Marketing is the process by which organisations develop and utilise their market position of dominance in a particular market place to bring about greater market share, competitive advantage, and enhanced corporate performance. Marketing reflects the philosophy, principles, and practice through which organisations develop and utilise the tools, processes, and human resources necessary to satisfy their clients and facilitate customer relationships. Marketing also involves the generation of awareness, the development of product or service descriptions, advertising and promotional strategies, and the creation of packaging or promotional materials. Basically, marketing is the process whereby organisations satisfy a prospective customer by satisfying their needs or wants. The marketing function in any organisation is normally exercised by one or more Marketing Service providers who are responsible for the coordination of activities that drive a business towards its defined marketing objective.
Marketing is one of the most important activities of all time. In fact it is one of the cornerstones of modern business activity. Marketing is defined by Wikipedia as “the process of promoting a product or service by using marketing research and advertising methods to gain a reputation for the product or service, and to establish a connection between the product or service and a targeted group of people”. Marketing refers to the act or process by which an organisation undertakes to actively engage its target audience to make value by creating value for the client, to attain a reputation for themselves, and to establish a connection with a targeted group of people. Therefore, marketing is a communication activity that creates value and influence.
One of the core marketing concepts is the social marketing concept. This concept is basically a set of marketing techniques that focuses on how marketing concepts can be adopted to improve the selling process by creating a positive image and by building a socially responsible marketing culture. These marketing concepts are based on the premise that each individual has a distinct set of personal attributes that can be utilised to sell a product or service. For example, there are some people that are naturally successful in persuading others to purchase a particular product or join a particular social movement, while other people may have more difficulty with this. In marketing terms, these are called the marketing attributes that a product or service needs to satisfy in order to effectively sell.
A key concept in marketing myopia is the marketing concept of the consumer consciousness. Basically, this is a concept that says that the interests of the consumers should be given priority in any marketing strategy. In other words, marketing should be thought of as being about the interests of the consumers and not about the profit motive. The marketing concept therefore encourages marketers to focus on the interests of the consumers and not on the profit motive.
Another important marketing concept is that of the selling concept. The selling concept is about the marketing research that a marketer undertakes in order to identify and determine the selling potential of a product or service. However, it should be noted that this concept is completely separate from the marketing concept. The selling concept is what drives the marketing concept and therefore, it is not possible to combine the two.
There is one very important marketing concept that every marketer should pay attention to: the selling customer orientation. It is imperative for any marketer to pay attention to what the selling customer needs. This is the concept that says that you have to look at what your customers want in order for you to be able to provide it. If you do not pay attention to what your customers want, then you will never be able to increase your sales. Therefore, in a nutshell, marketing is all about identifying your customer needs and then satisfying those needs to drive your sales.