Marketing is all around us. We can see examples of marketing in the products we buy, in the services we use, in the places where we shop and in the businesses with which we trade. Marketing is at the heart of any business activity and deals with creating and keeping customers. Customers are essential for any business. Without a customer, there is no business. Business success or failures depend on its ability to satisfy consumers. The desired effect in marketing is reaching potential customers.
Ask people what comes to their mind when they hear the word marketing and most will say “selling” or “advertising” or some other word having to do with “manipulation” or “persuading” consumers.
When it comes to marketing common people have a tendency to bring “sales and marketing” together, thinking of them as identical. However, this is not the case. Successful entrepreneurs realize that marketing means much more than selling, or advertising.
So what is marketing? Marketing is both a concept dedicated to meeting customer requirements and a range of marketing techniques which enables the company to determine those requirements and ensure they are met.
Marketing is the part of a business where money is made. Marketing is the management process responsible for identifying market awareness, anticipating, and satisfying consumers’ requirements profitably. It is the process of planning and performing the pricing, promotion, and distribution of ideas, goods, and services to create exchanges that attain individual and organizational goals. It is a completely separate business function that helps entrepreneurs put their products and services correctly on the market so that sales can be more effective. Marketing includes all the business activities connected with the movement of goods and services from producers to consumers. On the one hand, marketing is made up of such activities as transporting and storing, buying and selling goods and, on the other hand,...