Marketing

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“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved  July 2013)” Source: American Marketing Association. 

Let us quickly look at others views of Meaning of Marketing, however, Climaxbox agrees with the above Definition.

Marketing is a widely used term to describe the means of communication between the company and the consumer audience. Marketing is the adaptation of the commercial activities and use of institutions by the organizations with a purpose to induce behavioral change on a short-term or permanent basis. The American Marketing Association most recently defined Marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” The techniques used in marketing include choosing target markets through market analysis and market segmentation, as well as understanding methods of influence on the consumer behavior. The marketing planning creates strategies for the company to place advertising to the dedicated consumer.

From a societal point of view, marketing provides the link between a society’s material requirements and its economic patterns of response. This way marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships.

In the case of nonprofit organization marketing, the aim is to increase the deliver an ethos message about the organization’s services to the applicable audience. Governments often employ marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens.

Types of Marketing Definition

Social Definition

“Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others”

Managerial Definition

“Marketing is part of selling. Marketing is not just selling. Selling is only the tip of the iceberg!”

Peter Drucker’s Version

“The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.”

American Management Association’s Version

“Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.”

Philip Kotler’s Version

“Marketing is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.”

Wikipedia’s Version

“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

Marketing is about communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand

Crazy Mirchi’s Version

“Marketing is an act of decreasing the gap between the customer’s needs and products available in the market”

 

 

Climaxbox is an Internet Company in Nigeria, Providing Internet Consulting services while Funding/Managing a Team of Engineers and Marketers to develop and sell software for Marketing Automation and Customer Solutions. Follow us on Facebook for more insight on how to improve your Business Sales

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