20/07/2024

Enterpreneur

The Entrepreneur Style

Definition for Marketing – WHAT is MARKETING ?

Definition for Marketing – WHAT is MARKETING ?

Let’s play, when I ask “What is your definition for marketing?” what will you answer? I think that you will say that marketing is selling a product or group of products to a particular customer or group of customers. What if I say that your definition for marketing is not precise? Will you think that I’m crazy?

People always perceive that marketing is a synonym of selling. It is not actually. Selling is only a part of the intricate marketing processes that a marketer should go through. Marketing starts in analyzing the situation of a particular market through research, the effect of these situations in a business, the probable products, prospects and marketing channels and their evaluation, and the control and implementation process.

In marketing, you have to set the right 4 P s. These are price, promotion, product and place. The price is the appropriate price of the product considering factors like the purchasing power of your prospects.

The product is what the marketer sees as lacking in the community he would like to do business with. Promotion is the kind of advertising that the marketer should utilize in order to reach his/her target audience cost-effectively. Lastly, place is the channels wherein the product should be distributed. In this, the marketer should place into consideration the accessibility of the product to the target market and the convenience that the prospect can generate when he plan to acquire the product.

Definition of marketing has also evolved through time. From the simple concept of product oriented marketing in which the focus of the creation and advertising of the product is the attributes of the product itself and the marketer assumes that the target market will buy the product because of its feature. Then it has revolved into the consumer-oriented definition for marketing wherein the product is created based on the needs and wants and what’s lacking in the life of the target market.

The advertisements centered on how the product will be useful for the customer and how the product fits in, in the lifestyle of the target market. Then now, another form of marketing has breakthrough. This is the societal concept of marketing which is the same as its predecessor with a twist. The twist is that the product should cause no harm into the society and the marketer should be responsible on the damage that it will give (if there is any). It is a matter of societal responsibility definition for marketing.

A number of definitions for marketing are available in the Net right now. Just check out the sites of free dictionaries or free encyclopedias. It all promises a quick way on giving you a hint on how other people define the word marketing.