What image comes to mind when you hear the word “marketing”? Some people think of advertisements or brochures, while others think of public relations (for instance, arranging for clients to appear on TV talk shows). The truth is, all of these—and many more things—make up the field of marketing. The Knowledge Exchange Business Encyclopedia defines marketing as “planning and executing the strategy involved in moving a good or service from producer to consumer.” With this definition in mind, it’s apparent that marketing and many other business activities are related in some ways. In simplified terms, marketers and others help move goods and services through the creation and production process; at that point, marketers help move the goods and services to consumers. But the connection goes even further: Marketing can have a significant impact on all areas of the business and vice versa.
Marketing: It is the process of creating consumer value in the form of goods, services, or ideas
that can improve the consumer’s life.
Marketing is the organizational function charged with defining customer targets and the best way
to satisfy needs and wants competitively and profitably. Since consumers and business buyers face
an abundance of suppliers seeking to satisfy their everyday need, companies and nonprofit
organizations cannot survive today by simply doing a good job. They must do an excellent job if
they are to remain in the increasingly competitive global marketplace. This is what we say that
survival of the fittest. Many studies have demonstrated that the key to profitable performance is to
know and satisfy target customers with competitively superior offers. This process takes place
today in an increasingly global, technical, and competitive environment.
What is Marketing?
Marketing is not only restricted to selling and advertising as is perceived but is More than it advertising it identifies and satisfies customers needs. it functions revolve around wide variety and range of tasks and
activities mostly termed as functions related to 4ps i.e. Product, price, place and promotion.
Marketing is:
a. Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice.
b. A very simple definition of marketing is that it is the delivery of customer satisfaction at a profit.
c. Sound marketing is critical to the success of every organization.
Marketing can also be defined as process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”
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Great Explanation. :)
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