Marketing terms explained with simple, funny examples

Marketing, the way you communicate the value of your product, service or brand, comes in roughly a hundred different flavors. To make sense of it all, a professor at an American university explains the main types of marketing and some of the most common marketing terms with simple examples that will make you laugh and think at the same time:

 

• You’re at a party and the hottest girl you’ve ever seen walks into the room. You walk straight up to her and break the ice with: “I’m very rich. Go out with me!” That’s direct marketing.
• You’re at a party with your friends. The hottest girl you’ve ever seen walks into the room. One of your friends walks up to her, points at you and tells her you’re very rich and she should go out with you. That’s advertising.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. You manage to get her phone number, and the next day you call her and say: “I’m very rich. Go out with me!” That’s telemarketing.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. You politely introduce yourself, get her a drink, compliment her all evening, hold the door for her on the way out and offer her a ride home. At the end of the night you say: “Did I mention I’m rich? Will you go out with me?” That’s public relations.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. She walks up to you and says: “You’re very rich. I want to go out with you!” That’s brand recognition.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. You walk straight up to her and break the ice with: “I’m very rich. Go out with me!” She turns to you and throws her drink right in your face. That’s customer feedback.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. You walk straight up to her and break the ice with: “I’m very rich. Go out with me!” She smiles at you, but at that very moment her boyfriend shows up and introduces himself. That’s a mismatch between supply and demand.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. Before you can work up the nerve to walk over, someone else goes up to her and tells her he’s very rich. She leaves with him. That’s the competition eating into your market share.
• You’re at a party and the hottest girl you’ve ever seen walks into the room. Just as you’re about to walk over, tell her you’re rich and ask her out, your wife shows up. That’s a barrier to entering new markets.

Which of these marketing techniques have you used? Which one worked best for your product, service or brand? Tell me in the comments below!