What is Marketed for Consumers (10 Types of Entities) (2024)

Marketing is typically seen as the task of creating, promoting and delivering goods and services to consumers and businesses. In fact, marketing involves ten types of entities: goods, services, experiences, events, persons, places, properties, organisations, information and ideas.

1. Goods:

Physical goods constitute the bulk of most countries’ production and marketing effort. Examples are: refrigerators, television sets, food products, machines etc.

2. Services:

As economies advance, a growing proportion of their activities is focused on the production of services. Examples are: services include the work of airlines, hotels, car rental firms, barbers, beauticians etc. and professionals such as, Accountants, bankers, lawyers, engineers, doctors etc.

3. Experiences:

By orchestrating several services and goods, a firm create, stage and market experiences. For examples: travels, climbing Mount Everest etc.

4. Events:

Marketers promote time-based events, such as trade-shows, artistic performance, Asian Games, Sport-events etc.

5. Persons:

Celebrity marketing is a major business. To-day, every major film star has an agent, a personal manager and ties to a public relations agency. For Examples, artists, musicians, physician etc.

6. Places:

Cities, states, regions and whole nations compete actively to attract tourists, factories, company headquarters and new residents. Further examples: commercial banks, local business associations, real estate agents, Economic development specialists etc.

7. Properties:

Properties are intangible rights of ownership of either real property (real estate) or financial property (stocks, bonds etc.). Properties are bought and sold, and this requires marketing.

8. Organisations:

Organisations actively work to build a strong, favourable and unique image in the minds of their target publics. Universities, museums, performing arts organisations and non-profits all use marketing to boost their public images and to compete for audiences and funds.

9. Information:

Information can be produced and marketed as a product. This is essentially what schools and universities produce and distribute at a price to parents, students and communities. For examples, magazines, encyclopaedias, news-papers etc. supply information.

10. Ideas:

Every market offering includes a basic idea. “In the factory, we make cosmetics; in the store we sell hope.” Social marketers are busy in promoting such ideas.

Marketing involves ten types of entities:

1. Goods

2. Services

3. Experiences

4. Events

5. Persons

6. Places

7. Properties

8. Organisations

9. Information

10. Ideas.