Marketing

Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. It is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and providing superior customer value.

Definition

Marketing is defined by the American Marketing Association 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."

History

The concept of marketing that we now see has evolved since the start of time. Initially, marketing was just about the distribution of goods from producers to consumers. However, in the 21st century, marketing has become a key element of business strategy.

Types of Marketing

There are several types of marketing, including Digital Marketing, Social Media Marketing, Content Marketing, Email Marketing, Influencer Marketing, Affiliate Marketing, and Viral Marketing.

Marketing Mix

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Product, Price, Promotion and Place.

Marketing Strategies

Marketing strategies include all basic, short-term, and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies.

See Also

• Advertising
• Brand Management
• Market Research
• Public Relations

External Links

• American Marketing Association

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Marketing

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  Steve Jobs and Macintosh computer

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  Portrait of Josiah Wedgwood

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  Marketing Mix 4P

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  Dogon markets, Tireli, Mali 1989

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  Product life cycle