What is Marketing

Expert Advice
Depositphotos_158555578_l-2015.jpg

Many people confuse marketing with advertising and promotion and whilst these are two elements of marketing, there are many more elements to it. Marketing is the process of creating a business and product that appeals to a target consumer and then getting that customer to buy your product. Marketing involves market research, analysis, and understanding your ideal customer's interests, needs and wants. Marketing relates to all aspects of your business, including product development, pricing, merchandising, distribution methods, sales, and promotion. The marketing process is fundamental to the business performance because it addresses the most important aspects of the market. It ensures that a business reaches the right consumers with the right product at the right price, place and time.

Marketing activity can be organised into two broad categories. The first part is identifying your customer and their needs through market research and studying consumer behaviours and then developing an effective marketing strategy. The second part is the implementation of a strategy to meet these consumer needs. The strategy will include your marketing mix, which includes product, price, process, place, promotion, people and physical evidence.