what is marketing?

What is marketing? 

what is marketing? 

The term marketing is related to business. Business experts define the term in dozens of ways. There is no comprehensive definition. People associated with each company and business can understand it on their own. It is a special management process through which products or services are sold to the customer with conscious effort. This conscious effort involves determining a product's name, packaging, demand, supply, pricing, discounts, offers, and selection of distribution channels. It also includes the development and implementation of promotional strategies.
The Collins Dictionary defines marketing as follows.

"Marketing is the systematic process of selling a product, for example determining its price, determining the areas to which it should be supplied, and how it should be advertised".

The definition of the American Marketing Association is:

"Marketing is an activity, a combination of organizations and processes in which to communicate, deliver and exchange various offers that have value for the customer and the community."
Simple marketing can only be defined as the process of telling consumers why they should buy your product or service over your competitors. It is the process of persuading someone and involves every process that transfers a product or service from your business to consumers.
Marketing refers to the part of a business that deals with the sale or purchase of a product or service. It determines what consumers want and determines how much it will cost and what the cost will be. Once the price is set, the company makes and sells it.
According to experts, marketing covers a wide area of business.

• How do you communicate
• Brand
• Designing of product
• Pricing
• Offers
• Market research
• Consumer psychology
• Advertising campaign

There are three basic purposes of marketing:

1. Getting the attention of the target market for your product.
2. Encouraging consumers to buy their products or services.
3. Providing the customer with a safe, easy, reliable process.

The goal of every business person is to sell their product as much as possible, and this goal cannot be achieved without marketing.
Every process that someone uses to sell their product to a customer is a marketing process, including advertising, social media, coupons, sales, and even how products are displayed.

The four stages of marketing.

Companies have to go through several marketing steps before marketing their products. No company can say for sure that its product is ready for sale unless it goes through the marketing process.

Ideas: Marketing starts when you think of creating or selling a product. Before introducing a product or service to the customer, you have to decide what the product will be, what the packaging will be, what the price will be, and what will be the method of sale.

Research and testing: Before you can put your business idea into practice, you should do marketing research and testing. Researchers in the field of marketing can be hired or researched from their sources to find out how much interest consumers will have in the business idea they want to generalize. You can use the products on the market as a reference for research. It can give you ideas to improve your product.
Advertising: To persuade a customer to buy a product, communication with him is very important so that he can buy your product, for which advertising is a great tool. The information you gather in your research can be used to help you build your marketing strategy and advertising campaign. Advertising campaigns can include media, events, live advertising, paid partnerships, public relations, and more. Before launching an advertising campaign, set concrete standards so that the usefulness of the campaign is kept up to date.
Sales: At this stage, you have to decide how and where to sell the product. Consumer product companies, for example, sell to wholesalers who then sell to retailers. In the industrial market, there is a different ways of buying and selling. You may want to sell your product locally or nationally, or even internationally. Nowadays, things are also being offered for sale online. Your resources, distribution, and sales channels influence who buys you and how.

The Four Ps Model of Marketing. 

The four Ps of marketing are the key factors that form the basis of marketing a good product or service. They advertise the product, the price, the place, and any good or service. Often known as the four Ps marketing mix, the four Ps are limited by internal and external factors in the overall business environment. The four Ps are closely related to each other, and they affect each other.
4 Ps are used by companies to identify some key factors for their business growth. For example, what consumers want from them,
Whether their product or service meets the needs for which it was offered, how their product or service is perceived by the public, where they stand out from their business competitors, and How they can improve their communication with their customers.

How the Four Ps Work

Product

A product is a product or service that a company offers to its customers to meet their needs. The product must meet the needs of the consumers or there should be a special feature of a product that makes the consumers understand that they need it and this creates new demand. Every product has a life cycle which is very important for marketers to understand. They must have a plan at every stage of the product's life cycle.
The type of product also determines how much it should cost, where it should be sold and how it should be sold.
Before launching a product, it is important to make sure that your product is ready for sale, and that your product (or service) will fill the market gap, meet customer needs and compete with competitors.

Price

Refers to the price that consumers pay for a product. Marketers should link prices to the actual price of the product but also the price of supply, seasonal rebates, government taxes, and prices of competitive products. Business executives value products that are used for luxury and low prices for general needs.
Marketers keep a close eye on prices. They know when to lower the price and when to increase the price.
Sometimes lowering the price increases sales, but sometimes lower prices also give the impression that the product is less comfortable,
That's why marketers offer different types. Time is of the essence for price and offer.

Place

When a company plans to launch a product, the company also decides where it should sell the product and how to get it to market. Marketers always aim to bring the product in front of as many consumers as possible to buy it. The potential consumers are targeted based on the nature of the product. Marketers strive to have their product where their target customers approach.
Placing is an important part of the whole marketing process. Placing plays a vital role in product success.
The placement also includes the location of the product in the shopping store, its display, etc.

Promotion

Promotion means that the company conveys information about its product to its consumers through advertisements. This information tells people why they should buy this product and how it caters to their needs.
Promotion usually has two purposes
Produce leads about the product or increase product sales
For marketers, placement and promotion go hand in hand.
Following the popularity of social media, the placement of advertisements has also become important.