“Business” is a broad term encompassing marketing, management, accounting, finance, and other functional areas. Each of these areas play a key role in the operation and success of any business, but for this article we’re going to focus on marketing. First, with a definition from a leading marketing organization, and then some clarification of our own.
The American Marketing Association (AMA) defines marketing as:
“ … the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large.”
In other words, marketing drives business. It’s what lets the world know a product or service exists. It allows an organization to highlight the benefits of their products, services, or mission and differentiate themselves from the competition. An organization may market to consumers (business-to-consumer, or B2C), to other businesses (business-to-business, or B2B), or both. Let’s review some ways that an organization markets what it has to offer to the world.
Modern Marketing Strategies
As media and technology evolve—and consumers become more marketing-savvy—marketers must adapt and introduce new kinds of marketing to connect with their intended audience. Let’s look at a few of the kinds of marketing that organizations use today, starting with some of the more traditional tactics. It should be noted that a business may use any combination of these to achieve their marketing goals, as no single form of marketing necessarily appeals to or reaches all potential consumers.
- Outbound Marketing
This is “traditional” marketing, which includes the use of advertising channels such as broadcast, outdoor (billboard), and print to share a promotional message.
- Inbound Marketing
This style of marketing uses more modern marketing avenues, such as social media and blogs, and allows marketers to target their messaging to a specific audience.
- Content Marketing
This involves the creation of original videos, articles, product reviews, and other types of content for use as internet-based marketing tools.
- Keyword Marketing
Businesses employ search engine optimization by using highly searched words and phrases in their web presence to make their online marketing easier to find.
The incredible growth of both the internet and social media have given “word-of-mouth” (WOM) marketing a tremendous reach that wasn’t previously possible. Examples include:
- Viral Marketing
This is a phenomenon in which people share funny, touching, clever, unique, or otherwise interesting marketing messages with others via social media, text, or email. Recipients then share those same marketing messages with others, and the process continues until the marketing message’s reach has grown exponentially.
- Influencer Marketing
Largely a 21st-century phenomenon, this type of marketing revolves around celebrities and influencers promoting a product or service through a devoted following.
Marketing is a rewarding and dynamic field, but it’s also a challenging one. If you’re interested in becoming a marketing professional, you’ll need to gain the credentials that will both help you enter the field and advance within it.
Lucrative Marketing Careers
Marketing expertise can prepare you for a rewarding career in a near-limitless variety of fields and private and public companies. As just one example, marketing managers enjoy annual salaries in the six figures. According to the U.S. Bureau of Labor Statistics (BLS), advertising, promotions, and marketing managers earn median annual pay of $133,380. Having an advanced degree can help you compete for high-paying roles such as marketing manager.
Valued Marketing Credentials and Expertise
If you want to see what an advanced degree can do for your professional potential, consider our online Master of Business Administration with emphasis in marketing. Offered through our AACSB-accredited College of Business, our program helps bachelor’s degree holders build highly marketable leadership and operational skills and knowledge. In as little as four semesters and with 33 credits, you can graduate ready to pursue a variety of coveted marketing positions.
A More Accessible Master’s Degree
Choose UT Permian Basin for your online MBA with emphasis in marketing and you may be surprised at the accessibility of our program’s cost and convenience. UTPB has some of the most competitive tuition rates of any accredited U.S. university of our stature. Further, our program’s 100% online, asynchronous format enables you to complete your degree on your own schedule from virtually anywhere in the world. Maintain your professional and personal commitments while completing our program.
See what our advanced marketing degree can do for your career prospects. Apply now.
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