What Is Marketing?

The field of marketing deals with the distribution of marketing communications, namely: the promotion of products or services, for the purpose of creating sales. Marketing is an important part of all economic activity. The value of marketing lies in the ability to create demand for products or services. This demand needs to be created through advertising or promotions. Marketing is an integrated set of marketing strategies and activities. Marketing is the process by which organizations satisfy customer requirements by providing goods or services to satisfy their needs.

Marketing management is also known as marketing research and is concerned with the evaluation of the marketing concept and its implementation. The concepts and goals of marketing management are to enhance the performance of production and service organizations. Marketing research determines the sources of demand, identify the characteristics of supply that can be channeled to meet the supply needs, determine methods of promotion that will be most effective, and formulate a plan for marketing activities. Marketing research thus provides the basis upon which organizations base their decisions on what products would sell well and what marketing concept would be most beneficial to their organization.

Marketing concepts include advertising, packaging, promotion, and public relations. Advertising, as the name suggests, is a way of attracting customers to a business by distributing literature or by launching a special campaign. Packaging, as the name suggests, is used to promote a product either by making it available in larger quantities or by making it more attractive. Public relations, meanwhile, deal with communicating with the public and helping consumers understand the marketing strategies and products.