Yes, I’ll have to accept that I completely understood the real meaning of life and the Real Purpose of our Living with Self-Confidence.
What comes to your mind while thinking about marketing?
What comes to your mind while thinking about marketing?
What Marketing is it all about?
Marketing in short is Selling Products or Services with the intention of making a profit. The one who purchases products or services is called a customer. Customers are the core of every organization’s business needs. Without customers, no company can exist for long. Marketing in a way is to SEARCH for customers in any of the many different ways to sell products or services.
There are many definitions of marketing. The better definitions are focused upon customer orientation and customer satisfaction.
- Marketing is the management of the social process by which individuals or collectively create the system for exchanging products having specific value.
- Marketing is a process of creating a customer, to keep the customer and satisfying the customer with ‘Customer’ as the focus of its activities.
- Marketing is a management process that specifies, anticipates, and satisfies customer requirements with a profit in mind.
- Marketing or selling is the exchange of goods for an agreed sum of money.
- To involve the commercial processes in promoting, selling, and distributing a product or service with the help of a manager in charge of marketing.
- We do the shopping at a market also means marketing at the Shopping Mall or supermarket.
- The Canadian business magazine describes Marketed as ‘All about Selling, advertising, and media.’
- Marketing is an integrated well-defined communication-based process through which individuals and communities discover existing and newly identified products or services.
- Marketing means buying and selling in a market. The process of promotion, distribution, and selling of a product or service, including market research and advertising.
- Marketing is the world of commercial activity where goods and services are bought and sold.
- Marketing means engaging in the commercial activities of promotion, sale, or distribution of products or services.
- Marketing means searching the customers for a particular product or service. They normally try to determine the size of the market, profitability, economics and produce a feasibility report before producing and determining the product.
- We go to the market every Sunday means to market or buy household supplies.
- Marketing means dealing in the market.
- Marketing means commercializing and making commercial, selling any product, and create business activities, so as to have commercialized their way of life.
- Marketing or a marketplace is an area in a village or city where a public mercantile establishment is set up.
- Marketing is an integrated process through which companies create value for customers and develop a strong customer relationship in order to capture value from customers in return called profit.
- Marketing means the right product or service, in the right place, at the right time, and at the right price for the right customer.
The evolution of the marketing concept was commenced a few decades ago due to overpopulation, overcapacity of similar products, and market maturity. Hence, Marketing Management became one of the major and prominent components of business and business management with the aim for any industry to remain profitable.
Due to the extreme competitive situation in any product, this term Marketing Concept has obtained tremendous value and specifies that achieving the organizational goal depends on delivering the desired customer satisfaction by understanding the needs of the target market. It further states that in order to satisfy its organizational goals and objectives, an organization should predict the needs of consumers well in advance and satisfy these needs more effectively than their competitors to remain in profit.
Thereafter, many marketing associations were formed in different countries to define and provide more impetus to value marketing concepts. They elaborated the definition in a more meaningful way to make it better appreciable and desirable.
One of the Marketing Associations in America described it as a platform for creation, communication, delivering, and evaluating product supplies having value for customers. Identify customers, satisfy them, anticipate them in the future and meet their changing needs on whom the organization depends. The customers are further stretched as partners, clients, groups, communities, and society at large. They look at marketing as a sequence of methods connected and dependent on several factors which can be sharpened and improved with innovative techniques. Ultimately and finally, it stretches on the satisfaction of customer requirements. Each staff in the organization is compelled to follow this marketing philosophy which further has an influence on the society at large. The marketing system also looks at the proper and effective interaction with customers, with a view to meet the supply and consumption needs, create an accurate and smooth distribution system, interact under difficulties and constraints and create an ethical and jovial atmosphere.
In reality and from the broader view of the final result, marketing is as well as selling. In short, the marketing concept is a philosophy that makes the customers and their satisfaction the focal point of all the business activities.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2021 Shyam Gokarn