminal, we agree. But what Apple has achieved, in addition to making high-quality cell phones, is that they are beautiful, pleasant to see. And more importantly, transmit a philosophy to the client. And in these, many Apple customers feel part of the brand. Even if they are not shareholders, they feel that a part of the company and the brand belongs to them. When the company does well and grows, they feel satisfaction.
It goes without saying that marketing is very broad and covers many aspects. Here we have only treated it superficially and with an example of the hundreds of thousands that exist. Another problem, which perhaps motivate the rejection of some of the discipline, is its misuse. That is, companies that use marketing to sell an image of the brand or product that is far from reality, just to get sales. And it may be that that is also marketing, but of course it is not the marketing that many of us would apply in our companies.
The idea of marketing is that it helps you sell more. If they do not know your product, no matter how good it is, they will hardly buy it. And, gentlemen, there is the marketing to help you. If you can have it all, and the union of the parts is much more than the sum alone, what is the point of confronting them?