The ARC of Marketing

I just looked up MARKETING on Wikipedia. I have a headache. Here’s what Wiki says;

Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as pricediscountswarranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness ofloyalty to, and positive feelings about a brand. 

That’s one sentence. It has one period, which comes after the late and singular appearance of the word “brand.”

Maybe we need something simpler and more memorable. How about this:  Marketing is an ARC:  The business of Acquiring, Retaining, and Cultivating CUSTOMERS.

Acquire:  Attract customers you don’t already have.

Retain:  Keep the customers you have, work to keep them satisfied.

Cultivate:  Grow spending and engagement from the customers you have.

What do you think?

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