Hello guys, Today we will study one of the most important topics of marketing that is what can be marketed or we can say what is marketed. Philip Kotler has defined ten things that can be marketed which will include ideas that can be marketed, goods that can be marketed, and many more. So friends let’s get started.
What do you understand by the term marketing?
Marketing is all about identifying human and social needs, then meeting those needs profitability. Let’s take an example of marketing, When Ola shows that there is a need for a taxi in the market that can pick up people from their doorstep at an affordable price then Ola came into the market with their cab services.
Friends here I want to clear one confusion of yours that sales and marketing are the same or different. So, friends sales and marketing are totally different terms where sales stand for selling a particular product or service and it is a part of marketing. Marketing is a broader term that includes the marketing plan, strategy building, identifying the market trends, etc.
What can be marketed? Or what is Marketed?
Kolter and Keller’s marketing management book has defined ten things that can be marketed and today we will see in detail these ten entities that can be marketed. So now we will look at the answer of what can be marketed?
- Goods: Physical goods consist of the tangible item and it includes the marketing & production efforts of most of the companies. In this world, several companies are rigorously working on the production of goods and marketing of those goods. As we are looking at the topic ‘what can be marketed’ so let’s see some of the goods examples that are marketed, cars, utensils, furniture, and laptop are some common examples of goods that can be marketed. If you are looking for an answer to what is marketed so on a daily basis there are thousands and millions of goods that are being marketed.
- Services: Services are intangible that cannot be seen, touched or we can say that services are those that cannot be sensed by our senses. Currently, services are highly marketed as the services sector is a highly contributing sector to the GDP of India and other several countries. Let’s take the example of a service that can be marked educational service, It service, medical service, lawyers, bankers, etc.
- Events: You will be amazed to know that there are various events that are being marketed. Companies markets their anniversaries, various sports events are being promoted such as Olympics, world cup, local trade shows, book fairs, craft fairs, and artistic performance.
- Experiences: Nowadays most companies are working on providing experiences. Yearly millions of people are visiting Walt Disney World’s Magic Kingdom and they allow customers to visit a pirate ship, a haunted house, or a fairy kingdom.
- Persons: You must have listened to the term personal branding. There are many artists and entrepreneurs who are working on personal branding means they are marketing themselves. In India Vivek Bindra has built his personal brand, many musicians have build their personal brands such as Arijit Singh, Darsan Raval, and many more. Social media is the most popular platform for developing a personal brand and marketing oneself.
- Place: Country, Cities, states, and regions are competing to attract tourists, companies, factories, residents, company headquarters. Place marketers include real estate agents, advertising, and public relations agencies, local business associations, and commercial banks. Government promotes tourist places of the country by television and social media for attracting tourists.
- Properties: Properties come under the intangible rights of ownership to the financial property or either the real state property. Properties are bought and sold and for this process of buying and selling marketing is required. Various real estate companies are working for buying and selling residential areas, factory properties, commercial real estate.
- Organizations: Organisations are separate entities, or we can say the organization is an artificial person. Such as there are educational organizations, health organizations which include hospitals, medical institutes, companies. Organizations are being marketed if we see the example so TATA organization, Birla institutes, and other nonprofit organizations are also being promoted.
- Information: Information is being marketed and promoted as products are promoted. Mainly educational institutes are promoting and marketing information and earning in return os that information. For example newspapers, research papers, and magazines, etc are being marketed as a piece of information.
- Idea: Every company is selling idea which gives value to customers. Many startups come up with new and innovative ideas and now they are marketing those ideas. Byju’s came up with the idea of providing online education and now they are selling that idea.
Friends, this is was the answer to the question of what can be marketed, these were 10 things that can be marketed, and if you are going to start a new business so take out the best entity which you can serve to market. Always keep in mind that you provide value to customers whatever you market. So, Friends, this was the detailed guide on what is marketed or what can be marketed. We have discussed ideas that can be marketed, experiences that can be marketed, and many things more.
What are goods in marketing?
Goods are a tangible entity which can be marketed. Goods are a tangible item which can be seen and touched. For example cars, bikes, biscuits, and other tangible items.
What are the 4 types of product?
Following are the 4 types of product:
- Convenience goods
- Shopping goods
- Specialty products
- Unsought goods.
Two ideas that can be marketed?
There are various ideas that can be marketed, but the only thing you have to remember, that idea must provide value & satisfaction to customers. If we talk about two ideas that can be marketed so first is selling clothes online so here the idea is to bring comfort to customers and saving their valuable time. The next idea that can be marketed is online education, Ed-tech companies are promoting and marketing online education helping students to learn from home.
What is marketed by Kotler?
According to Dr. Philip Kotler, what is marketed means the science and art of creating, exploring, and delivering the best values to your customers and satisfy the target market with a profit.
Who is the first marketer in the world?
Philip Kotler is the marketer in the world. He belongs to America and studies at the DePaul University University of Chicago, Massachusetts Institute of Technology. He is known for marketing and economics. By Profession, he is a Marketing Professor, Author, Consultant, and Economist.
What can be marketed explain it with examples?
There are 10 things that can be marketed such as goods, ideas, services, experiences, etc. Let’s take what can be marketed examples such as the example of goods that can be marketed are furniture, fans, etc. Services can be marketed, Examples of services that can be marketed are educational services, health services.