What do marketers do?
Simply, they capture, communicate, distribute, and monetize value. This definition is not entirely intuitive and needs an example.
An example that is top of mind for the author is an Indian company called Nursery Live. They sell live plants and gardening equipment and supplies for the amateur gardener. Nursery Live is a thriving business. What value did they capture? They serve the niche and all the needs of hobby gardening. Surprisingly, not many had thought of this niche. Nursery Live has a beautiful online store with a catalog full of everything a hobbyist needs. So, simply, they have turned hobby gardening into a business and have done it exceedingly well.
But, is it all as simple of finding an unmet need and then creating an online catalog?
No! It takes a carefully thought out strategy to create a long-term, viable, and sustainable business. First, think of what customer segments you are going to target. Does Nursery Live target anyone looking to use plants as decorations? No, they do not. They specifically target people who want to be actively engaged and involved in the activity of gardening. This allows them to offer not just a catalog of plants, but also of gardening supplies and decorations. More importantly, it gives them a chance to engage their customers through their regular marketing communications updates.
This choice of customer segment naturally affects their entire marketing mix - their product, price, placement, and promotions.
The product is hobby gardening - not plants or supplies. The pricing is suited to people who are hobbyists. The distribution is online. The promotion too is mostly via paid advertising on social media, where people might be looking for hobby ideas and more.
In short, the strategy is coherent from the get-go. And that is what the authors want to emphasize. Good marketing starts with a strategy. It is not about some clever gimmickry, nor does it happen per chance.
It starts with great planning. So, if you are a small business thinking of how to market your products, first mull over your entire strategy and consider if you have a coherent one in place. The marketing will then happen automatically.