Marketing: A Concept
Marketing is a way of communicating your ideas to potential customers and convincing them that you are the solution to their problem. Marketing is similar to advertising except that marketing is designed to reach a large audience. Marketing is one of the most important aspects of business for generating sales leads as well as developing solid customer loyalty. In the business environment, marketing is a critical element which determines the success of a company’s bottom line.
Marketing involves the development of a comprehensive integrated marketing communications plan that coordinates strategic marketing activities with the sales, service, and support functions of an organization. Marketing is the process by which organizations develop and deliver value to customers. Marketing is a communication technique that creates and develops new interests in customers, shapes their buying decisions, and helps to realize customer satisfaction. Marketing is the concept of anticipating and providing a competitive edge in selling to customers by understanding their needs and expectations.
The term marketing was first used by Konstantin von Meyer in 1928 in his book Marketing Theory and the Concept of Sales. In this book he discussed four factors that are necessary for marketing success including: knowledge creation, the concept of marketing, customers needs and satisfaction, and the concept of cost effectiveness. With the rise of the internet and technology, marketing has become a much more integrated concept that encompasses all facets of selling. Marketing is an ever evolving discipline and it is important to constantly evaluate and test marketing theories to stay abreast of the current market trends.