Marketing Practice vs. Marketing Thought
In my previous blog, I dwelled on how Marketing Evolved and I had just given a small glimpse of this topic showcasing the basic difference between Marketing Practice & Marketing Thought.
Marketing is both an art and a science, requiring strategic thought and hands-on execution. Two key concepts in this realm are marketing practice and marketing thought. Understanding the relationship between them can lead to better business results.
What is Marketing Practice?
It refers to the actions, methods, and tools companies use to promote their products or services. It involves practical activities like running ad campaigns, optimizing SEO, managing social media, and measuring performance analytics. These are the daily tasks that marketing teams engage in to generate leads, build brand awareness, and drive conversions.
To explain this with an example, Nike’s “Just Do It” campaign is an example of marketing practice in action. It was executed through various channels—TV ads, social media, and in-store displays—to inspire athletes and fitness enthusiasts, making it one of the most successful branding efforts in history.
What is Marketing Thought?
It is the theoretical side of marketing. It consists of the principles, philosophies, and strategies that guide decisions about market segmentation, consumer behaviour, branding, and value proposition. This involves deep thinking about market positioning, understanding trends, and forecasting future changes in consumer needs or competition. Marketing thought shapes the long-term vision, ensuring campaigns align with broader goals.
Tesla’s marketing thought revolves around positioning itself as a leader in innovation and sustainability. The company doesn’t rely heavily on traditional advertising. Instead, its strategy focuses on building brand perception through product innovation and Elon Musk’s brand as an advocate for clean energy.
Relationship Between Marketing Practice and Marketing Thought
Marketing practice and marketing thought are interdependent. Effective marketing practice stems from solid marketing thought. For example, a company might develop a thought-out strategy for positioning a luxury product based on deep consumer insights. The practice then manifests through the brand’s marketing channels—premium ad placement, exclusive influencer partnerships, and a curated social media presence. Without marketing thought, practices risk becoming scattered, inefficient, or ineffective.
Conversely, marketing thought remains just theory without execution. Marketing practices test and refine ideas, offering real-world insights that shape future thinking.
Apple’s marketing thought has always been centred around simplicity, premium quality, and an aspirational brand image. The marketing practice reflects this through minimalist product ads, clean website designs, and a focus on customer experience in Apple stores. Both thought and practice work together to maintain a consistent brand identity.
Best Practices for Yielding the Best Results
- Data-Driven Strategies: Use customer data to inform marketing thought and practice, ensuring that actions align with market realities and consumer behaviour.
Example: Netflix uses viewing data to shape its content recommendations and inform decisions about new content production. - Consistency Across Channels: Whether online or offline, your message should reflect the brand’s strategic thought consistently to build trust and recognition.
Example: Coca-Cola’s “Share a Coke” campaign was a seamless blend of thought and practice, placing personalized names on bottles to create a more personal connection with customers, both online and in-store. - Agility in Execution: Be ready to adapt marketing practices based on real-time performance, staying aligned with evolving marketing thoughts.
Example: During the COVID-19 pandemic, many companies, like McDonald’s, shifted their marketing practice to emphasize contactless delivery while aligning with the broader thought of maintaining customer safety and trust. - Cross-functional Collaboration: Involve other departments (e.g., sales and product teams) in marketing thought to ensure that practices reflect a unified business objective.
Example: Salesforce’s marketing thought integrates customer success at every touchpoint. Their practice of hosting Dreamforce events reflects their strategy of building a community and ecosystem around the brand. - Continuous Learning: Integrating feedback from marketing practices into future strategies ensures a cycle of improvement.
Example: Amazon constantly refines its marketing thought based on customer feedback from its practices, improving product recommendations and delivery services over time.
Conclusion
In this ever-changing and dynamic environment, success hinges on balancing thought and practice. Thought provides the roadmap, while practice brings the vision to life. By uniting them, businesses can not only craft compelling campaigns but also adapt to an ever-changing landscape—maximizing both their short-term actions and long-term strategies.