What is Marketing?

What is Marketing?

Marketing is not only restricted to selling and advertising as is perceived but is More than it advertising it identifies and satisfies customers needs. it functions revolve around wide variety and range of tasks and activities mostly termed as functions related to 4ps i.e. Product, price, place and promotion. Marketing is:
a. Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice.
b. A very simple definition of marketing is that it is the delivery of customer satisfaction at a profit.
c. Sound marketing is critical to the success of every organization.
Marketing can also be defined as process of planning and executing the conception, pricing,

promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” 

Simple Marketing System 

The concept of Marketing System brings one full circle to the concept of marketing.

Simple marketing system comprises of different actors and factors like producer/seller, product/service

something valuable to exchange in return of product/service (money), consumer/customer, communication process to have two way  communication like to provide information about product or service to customer or consumer and to have feedback in same regard from the customer. Fig presents an example of a very simple marketing system. Marketing system has following basic activities:
1) Sellers must search for buyers, identify their needs, design good products and services, set
prices for them, promote them, and store and deliver them.
2) A modern marketing system includes all of the elements necessary to bring buyers and
sellers together. This might include such activities as product development, research,
communication, distribution, pricing, and service..
3) Each of the major actors in a marketing system adds value for the next level of the system.

There is often critical interdependency among network members.
To learn more about marketing fist we should learn about some basics that are some time termed
as 4ps(Product, price, place, promotion) and some times even 6 or 7ps (Product, price, place
promotion, position, personal relations, people and profit) lets have some definitions in this regard:
• Product—what are you selling? (It might be a product or a service.)
• Price—what is your pricing strategy?
• Place or distribution—how are you distributing your product to get it into the marketplace?
• Promotion—how are you telling consumers in your target group about your product?
• Positioning—what place do you want your product to hold in the consumer’s mind?
• Personal relationships—how are you building relationships with your target consumers?
• People: public who can have impact on organization or can be affected by organization.
• Profits: the basic objective of organization that to have something valuable in return of product or service mostly it is in form of money.
Marketing assumes that it will proceed in accordance with ethical actives. It Identifies the 4
marketing variables i.e. product, price, promotion, and distribution it also states that the public, the
customer, and the client determine the marketing program. Marketing mainly emphasizes on
creating and maintaining relationships and applies for both non-profit organizations and profitoriented
businesses. Major activities that are performed in marketing process include:
Personal selling Advertising, Making products available in stores and Maintaining inventories. Any
thing like goods, services, experiences, events, persons, places, organizations, information and
ideas can be marketed to the customers in return of something of value.