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What is Marketing? A MktSoc Introduction
September 14th, 2020
By: Camille Rochaix
Interested in marketing? You have come to the right place. :)
Welcome to the NYU Marketing Society (MktSoc) blog! This semester, every two weeks, our blog writers will share their perspectives, experiences, and passions related to marketing and NYU life. We also want to hear from you– what would you like to read about? Make sure to comment below, and come to our weekly meetings to learn more!
What is Marketing?
According to the Oxford Dictionary, marketing is “the action or business of promoting and selling products or services, including market research and advertising.” Without marketing, businesses would fail as they would fail to communicate their ideas, products and services to their customers. Even if your small start-up does not have a designated role for a marketer, somebody in your business is marketing what you are selling. Whether it is from word-of-mouth, social media, advertising, or public relations, your business is communicating to consumers the information about your product.
A great framework for thinking about marketing strategy is considering an organization’s 4Ps. The 4Ps of marketing are: Price, Product, Place and Promotion.
Price: Why did the company choose a certain price for their product? Were they competing with their competitors and tried to undercut/over cut them?
Product: How did the company design their product? How is it created and what function does it serve? What are its key features?
Place: What is the company’s target market? Why did they choose this location to launch their product? What are their methods of distribution?
Promotion: What channels did they choose to promote their product? An advertisement in the Super Bowl? Print Magazine layout? Social media campaign? Or a combination of all three?
What types of Marketing are there?
As previously mentioned, marketing roles have many different forms, and many marketers have different specialties. Marketing roles can be creative and analytical.
Here are a few examples of creative marketing roles:
Content marketing
Video Marketing
Social Media Marketing
Public Relations
Advertising
Don’t consider yourself creative? Don’t panic, marketing has many roles that would suit you. For instance, as technology continues to develop at a fast pace, employers are increasingly searching for recruits that have hard technical skills such as CS and data analytics.
Here are a few examples of analytical marketing roles:
Search Engine Optimization (SEO)
Market Research Analytics
Pricing Analyst
Ad Sales
Product Developer
How can Marketing Society help me build my career?
Marketing Society is the perfect place to connect with other marketing students, alumni, professors, and professionals. Each week, we bring in an experienced marketer to speak about their current role, explain the path they took to get there, and share their insights on the marketing industry.
Aside from offering chances to expand your network, Marketing Society also provides resources to help you develop marketing skills. For example, our mentorship program includes workshops on using Adobe Photoshop, Google Analytics, Excel, and more. Our weekly newsletters are another great way to stay connected with our events and learn about new internship and entry level opportunities.
Finally, MktSoc focuses on making friends and having a good time. We are a fun group with a wide variety of passions, always interested in learning new things and meeting new people. We hope to see you at one of our meetings very soon! Follow us on our Instagram and Facebook to get updates :)
Camille Rochaix is Marketing Society's 2020-2021 Co-Vice President and Founder / Editor of the Marketing Society Blog. Camille is currently a Junior at NYU Stern concentrating in Marketing and minoring in Media, Culture and Communications and Business of Entertainment, Media & Technology.
Picture is courtesy of the MktSoc Website and the authorship of the Graphic is unknown.
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