What is Marketing?

hi there,

Marketing is the study and management of exchange relationships.The American Marketing Association has defined marketing as "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."

The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior.

The four Ps of marketing are:
Product – The first of the Four Ps of marketing is product. A product can be either a tangible good or an intangible service that fulfills a need or want of consumers. Whether you sell custom pallets and wood products or provide luxury accommodations, it’s imperative that you have a clear grasp of exactly what your product is and what makes it unique before you can successfully market it.

Price – Once a concrete understanding of the product offering is established we can start making some pricing decisions. Price determinations will impact profit margins, supply, demand and marketing strategy. Similar (in concept) products and brands may need to be positioned differently based on varying price points, while price elasticity considerations may influence our next two Ps.

Promotion – We’ve got a product and a price now it’s time to promote it. Promotion looks at the many ways marketing agencies disseminate relevant product information to consumers and differentiate a particular product or service. Promotion includes elements like: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well positioned brand to truly maximize return on investment.

Place – Often you will hear marketers saying that marketing is about putting the right product, at the right price, at the right place, at the right time. It’s critical then, to evaluate what the ideal locations are to convert potential clients into actual clients. Today, even in situations where the actual transaction doesn’t happen on the web, the initial place potential clients are engaged and converted is online.

Hi,
That is a great question....here is the Wiki answer:
Marketing is about communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand. The oldest – and perhaps simplest and most natural form of marketing – is 'word of mouth' (WOM) marketing, in which consumers convey their experiences of a product, service or brand in their day-to-day communications with others. These communications can of course be either positive or negative. In recent times, the internet has provided a platform for mass, electronic WOM marketing (e-WOM), with consumers actively engaged in review, rating on goods and services.

In business, marketing can mean a lot of different things...especially nowadays with social media and the internet. The purpose of marketing is hopefully a positive message but as we see with politicians during election times, there is negative marketing as well. So basically marketing is conveying a message.
Marketing as a career can mean a lot of different things as well...it can be advertising, creating ads for media, sales, creating marketing plans on where and how to convey a message about your company/agencies product or service. Social media marketing is a huge field these days...creating a positive online presenence for your company, product or service.
Hope this helps.

Marketing is the study and management of exchange relationships.[1][2] The American Marketing Association has defined marketing as "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." [3]

The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior.

I will answer from 2 perspectives - with MS Electrical Engineering degree and working in high tech companies for past decades.

i had affinity for marketing, sales and always had career aspirations to run the business, start my own startup. Marketing - strategic, product - was very important role/job for me. understanding technology, to be able to define next product and properly position for customers, to define value proposition versus competition - is part of Marketing.

Marketing is broad field...

The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
(1) identification, selection and development of a product,

(2) determination of its price,

(3) selection of a distribution channel to reach the customer's place, and

(4) development and implementation of a promotional strategy.

For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold.
In order to promote the device, the company featured its debut at tech events and is highly advertised on the web and on television.
Marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's retired professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariable does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse and satisfy customer needs." In other words, marketing has less to do with getting customers to pay for your product as it does developing a demand for that product and fulfilling the customer's needs.

Hi Makenna

In simple terms Marketing is meeting the needs and wants of a consumer.
Marketing is building your brand, convincing people that your brand (meaning your product/service/company) is the best and protecting the relationships you build with your customers.

Marketing is the tool that people and businesses use to demonstrate value to a target audience. Your target audience is the group of people that you want to pay attention to your product or service. A target audience is usually customers who buy goods or services, but if you are a job seeker, your target audience is the group of employers you are contacting for work. When it comes to business, marketing consists of four areas called the "marketing mix", or the "four P's".

Product - The most important part of the marketing mix because if what you are selling is no good, the rest of the mix is irrelevant.

Price - How much does your service or goods cost you to produce? How much do you need to charge customers in order to break even or
make a profit? How much are customers willing to pay?

Place - In order for customers to receive the good or service purchased, there has to be some point of contact or place where the business and consumer connect. This can be online, via mail order catalog, phone orders, or good ol' brick-and-mortar stores (which are apparently
making a comeback, since Amazon opened one).

Promotion - This may seem just like advertising, but there's more to it than that. It is about making customers aware of the value of the product a business is trying to sell. If the customer does not see value in the purchase, he/she will not buy it.

Marketing obviously covers a broad range of areas, but what it boils down to is this: figuring out what your customers want so that you can build your company and make money.

Hello there,

According to me, marketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing. The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensuring profitability.
The four P's of marketing are product, place, price and promotion.

Product refers to an item or items a business intends to sell. When examining a product, questions should be asked such as, what product is being sold? What differentiates the product from its competitors? Can the product be marketed with a secondary product? And are there substitute products in the market?

Price refers to how much the product is likely to cost. When establishing price, considerations needs to be given to cost the unit cost price, marketing costs and distribution expenses.

Place refers to distribution of the product. Key considerations include whether the product is going to be sold through a physical store front, online or made available through both distribution channels?

