Currently, marketing is a tool that every entrepreneur should know. Undoubtedly, all companies in one way or another use that technique even without knowing it. It is nothing but performing exchanges between at least two parts so that a mutual benefit occurs.
Almost everyone has heard about marketing at some point. However, if you ask them to give a definition, some would say that it is selling and other advertising. Those who would think that marketing is the distribution of products, others believe it is related to design, packaging, etc..
One could also say that everyone is right, but not independently.
Definition of Marketing
To clarify what is Marketing, the following will indicate below some definitions:
- “It is a system total of commercial activities aimed at planning, pricing, promotion and distribution of products and services. Such system meets the needs of potential consumers."
- “It is the process internal to an organization through which you plan how to increase and satisfy the composition of demand for products and services of commercial nature. Through the creation, promotion, exchange and physical distribution of such goods or services".
- “It is to have the right product, at the right time, tailored to demand with the fairest price."
Marketing stimulates exchanges. For this to happen, there must be four conditions:
- It requires the participation of a minimum of 2 people.
- Each party must put something of value that the other party wants to own.
- Each party must be willing to give her anything of value.
- The parties must be able to communicate with each other.
From the above definitions, it shows that the marketing focuses on the wants and needs of consumers. Do what the consumer wants instead of what the company wants. However, it is much more than a set of techniques. It is a philosophy or way of working that should permeate all activities of the company.
If the marketing department finds unfulfilled desires, develop the product that meets these desires. Then communicates through proper advertising and offer it at an optimal price.