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WHAT IS MARKETING? DEFINITION, ADVANTAGES AND HOW IT WORKS

Marketing

Marketing is the system of researching a market, offering value and satisfying the customer with a profit motive.

This discipline, also called marketing, is responsible for studying the behavior of markets and the needs of consumers. It analyzes the commercial management of companies in order to attract, capture, retain and retain end customers through the satisfaction of their desires and resolution of their problems.

Although the English and Spanish words are mentioned here, it is true that the use of “marketing” is more widespread today throughout the world.

In this complete content we are going to detail what marketing is, the types and strategies that there are, several examples, the difference between advertising and marketing, the characteristics of a good marketer, which profiles are the most demanded today, how to develop a marketing plan and you have at your disposal several learning resources.

What is marketing?

Nowadays marketing is a strategy that every company must implement in its global plan in order to grow. Many companies use marketing techniques to achieve their goals, even without realizing it. Marketing is nothing more than the exchange between several parties, so that there is a mutual benefit.

Many people do not know exactly what marketing is and when asked they define it with what it is to sell and others that it is advertising. All the answers are true, but they are only part of what marketing means, because it can also be product distribution, packaging design or creating landing pages.

The umbrella of marketing is very broad and encompasses all those strategies that help a company, brand or person to achieve their objectives.

Other possible definitions to respond to what marketing means are:

  • “Marketing is a global system of activities related to the commercial world, aimed at planning, pricing, promoting and distributing products or services that help meet the needs of the end customer.”
  • “Marketing is the set of activities that aim to satisfy the consumer through a product or service, with a business benefit in between.”
  • “Marketing is an internal process of companies by which it is planned in advance how to increase and satisfy the demand for products and services that have a commercial purpose, through the creation, promotion and physical or digital distribution of such goods or services.”
  • “Marketing means having the right product or service at the right time, to meet the needs of the potential consumer. Adapting to the demand and the fair price that the market requires.”

One of the most interesting features of marketing is that it stimulates exchanges. It is the idea of “I give you this in exchange for this other and thus satisfy your need”, often with an economic benefit behind it. What needs to happen for this to happen?

  • In an exchange there is always a minimum of two parties, although more parties may be involved in the process.
  • It must have added value to the marketing process. The consumer seeks to cover a need or a desire, because he is always promised something to possess, with an applied value.
  • The two sides must give in. For example, the company to adjust the price and the customer to adapt to the market demand.
  • Marketing is no longer a two-way communication, but there must be two-way channels. More, nowadays, in which the customer is at the center of all marketing strategies and must be able to express their ideas and opinions, and be answered.

With all this information, what can be clearly deduced is that today’s marketing focuses on the needs and desires of the consumer. It is no longer about “impacting” him or reaching him indiscriminately, but about listening to him and adapting to what he demands.

Therefore, marketing should not be understood as a grouping of techniques simply, but as a philosophy or way of working that should influence all areas of a company.

In addition, marketing and sales should not work in isolation. But they are two areas that must be understood as one and work in a very intertwined way. Because without marketing sales are not generated and without sales we can not know what are the true pain points or paintpoints of the final consumer.

The true art of marketing is not knowing how to sell, but understanding the final consumer and offering what they need at the right time of the buyer journey.

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