What is Marketing?
Before you learn more about marketing , you should first understand what marketing is, because marketing topic is so wide. Keeping that in consideration I have tried to explain “What is marketing”? in very simple words. Hopefully you will get your all answers here.
Marketing is wide range of activities, which make sure that you’re continuing to meet the needs of your customers. And are getting appropriate value in return.
Philip Kotler, Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential.
“In Simple What I feel marketing is all about creating awareness in the market about the product with the help of different marketing tools”.
Some of the Marketing Tools.
Hope you have understand the meaning of Marketing? Here are some of the below mntion tools which is used for marketing.
- Advertising and promotions, (focused on the product).
- Public and media relations, (focused on the entire organization).
- Customer service.
- Customer satisfaction.
- Market Research.
- After sales service,(Very Important).
Market Research to Find Out:
- Understand your potential, targeted customers/clients.
- Understand the need of your targeted audience.
- Design a product accordingly to meet the needs of customers.
- Nonprofits might think in terms of outcomes or changes, to accomplish among the groups of clients in order to meet the needs.
- How each of the target markets might choose to access the product, etc. (its “packaging”).
- How much the customers might be willing pay and how (pricing analysis).
- Who are the competitors, (competitor analysis).
- How to design and describe the product in such way that customers should buy from the your organization, rather than from its competitors (its unique value proposition).
- How the product should be identified ,its personality (its branding).
ALSO SEE: Reasons for Marketing!!