Marketing – Why is it so important?

These days we read a lot about consultants helping firms devise marketing strategies based on many varied factors including but not limited to the demographic of the targeted customer base, classification of the customer base into various segments, use of new technologies like Big Data , Analytics etc.

Despite all the technological wizardry in display these days, if we try and simplify this to its bare minimum… What is marketing? Marketing is nothing but a philosophy or a raw set of techniques to make a particular product or a service highly desirable to the customer. Marketing need not necessarily be part of selling a ready made product or service. Often a failed marketing approach can reveal deep insights on exactly what gap or niche demand of the customer the existing product / service fails to fulfill and can in turn help devise a best fit product or service.

Also is marketing relevant only to a big firm? In reality.. definitely not. The rise of social media, the 24/7 media frenzy, the short attention spans have made marketing a key necessity for every professional. This is nowhere more apparent that in the entertainment industry where stars big and small jostle for space in the newsprint and ensure their comments or activities or social interactions regularly appear in the mass media and help them further build their personal brand.

as an example, top Indian movie stars like Aamir Khan have perfected the art of manipulating the news cycle to their benefit by having

1) Self imposed periods of exile
2) Followed by intense media curiosity build up by teaser posts in social media
3) select interviews ensuring tight control and management of the message and careful build up of attention.

The case of the average but brilliantly successful movie “PK” is a good example. An almost nude, buffed up , photo-shopped picture posted on social media by the star himself, This ensured some resultant excitement and attention in news media. Subsequent teaser posts like “In the next photo even the radio is not there” and comments by the star himself and others etc ensured continued attention helping the build up.

In my next post, i will try to provide my take on some of the brilliant marketing campaigns that I’ve noticed.