Marketing is simply the art and science of creating and promoting products and services to present a product to the consuming public in such a way as to raise its demand and sales. The art and science of marketing, therefore, is nothing but a process whereby products are presented in such a manner as to induce the customer to desire and buy them. Marketing, therefore, is an interactive process between consumers and producers of a particular product or service. Marketing is a tool used by many organizations today to advertise their products. With the increasing popularity of Internet marketing, marketers have also taken to utilizing online marketing strategies in order to effectively market their products to potential customers all over the world.
Marketing can be defined as the use of one or more tangible products to create a demand in the market for a particular item or service. Marketing is an essential and decisive element of business. The concept of marketing was developed by marketing men who studied consumer behavior. Marketing is a system of distributing information concerning a product or service so that it will be able to achieve its intended purpose. Marketing is used to reach out to customers and influence their decision to purchase a particular product or service. The marketing concept recognizes that advertising should be capable of raising awareness of the goods and services in the market, and this awareness should be maintained for as long as possible.
The concept of marketing has evolved through the ages as companies have developed products and services that have made life easier, but customers needs have changed. This has led to the need for a coordinated marketing approach by both the company and the customers. Companies have to understand their customers needs and find a way to meet them. This is one of the reasons why most businesses employ marketing concepts in their business marketing plan.
Modern marketers pay very close attention to the marketing concept. Marketing concepts for today’s market are much different from those practiced during the earlier days. In those times, marketers relied on direct personal contact to sell a product or service. The product concept involved setting up an impromptu sale. These days, the concept of marketing involves advertising a product or service through a range of media including print, electronic media, radio, and television. All these media are potential vehicles for selling a product or service.
Marketing also includes concept like branding, which is an integrated concept of marketing, selling, and advertising. Branding is the concept of creating and maintaining positive associations with consumers so that they continue to have a positive view of the products and services that are being sold. This is done by using logos, slogans, and brand design that gives a recognizable look to the products. It also makes them distinct from the competing brands.
Marketers also use other types of methods like market research, consumer surveys, and product development. Market research is conducted to find out about the general demand for a certain type of product or service. Consumer surveys allow marketers to know what consumers think about a particular product before launching it. Product development deals with developing a new product or service based on the findings of market research.