Marketing Made Simple

HoN
Marketing is the process of communicating the value of a product or service to consumers/customers, for the purpose of selling the product or service. It is a critical business function for attracting customers.

From a societal point of view, marketing is the link between a society’s material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long term relationships. It is the process of communicating the value of a product or service through positioning to consumers/customers. Marketing can be looked at as an organizational function and a set of clever processes for creating, delivering and communicating value to consumers/customers, and managing consumer/customer relationships in ways that also benefit the organization and its shareholders. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behaviour and providing perceived as well as actual superior consumer/customer value.

Posted in Knowledge & Beyond.