Marketing people market 10 types of entities:
1- Goods: Physical goods constitute the bulk of most countries' production and marketing efforts. Each year, companies market countless number of fresh, canned, bagged, and frozen food products and millions of cars, refrigerators, television sets, machines, and various other mainstays of a modern economy. Not only do companies market their goods, but thanks in part to the Internet, even individuals can effectively market goods.
2- Services: As economies advance, a growing proportion of their activities focuses on the production of services. For example, the U.S. economy today consists of a 70-30 services-to-goods mix. Services include the work of airlines, hotels, car rental firms, barbers and beauticians, maintenance and repair people, and accountants, bankers, lawyers, engineers, doctors, software programmers, and management consultants. Many market offerings consist of a variable mix of goods and services. At a fast-food restaurant, for example, the customer consumes both a product and a service.
3- Events: Marketers promote time-based events, such as major trade shows, artistic performances, and company anniversaries. Global sporting events such as the Olympics and the World Cup are promoted aggressively to both companies and fans.
4- Experiences: By orchestrating several services and goods, a firm can create, stage, and market experiences. Disney theme parks represent this kind of experiential marketing, allowing customers to visit a fairy kingdom, a pirate ship, or a haunted house. There is also a market for customized experiences, such as spending a week at a baseball camp playing with retired baseball greats, conducting the Chicago Symphony Orchestra for five minutes or climbing Mount Everest.
5- Persons: Celebrity marketing is a major business. Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals all get help from celebrity marketers. Some people have done a masterful job of marketing themselves-think of David Beckham, Oprah Winfrey, and the Rolling Stones. Management consultant Tom Peters, himself a master at self-branding has advised each person to become a "brand".
6- Places: Cities, states, regions, and whole nations compete actively to attract tourists, factories, company headquarters, and new residents. Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. For example, in the United States, Nevada's Las Vegas Convention & Tourism Authority spent about $80 million on a provocative ad campaign, "What Happens Here, Stays Here." Returning to its roots as an "adult playground," Las Vegas hoped the campaign would lead to an increase from 37.4 million visitors in 2004 to 43 million visitors by 2009.
7- Properties: Properties are intangible rights of ownership of either real property (real estate) or financial property (stocks and bonds). Properties are bought and sold, and these exchanges require marketing. Real estate agents work for property owners or sellers, or they buy and sell residential or commercial real estate. Investment companies and banks market securities to both institutional and individual investors.
8- Organization: Organization actively work to build a strong, favorable, and unique image in the mind of their target publics. In the United Kingdom, Tesco's "Every Little Helps" marketing program reflects the food marketer's attention to detail in everything it does, within as well as outside the store in the community and environment. The campaign has vaulted Tesco to the top of the UK supermarket chain industry. Universities, museums, performing arts organizations, and nonprofits all use marketing to boost their public images and to compete for audiences and funds. Corporate identity campaigns are the result of intensive market research programs. This is certainly the case with Philips "Sense and Simplicity" campaign.
9- Information: Information is essentially what books, schools, and universities produce, market, and distribute at a price to parents, students, and communities. Magazines such as Road and Track, PC World, and Vogue supply information about the car, computer, and fashion worlds, respectively. The production, packaging, and distribution of information are some of the world's major industries. Even companies that sell physical products attempt to add value through the use of information. For example, the CEO of Siemens Medical Systems, Tom McCausland, says, "our product is not necessarily an X-ray or an MRI, but information. Our business is really health care information technology, and our end product is really an electronic patient record information on lab tests, pathology, and drugs as well as voice dictation.
10- Ideas: Every market includes a basic idea. Charles Revson of Revlon once observed "In the factory, we make cosmetics; in the store we sell hope." Products and services are platforms for delivering some idea or benefit. For example, in the United States, social marketers are busy promoting such ideas as "Friends Don't Let Friends Drive Drunk" and
"A Mind Is a Terrible Thing to Waste."