What is Marketing?
If you ask different peoples, what exactly the marketing is? then there are chances that you will get n number of definitions. Marketing is such a huge & vast field. It is the transaction between two parties namely buyer & seller whose ultimate aim is to satisfy their unmet needs.
Marketing is the process of identifying the customer’s needs by planning & executing processes & ideas to satisfy customer’s & organizational goals. Pricing, Sales promotion, & distribution of goods & services are processes involved in marketing.
For today’s business, what was in practice yesterday is out of fashion today. What is in practice today will not be in continued tomorrow. A firm which doesn’t change their marketing activity & adjust themselves to market trends will go out of business in no time.
A young boy trying to pursue his mother to buy him candy. A politician trying to convince people to cast their vote in his favor. A person trying to pursue an employer to hire him are all participating marketing. In a more formal set up, business & non- business organization are also involved in marketing. Goods & Services, A place, an idea, an individual or even cause can be marketed.
Difference between Marketing & Selling:
There is a big difference between Marketing & Selling. Selling is the process of delivering product or service communication effectively to end customers. Whereas marketing is the brain involved in designing that communication. The aim of marketing is to support the selling process by adding value to the product or service communication. In the end, the Sales & Marketing department goes hand in hand with the common objective of satisfying the customer’s needs. Selling involves direct interaction with customers & making them convince to use the product. Marketing involves need identification, idea creation & creating strategies to aid the selling process easier.
Significance of Marketing:
Marketing is revolving around Product, Services & Customers. A good marketer used different strategies & approaches to satisfy customer needs. Whereby it creates a win-win situation for both organization & customers. The seller sells the product & gain the profit & the buyer on the purchase of product experience satisfaction.
Although the concept of Marketing evolved after the industrial revolution. The change in businesses in terms of adapting to the concept came slowly & steadily. It took many years for the business organization to realize that customer need satisfaction is key for making sales & generating more profit. Businesses have gone through different phases & stages of marketing over the years. In today’s scenario, Digital Marketing is evolving with very rapid speed, almost every business transaction is moving towards digital media. A day is not any longer where all our business transactions will transform to strengthen & fasten the business process.
You can also Check our other articles: