What Is Marketing?

6.

Marketing Communications and Promotions

MARKETING IS THE PROCESS THROUGH WHICH A firm creates value for its chosen customers by meeting those customers’ needs.¹ The firm is then entitled to capture a portion of the created value through pricing. But before this can happen, the consumer not only must be aware of the product’s existence but also must sufficiently value it to choose the firm’s product over competitive products or over not buying at all. This is where marketing promotions come into play.

The chapter “Marketing Strategy” set out the six Ms model for communications planning (see figure 6-1). The first three elements of that model deal with overall strategic goals, while the last three delve into implementation.

FIGURE 6-1

Six