Lean the definition of marketing and the meaning of its different terms and types that students and sales representatives should know.
The Definition of Marketing
A person ho has to define marketing may simply say that it is a process by which a company attracts customers for its products or services so that they buy them. If we go deep into understanding the topic however, we would see that different people define it in different ways.
Following are some of the definitions given by different people:
- Marketing is the activity by which a business entity creates interest in customers to buy their goods and services. Sales technique, business development and business communication are the underlying strategies of marketing. The companies can create value for themselves and their customers and build a strong relationship with them.
- A set of activities or practices that companies adopt for communicating delivering and exchanging products and services that have value to partners, customers clients and the general public at large.
- From the point of view of a customer, every business activity is marketing. It is not only a specialized activity but it encompasses the entire business, and it is much broader than selling.
- One of the shortest definitions you may receive is; “Marketing is everything”.
There are four main elements, namely; product, price, place and promotion (4 Ps of marketing, in short). These will normally form part of a marketing plan. At first, the selection has to do with the development of a product. The company has to decide which product it should sell to attract large numbers of customers. Secondly, the price of the product is very important to consider. The product should have the right price. The third element is the place where the sellers put up the product for sale. Finally, it is necessary for the company to do the required promotion of the products. If the company follows all four elements rightly then the business will be successful. Click one of the following links to read up on different words on this topic available here at miomarketing.com:
Different Marketing Types:
Product Marketing Definition
Digital Marketing Strategies | Goal, Lead Magnet & Action Plan
Word of Mouth Marketing
Meaning of Retail Marketing
Meaning of Online Marketing
Meaning of Mass Marketing | Undifferentiated
Brand Marketing, Application & Effectiveness
Meaning of Social Marketing | Internal & External Elements
Trade Marketing | Definition and Meaning
Define Content Marketing
Affiliate Marketing Programs
Meaning of Email Marketing and Benefits
B-2-B Marketing | Business to Business Transactions
Mobile Marketing with Features.
Different Marketing Terms:
Marketing Campaign Types & Techniques
Definition of Marketing Management
Marketing Process Definition
Market Segmentation Strategies
Marketing Information System Definition
Marketing Mix Definition | Price, Product, Promotion & Place
Different Types of Marketing Channels
Integrated Market Communications
Market Research Definition & Role
Different Types of Marketing Strategies
Marketing Agency Definition
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