"What is Marketing?" is the obvious point to start the journey in to marketing and while reading through I did come across various definitions by various people.
But almost all of them sum up to the following statement - which is marketing in a nutshell!
"Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit."
So Marketing is the process of providing goods and services to consumers by aligning with their needs and wants while making a profit in the process.
And for this to be achieved there are a certain set of factors that needs to be considered and perfected. According to Philip Kotler, those factors are;
But almost all of them sum up to the following statement - which is marketing in a nutshell!
"Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit."
So Marketing is the process of providing goods and services to consumers by aligning with their needs and wants while making a profit in the process.
And for this to be achieved there are a certain set of factors that needs to be considered and perfected. According to Philip Kotler, those factors are;
- Opportunity identification
- New product development
- Customer attraction
- Customer retention and loyalty building and
- Order fulfillment.
If a company follows these factors and improves them they are most likely to succeed in thier business.
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