Marketing is a tool used by organizations to promote their products and services to consumers. Marketing is the process by which organizations create and manage public relations or promotional opportunities that bring people into contact with their offerings. In the broadest sense, marketing is an exchange of information and service between an external agency and a public body or individual. Marketing refers to this process by which an organization undertakes to interact with its target consumer base, build relationships to create value for both parties to create financial gain in return, and create awareness.
Marketers use a wide variety of tools, strategies, and tactics to promote products and services of an organization to the target consumers. Marketing concepts like advertising are essential for creating visibility, attracting consumers, and enticing them to take a particular action. While advertising serves as one of the most obvious marketing concepts, other concepts are more subtle and more involved. One of the most popular and influential marketing concepts is the concept of brand management, which seeks to align a company’s consumer identity with a specific logo or tagline so that consumers will be able to recognize and associate the product with a particular business.
Other marketing concepts include market research, which is used to gather information on consumer buying habits; target marketing, which target a specific group of individuals; and societal marketing, which seek to enhance the social aspects of marketing strategies. Marketers also use marketing management tools such as surveys, market studies, and experiments. Marketers may also use market research to learn about what consumers need and want, which can help them determine what products and services to offer. Marketing also includes creative marketing strategies, which are done to attract consumers and increase their interest in buying the product or service. It may also involve creative campaigns, television commercials, magazine promotions, corporate gifts, and other forms of promotional activities.