Scribd
Upload
36 views

Wind Power

Marketing involves interacting with consumers to get them to purchase a product or service. It is a mixture of activities like advertising, promotion, and deciding product design that aim to satisfy customer needs and generate sales. Effective marketing identifies customer requirements through research and aims to profitably meet those needs better than competitors.

Uploaded by

Ashish Khandelwal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
36 views

Wind Power

Marketing involves interacting with consumers to get them to purchase a product or service. It is a mixture of activities like advertising, promotion, and deciding product design that aim to satisfy customer needs and generate sales. Effective marketing identifies customer requirements through research and aims to profitably meet those needs better than competitors.

Uploaded by

Ashish Khandelwal
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

What is Marketing?

Marketing is basically your interaction with your consumer. This interaction


with your consumer is done so that you can get the consumer to purchase
your product or service. Basically that is what marketing is all about, getting
the customer to purchase your product or service!

There is a tendency to confuse “marketing” with other terms like


“advertising” or “publicity” etc. However, advertising is only a small part of
marketing. Advertising is one of the ways in which you can get the
customer to purchase your product or service. There are many other ways.
Like "publicity" though newspapers will increase awareness about your
product or service and thus may get the customer to purchase your
product or service.

The point is that marketing is a mixture of all the activities of advertising,


promotion, publicity, deciding the look and feel of the product, how it will
be sold and sent to the consumer etc. All of these are the different parts of
marketing. They are not marketing.

Marketing can be thought of as a mixture of all these activities that will get
the consumer to buy your product. In fact, this gives us one of the
important terms related to marketing called "marketing mix". Marketing
mix, as stated above is a mixture of all the above stated activities designed
to get a particular set of consumers to buy your product. These terms will
be explained later in much more detail.
This article is written for small business who want to increase their customers
though marketing as well as large business who plan to target even the whole
country as their target market. Besides that, it serves as a good text, that will
give you a practical understanding of what the marketing process is all about.
The term marketing has changed and evolved over a period of time, today
marketing is based around providing continual benefits to the customer, these
benefits will be provided and a transactional exchange will take place.

The Chartered Institute of Marketing define marketing as 'The management


process responsible for identifying, anticipating and satisfying customer
requirements profitably'

If we look at this definition in more detail Marketing is a management


responsibility and should not be solely left to junior members of staff. Marketing
requires co-ordination, planning, implementation of campaigns and a competent
manager(s) with the appropriate skills to ensure success.

Marketing objectives, goals and targets have to be monitored and met, competitor
strategies analyzed, anticipated and exceeded. Through effective use of market and
marketing research an organization should be able to identify the needs and wants
of the customer and try to delivers benefits that will enhance or add to the
customers lifestyle, while at the same time ensuring that the satisfaction of these
needs results in a healthy turnover for the organization.

Philip Kotler defines marketing as 'satisfying needs and wants through an


exchange process'

Within this exchange transaction customers will only exchange what they value
(money) if they feel that their needs are being fully satisfied; clearly the greater the
benefit provided the higher transactional value an organization can charge.

You might also like