What is marketing

Marketing is the process of teaching consumers why they should choose your product or service over those of your competitors, and is a form of persuasive communication. It is made up of every process involved in moving a product or service from your business to the consumer.

Marketing includes creating the product or service concept, identifying who is likely to purchase it, promoting it, and moving it through the appropriate selling channels. There are three primary purposes of marketing:. If the objective of your business is to sell more products or services, then marketing is what helps you achieve that goal. Anything that you use to communicate with your customers in a way that persuades them to buy your products or services is marketing, including advertising, social media, coupons, sales, and even how products are displayed.

Companies must go through multiple stages of marketing to ensure their products or services are ready for selling. The four stages of marketing can also be mapped onto another popular marketing model known as the Four Ps of marketing. The four Ps in this model are product, price, promotion, and place. There are many kinds of advertising that you can use to promote your business, teach customers about your products, and generate sales. Marketing is the process of getting potential clients or customers interested in your products and services.

The keyword in this definition is " process ". Marketing involves researching, promoting, selling, and distributing your products or services. This discipline centers on the study of market and consumer behaviors and it analyzes the commercial management of companies in order to attract, acquire, and retain customers by satisfying their wants and needs and instilling brand loyalty.

The definition of marketing is the action or business of promoting and selling products or services, including market research and advertising.

Today, marketing is something that every company and organization must implement in its growth strategy. Many companies use marketing techniques to achieve their goals without even realizing it, as they work to promote themselves and increase sales of their product or service.

These days, marketing is one of the key aspects of business. People often do not know exactly what marketing is and, when asked, they define it as selling or advertising. While these answers are not wrong, they are only a part of marketing. There are many other aspects to marketing like product distribution, promotion, designing and creating materials like landing pages and social media content, improving customer experience, doing market research, establishing market segments , and much more.

Marketing is very broad and encompasses all the strategies that help a company, brand, or individual achieve their objectives. Marketing entails product development, market research, product distribution, sales strategy, public relations, and customer support.

Marketing is necessary in all stages of a business's selling journey, and it can use numerous platforms, social media channels, and teams within their organization to identify their audience, communicate to it, amplify its voice, and build brand loyalty over time. On the other hand, advertising is just one component of marketing. It's a strategic effort, usually paid for, to spread awareness of a product or service as a part of the more holistic goals outlined above.

Put simply, it's not the only method used by marketers to sell a product. Let's say a business is rolling out a brand new product and wants to create a campaign promoting that product to its customer base. This company's channels of choice are Facebook, Instagram, Google, and its company website. It uses all of these spaces to support its various campaigns every quarter and generate leads through those campaigns. To broadcast its new product launch, it publishes a downloadable product guide to its website, posts a video to Instagram demonstrating its new product, and invests in a series of sponsored search results on Google directing traffic to a new product page on its website.

The advertising took place on Instagram and Google. Instagram generally isn't an advertising channel, but when used for branding, you can develop a base of followers that's primed for a gentle product announcement every now and again. Google was definitely used for advertising in this example; the company paid for space on Google -- a program known as pay-per-click PPC -- on which to drive traffic to a specific page focused on its product. A classic online ad. Where did the marketing take place?

This was a bit of a trick question, as the marketing was the entire process. By aligning Instagram, Google, and its own website around a customer-focused initiative, the company ran a three-part marketing campaign that identified its audience, created a message for that audience, and delivered it across the industry to maximize its impact. In the 's, E Jerome McCarthy came up with the 4 Ps of marketing: product, price, place, promotion.

Let's say you come up with an idea for a product you want your business to sell. What's next? You probably won't be successful if you just start selling it. Instead, you need your marketing team to do market research and answer some critical questions: Who's your target audience? Is there market fit for this product?

What messaging will increase product sales, and on which platforms? How should your product developers modify the product to increase likelihood of success? They find the best media outlets to reach the target market.

Examples of media outlets include the internet, posters, television, radio, physical newspapers and magazines, etc. When setting the price, you should take into account how much something costs to produce and deliver.

You should also consider how much competitors are selling it for, its quality, the brand, etc. Most product prices rarely stay the same for long. Production costs may change, salaries can rise, or competitors might suddenly offer discounts or raise their prices.

You need to be aware of every factor that influences price all the time. Sales includes planning and supporting the sales team by pushing ahead with sales targets. It also involves formulating a plan as to how to reach potential and existing customers.

Salespeople aim to hit those targets. One-to-one marketing involves communicating directly with each customer. In marketing and sales, it means getting consumers to perceive your products or services in a good light. With the advent of the Internet and ad-blocking software, inbound marketing has become increasingly popular.

It involves using content — newsletters, blogs, podcasts, reviews , etc. However, today the experts are the consumers. In other words, instead of going to another page within the same site, they leave — they bounce out. The lower the bounce rate, the better. Is is a specialized skill. Executives who manage to implement an effective strategy, can take their company to the next level.

During the s and s, many Japanese business practices emerged, which later spread across the world. In some cases, engineering and marketing overlapped. For example, Kansei Engineering is engineering that is based on human emotions. Not only do Kansei developers focus on what products can do, but also on how they make consumers feel. Marketing principles are agreed-upon marketing ideas that sellers use for a successful marketing strategy.

We also refer to it as the principles of marketing. Some companies follow the 4Ps Strategy of product, price, place, and promotion. We also refer to it as the 4P Marketing Mix. Others, on the other hand, may follow the 7Ps Strategy of product, place, price, promotion, people, physical environment, and process. This video provides a very brief and easy-to-understand explanation of the basic concepts of marketing:.