What Is Marketing? – What To Know About Marketing By Wadner Tranchant

We always read and hear about the word but what is marketing, really? If you have a product to sell or services to offer, you have to let the people know about. The more people know about your product or service, the better the chances that someone will buy what you offer. Marketing is the strategy used by companies and small businesses to drive up their sales. It is through marketing that the companies are able to attract consumers to choose their product over the others.

In a broader sense, marketing is responsible in designing the product to make it appealing to customers by using marketing tools such as pricing ad market research. Marketing is also responsible for promoting a product. This is done through several resources such as advertising, public relations and marketing communications. It is marketing that sets the price for a product and is responsible for letting the consumers know that a certain product does exist.

What is marketing as opposed to advertising and promotion? These three words are often misunderstood as one but they are actually different from each other. Advertising is the use of various media tools such as TV commercials, internet, radio air time and print media to convey your message to the public. Promotion on the other hand refers to the methods used to convey your message to the public. To promote a certain product to the public, some companies set up a display in malls; some free tastes while others join business associations for the purpose of promoting their product. On the other hand, marketing is informing your potential customers about your product or service and establishing a customer base. Marketing determines the specific group of people that will consume your product , also known as target market and finds ways to let this group know that your product or service is available.

Marketing is essentially the process of letting the consumers know about the value of your product or service with the purpose of selling them. It is the science of correctly choosing your target market through marketing tools such as market research and market segmentation. What is marketing? It is knowing and understanding the buying behavior of consumers and providing excellent customer service.

Effective marketing should be able to enable you to connect with consumers by building strong brands, molding market offerings and forming long-term growth through formulating marketing plans and strategies