Marketing is the economic process through which services or products are traded between the producer and the customer and their values established in terms of money prices. From a societal perspective, marketing is the connection between a society’s material demands and its economic patterns of response.
Marketing is the procedure for planning & executing the conception, pricing, promotion & distribution of ideas, goods & services to make exchange which fulfill individual & organisational goals. – American Marketing Association
Marketing is the management process for determining, predicting & satisfying consumer needs profitably. – Chartered Institute of Marketing.
Watch a video on What is Marketing?
Some Other Marketing Definitions
Marketing is concerned with the issue of profitably disposing of what is produced.
- Marketing starts with the recognition of a need on the part of a person and ends with the fulfillment of that need by the delivery of a functional product at the correct time, at the correct place and at a satisfactory price.
- Marketing is so fundamental that it can’t be regarded as a separate function. It is actually the entire business seen from the viewpoint of the end result, i.e., from the perspective of the customer.
- Marketing is a viewpoint, which looks at the whole business process as a highly integrated effort to find out, produce, arouse and satisfy consumer needs.
- Marketing is the delivery of a standard of living to society.
- Marketing is the means by which a business communicates to, connects with, and engages its potential customers to share the value of and eventually sell its services and goods. Having said that, since the appearance of social media and technology innovations, it has progressively become more about organizations developing deeper, more meaningful and long-term associations with the individuals who they would like to buy their goods.
- Marketing means creating a brand, persuading individuals that your brand is the best and keeping the relationships you build with your clients.
- Marketing is is the process of creating amazing experiences which connect to individuals personally and create the wish to share with others.
- Marketing is delighting a consumer to attain a profit or other pre-established objective.
- Marketing is the act of building an engaging connection with each and every individual who shows an interest in your products.
- Marketing is the process of encouraging individuals to buy our products and solutions. In marketing, we start with a plan: objectives, strategy and tactics ). It’s a process which assists organizations build relationships with potential clients and customers and helps to create unique value for them.
Marketing fulfills the desires and requirements by way of exchange processes and build lasting relationships. It is the means of conveying the value of a services or goods via positioning to consumers. Marketing can be considered as an organizational function and a group of procedures for creating, delivering and conveying value to consumers, and managing client relationships in such a way which reward the company and its investors. Marketing is the science of selecting target markets by way of market research and market segmentation, in addition to understanding consumer buying behavior and supplying better customer value.