What is Marketing?
Though we deal with it every day and are subjected to it whether we like it or not, some of you might still be wondering “what is marketing”? The simplest way to explain it is that marketing is the action, process or business of promoting products and services. It is a way through which a business or vendor express and communicate to their customers or possible customers the value of the product or service they are selling. Marketing is supposed to be a means through which both seller and buyer are favored, both having something to gain from it. One could even say that marketing has been in existence almost since the creation of organized society and people started trading between each other, each one promoting his own product as being valuable and worthy of trade with whatever the other person is offering.
If you are still wondering what is marketing, we will deepen the subject a bit more. Marketing can also be known as Advertising, though you could also say that the first contains the latter. Socially, marketing is the connection between a society’s material needs and the economic response. When asking what is marketing, one of the obvious answers is that it is supposed to satisfy the needs and demands of the population, building relationships with them and a sense of trust so that the customer is satisfied and thus inclined to come back again.
From an organizational point of view, marketing serves the function and purpose of creating and communicating the value of a service or product to the customers and to manage the company’s relationship with its customers so that it is first and foremost beneficial to the organization and the shareholders. Another aspect that should be considered when asking what is marketing is that it uses different methods and processes to find out about market demand and to correctly determine target markets for different products or services and to analyze, understand and meet consumer behavior.
Marketing can be done through five concepts and an organization and company can choose which of these concepts they want to be used for their business; they are: the product concept, the production concept, the marketing concept, the selling concept and the holistic marketing concept. For a business to be successful, it must achieve the following things through marketing means: it must connect and form a relationship with its customers so, build a strong brand for their product or service, they must capture marketing insights and to develop long-term marketing strategies to help them be in continual growth and to maintain the interest of the customer.