What is marketing?

Marketing

There are lots of explanations about marketing in web, textbooks and educational institutions. In my point of view “Marketing is the practice of exploring and analyzing the customer’s needs and want, then modifying the promotion of the products or services to meet those needs and wants.” So its focus on the interest of customer, rather than the business, and this is a very important difference.  Every business needs customers to survive or stay alive.

Conditions of Marketing:

• At least two parties
• Each has something to offer
• Must be able to communicate
• Must be able to deliver
• Parties must be free to accept or reject offers

Good marketing helps you to inspect all features of the business and think about how they affect the perception your customers have of the business.  The following alternatives of marketing definition have been offered by various authors:

• “The management process responsible for identifying, anticipating and satisfying customer requirements profitably” (Shaw, 2007, p.1).
• “An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders” (Ferrell and Hartline, 2010, p.8).

http://www.slideshare.net/onemarketing/what-is-marketing-21825964 

In short, marketing is the Attraction, Adaptation and Maintenance of a Customer. Although marketing takes time, research and analysis, effective marketing can help you increase your extremity line.