What is Marketing?
- Marketing is about identifying and meeting human and social needs in a way that harmonizes with the goals of the organization.
- Marketing management is the art and science of choosing target markets and getting, keeping, and gr customers through creating, delivering, and communicating superior customer value.
- Managers sometimes think of marketing as "the art of selling products," and many people surprised when they hear that selling is not the most important part of marketing.
- Selling is tip of the marketing iceberg.
WHAT IS MARKETED?
Marketing is ubiquitous- it permeates all aspects of the society. Specifically, marketing typical, involves 10 dillerent domains goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. Let's take a quick look at these categories.
- Goods: Physical goods constitute the bulk of most countries production and marketing effort.
- Services: As economies advance, a growing proportion of their activities focus on the production of services. Services include the offerings of airlines, hotels, car rental firms, barbers and beauticians, maintenance and repair people, accountants, bankers, lawyers, engineers, doctors, software programmers, and management consultants. Many market offerings mix goods and services, such as a fast-food meal.
- Events: Marketers promote time-based events, including major trade shows, artistic performances, and company anniversaries. Global sporting events such as the Olympics and the World Cup are promoted aggressively to companies and fans. Local events include craft fairs, bookstore readings, and farmers' markets.
- Experiences: By orchestrating several services and goods, a firm can create, stage, and market experiences. Walt Disney World's Magic Kingdom lets customers visit a fairy kingdom, a pirate ship, or a haunted house. Customized experiences include a week at a baseball camp with retired baseball greats, a four-day rock-and-roll fantasy camp, and a climb up Mount Everest.
- Persons: Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals often get help from marketers. Many athletes and entertainers have done a masterful job of marketing themselves cricket star Virat Kohli, Bollywood superstar Amitabh Bachchan, celebrity chef Sanjeev Kapoor and Olympic medal winner P V Sindhu. Management consultant Tom Peters, himself a master at self-branding, has advised each person to become a "brand",
- Places: Cities, states, regions, and whole nations compete to attract tourists, residents, factories, and company headquarters.12 Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. One of the great example is Gujarat state. Amitabh Bachchan is a Bollywood superstar and many successful films completed. Amitabh Bachchan in a Gujarat tourism very popular sentence, “Kuch Din, to Gujaro Gujarat Mein”.
- Properties: Properties involve intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds). They are bought and sold, and these exchanges require marketing. Real estate agents work for property owners and sellers, or they buy and sell residential and commercial real estate. Investment companies and banks market securities to both institutional and individual investors.
- Organizations: Museums, performing-arts organizations, corporations, and nonprofits all use marketing to boost their public image and compete for audiences and funds. Some universities have created chief marketing officer (CMO) positions to better manage their school identity and image, encompassing everything from admission brochures and Twitter feeds to brand strategy.
- Information: Information is disseminated knowledge. It is produced, marketed, and distributed by TV and radio news, newspapers, the internet, think tanks, government and business entities, and schools and universities.
- Ideas: Social marketers promote such ideas as "Friends Dont Let Friends Drive Drunk and "A Mind Is a Terrible Thing to Waste." Political parties promote social causes such as gun control, tax reform, and affordable health care. As part of their corporate social responsibility activities, many organizations promote causes focused on issues such as poverty climate change, civil rights, social justice, racial discrimination, gender inequality, health care availability, and childhood obesity.