Marketing comes in an extensive diversity of flavors based on audience, media platform and business by which individuals & groups acquired what they need & want through creating, offering & exchanging products of value with others in today’s enlarge and progressive marketplace.
In short word, marketing is the management process through which products and services move from concept to the customer. It involves the coordination of four elements that together form the Marketing Mix, also familiar as the 4 P’s of marketing:
- Promotional strategy
For example, iPhones are developed to include high applications and systems, are set at different prices depending on how much ability the customer desires, and are sold in places where other iPhone products are sold. To maintain the market, the company featured its debut at tech events and is highly advertised on the web and on television.
According to the American Marketing Association (AMA) Board of Directors, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
While the explanation of marketing varies based on perspective, marketing opportunities and problems, they commonly refer to fascinating a target market of consumers or other users to ultimately sell a product and improve understanding of marketing as a process.
Hopefully, you have understand, Marketing is based on thinking about the business in terms of customer needs and their satisfaction. Please feel free to share your own concept of marketing in our comment box below.