Finally, promotion refers to the integrated marketing communications campaign. Promotional activities may include advertising, personal selling, sales promotions, public relations, direct marketing, sponsorship and guerrilla marketing. Promotions are likely to vary being dependent on what stage of product life cycle the product is currently in. Marketers must be aware that consumers associate a product’s price and distribution with its quality, and would be prudent to take this into account when devising the overall marketing strategy.

Read more: Marketing Definition | Investopedia http://www.investopedia.com/terms/m/marketing.asp#ixzz4O9FPUcsn
Follow us: Investopedia on FacebookMarketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing. The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensuring profitability.
The four P's of marketing are product, place, price and promotion.

Product refers to an item or items a business intends to sell. When examining a product, questions should be asked such as, what product is being sold? What differentiates the product from its competitors? Can the product be marketed with a secondary product? And are there substitute products in the market?

Price refers to how much the product is likely to cost. When establishing price, considerations needs to be given to cost the unit cost price, marketing costs and distribution expenses.

Place refers to distribution of the product. Key considerations include whether the product is going to be sold through a physical store front, online or made available through both distribution channels?

Finally, promotion refers to the integrated marketing communications campaign. Promotional activities may include advertising, personal selling, sales promotions, public relations, direct marketing, sponsorship and guerrilla marketing. Promotions are likely to vary being dependent on what stage of product life cycle the product is currently in. Marketers must be aware that consumers associate a product’s price and distribution with its quality, and would be prudent to take this into account when devising the overall marketing strategy.

Marketing is the study and management of exchange relationships.The American Marketing Association has defined marketing as "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."

The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior.

From a societal point of view, marketing provides the link between a society's material requirements and its economic patterns of response. This way marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships.

In the case of nonprofit organization marketing, the aim is to deliver a message about the organization's services to the applicable audience. Governments often employ marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens

Refer to the link : https://en.wikipedia.org/wiki/Marketing

Marketing is the study and management of exchange relationships. The American Marketing Association has defined marketing as "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."

The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior.

From a societal point of view, marketing provides the link between a society's material requirements and its economic patterns of response. This way marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships.

In the case of nonprofit organization marketing, the aim is to deliver a message about the organization's services to the applicable audience. Governments often employ marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens.

Marketing is a very challenging and rewarding field. I would recommend spending a year or two in sales in addition to whatever marketing training you get to really understand the give and take that happens in the trenches working directly with the customer. It will provide you with invaluable experience that will serve you the rest of your career.

Marketing is the study and management of exchange relationships.[1][2] The American Marketing Association has defined marketing as "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." [3]

The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior.

From a societal point of view, marketing provides the link between a society's material requirements and its economic patterns of response. This way marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships.

In the case of nonprofit organization marketing, the aim is to deliver a message about the organization's services to the applicable audience. Governments often employ marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens.

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. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.

Marketing is often performed by a department within the organization. This is both good and bad. It’s good because it unites a group of trained people who focus on the marketing task. It’s bad because marketing activities should not be carried out in a single department but they should be manifest in all the activities of the organization.

Interesting question. Many people have many different views. It used to be about the 4 or 7 P's - see here

https://en.wikipedia.org/wiki/Marketing_mix

Now - have a think about something like the "Modern Marketing Manifesto" from Econsultancy.com

https://econsultancy.com/blog/62574-introducing-the-modern-marketing-manifesto/

Have fun exploring the hundreds of other definitions via Google!!! :-)

Marketing is the study and management of exchange relationships.[1][2] The American Marketing Association has defined marketing as "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.

Marketing is the art and science of changing people's minds. You can affect a wide range of things, from helping people become aware of a brand for the first time to re-framing how they view it based on past impressions.

It's a wonderful arena, where no two days are the same. It's always be around as an industry, and it attracts some of the brightest and most fun people - so come join the fun!

The action or business of promoting and selling products or services, including market research and advertising.
Marketing is the art of telling a story to a consumer that they want to hear that lets them persuade themselves that they want to buy something.

http://www.businessdictionary.com/definition/marketing.html

Effective marketing is essential to the success of every organization. In fact, anyone who is offering a product or service will benefit from having a marketing brain on their team. Formerly taught as a supplemental module to a business degree, marketing is now taught at universities as a discipline in its own right.

Ever found yourself looking at an advertising campaign and thinking you could do better? Regularly get excited about the latest social media innovations? Pride yourself on your strong communication skills, especially when it comes to persuasion? Then marketing degrees could be for you.

The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
(1) identification, selection and development of a product,

(2) determination of its price,

(3) selection of a distribution channel to reach the customer's place, and

(4) development and implementation of a promotional strategy.

For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold.

Marketing comes in a wide variety of flavors based on audience, media platform and business in today’s evolving and dynamic marketplace.
Marketing is traditionally the means by which an organization communicates to, connects with, and engages its target audience to convey the value of and ultimately sell its products and services. However, since the emergence of digital media, in particular social media and technology innovations, it has increasingly become more about companies building deeper, more meaningful and lasting relationships with the people that they want to buy their products and services.