My marketing textbook states there are 10 types of entities that one can market:
Physical Goods, such as groceries, automobiles, computers, and appliances
Services, such as airlines, hotels, banking, law, and healthcare
Events, such as the Super Bowl, NASCAR, and Olympics
Experiences, such as Six Flags, Disney World, and Exotic Vacations
Persons, such as celebrities, politicians, and CEOs
Places, such as Atlantic City, New York, and Las Vegas
Properties, which includes both real estate and financial properties (stocks, bonds, mutual funds)
Organizations, such as the Red Cross, and Corporate brands such as DuPont and GE
Information, such as books, and research from schools or consulting firms such as Gartner
Ideas, such as “Only You Can Prevent Forest Fires” and “Just Say No to Drugs”
Upon reading this passage in the book my immediate thought is that companies are simultaneously engaging in the marketing of multiple categories.
Take Disney for example:
- They market the Idea that Disney World is where “Dreams Come True”
- They market their Persons (characters) such as Mickey Mouse, Daffy Duck, and Goofy
- They market Disney World as a Place, or destination, for people of all ages
- They market Disney World as a memorable Experience for families
In fact, the company engages in marketing activities that span across all categories.
What I like about this categorization is that it forces one to think in multiple dimensions about what they are marketing. As shown in with the Disney example, a company is more than the products that it sells, and an effective marketing strategy will address all of the entities that are applicable to how consumers engage and perceive an organization.
While I agree that all of these entities are marketable, are there perhaps more categories that the authors’ omitted? Something to ponder…