What Is Marketed in Marketing?

Introduction

Marketing is all about encountering the different needs of consumers and society and doing all sorts of activities to meet those needs. It is delivering value to consumers through different communication channels to maintain a strong relationship with them and foster profitability for the organization and its stakeholders.

It is also defined as a social process by which different people and groups of people get what they need and want by offering different valuable products and services.

Marketing people generally market 10 types of entities. Let's discuss each one of them −

Goods

The physical goods available in the market constitute the load of a particular country’s production, and more than 50 percent of marketing goes into promoting the physical goods present in the market. The different physical goods present in our house are produced by different companies in India. Indian companies market a bundle of different physical goods each year. For example, there are ‘n’ numbers of physical goods like cars, trucks, television, and various other sources in the modern economy.

Services

In our day-to-day lives, we come across different forms of services. The services that are provided to us when we go to the airport or when we go to a beautician are marketed. The marketing of services is a new challenge in the booming economy of today. We get different services from lawyers or doctors. So services are an important objective for any marketing strategy. In many markets, we see a mix of products and services. For example, when we go to a restaurant, we see the marketing of both goods and services.

Events

Nowadays, there are different events that are marketed. For example, the different musical concerts of big singers are marketed on different platforms of social media. The same goes for different company events and sports events.

Experiences

The experiences of a consumer, when he/she uses a particular product or service can also be used for marketing. For example, when we go to a particular amusement park, we get a chilling experience that is marketed. A theme restaurant that creates the aroma of a village in Rajasthan also creates an experience for the consumer, which is marketed.

Persons

Celebrity marketing is a major source of business nowadays. The different renowned personnel takes the help of different marketers to get popular. Different artists, singers, CEOs, physicians, and high-profile lawyers take the help of social media platforms to get in the spotlight. Some people do the marketing on their own. For example, when we say Amitabh Bachchan, he is a brand of his own. Nowadays, the formula of self-branding is at its pace.

Places

Different places in a country are attractive destinations for many tourists. It's an important source of income.

It is not only about tourists. Different cities as well as countries battle among themselves to get the attention of factories, company headquarters, and new residents. And this is well done by different marketing platforms. In the software world, Bangalore is termed the Silicon Valley of India, and in the tourism industry, Kerala is marketed as God’s own country.

We have all seen the government's campaign in Incredible India to foster the tourism industry in India. This is an example of place marketing.

Properties

Properties are intangible ownership of either real property or financial property. The different properties are bought and sold through different marketing platforms. For example, the Grow app is an app to promote mutual funds and stocks. Different real estate properties are marketed through different marketing platforms. Different stocks are marketed by banks and investment companies to both institutional and individual investors.

Organization

Different organizations nowadays are brands in themselves. For example, when we talk about Amazon or TCS, there is an image created in our mind because we see them marketed all around us. We remember different companies through their taglines. Reliance is an organization that we all know. Similarly, different universities, museums, and performing arts organizations use marketing to accelerate their public image and compete with consumers and funds. Different corporations run certain campaigns to boost their brand image.

Information

The information that we get from a book, school, or university is also marketed. The information industry is the most booming industry nowadays. The production, packaging, and distribution of information are some of the ruling industries nowadays. The different products are also marketed with the help of information. So when we market any good or service, we are also marketing the vivid information related to it.

Ideas

Any marketing campaign requires a certain blueprint for its implementation, and the blueprint is created by different ideas. There are different ideologies that apply to any marketing campaign. Any product or service is a way of delivering ideas to people. Nowadays, social media marketing is a form of putting one’s idea in front of people.

Conclusion

So as we discussed, there are 10 types of entities that are promoted and marketed. Marketing of these entities helps to create value for them along with marketing the organization.