Today’s Definition of Marketing. Has it Changed?

Basic, traditional marketing is as relevant as ever. The Four P’s – product, price, place (distribution), and promotion – whether you tack on added P’s and C’s or not, are still very much alive. Strategic thinking, segmenting, and targeting can still earn you a competitive advantage.

Marketing still means determining what our customers need and want, planning how we are going to meet those needs and wants, and then implementing our plan.
We still have products, services, and ideas to sell at some price. We still deliver to our customers via some means of distribution. We still promote and we still advertise. Those are the basics. Those basics still exist and always will.

What *has* changed is the business environment. Companies compete with more efficient technologies. Customers have better access to their cost options and they communicate to each other in ways not even conceivable in the pre-Internet age.
In some industries, the Internet has lowered the cost of entry so that entrepreneurs – many times from a home office – have entered the competition. The changes in competitive environment are numerous. What have also changed are marketing strategies and the marketing programs we have available to implement those strategies.more

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