An Introduction To Marketing Concepts


An Introduction To Marketing Concepts

Marketing is the process by which organizations create and disseminate information to their target audiences in such a way that they are able to make informed decisions about what they purchase and/or do not purchase. Marketing refers to this act as the exchange of services or goods for money or other goods. The exchange of services or goods for money is often done through marketing research, and marketing is an essential component of advertising. It can be defined as a process by which organizations establish and create relations with their customers, coordinate with their organizational mission and goals, set standards and develop marketing programs and activities.

Marketing is an essential element of marketing. There are several methods of marketing: direct marketing, advertising through the use of mass media such as radio, television, and print media as well as online marketing. Direct marketing refers to promotional activities undertaken by consumers; on the other hand, advertising through mass media describes the use of physical space in exchange for some sort of monetary compensation. Marketing is also involved in the development of a market, which refers to the collection, preparation and distribution of information to assist marketers in identifying target markets and the sources of consumer demand.

Marketers use marketing concepts to identify potential buyers, as well as the most lucrative selling point. Marketers also use marketing concepts to influence and shape the buying behavior of consumers. Marketing involves various elements such as the identification of the objectives of the organization, establishing relevant facts and assessing the available facts, formulating the strategy, carrying out the strategy, monitoring the results, and measuring the results. The processes involved in marketing management are therefore interrelated and interdependent and there is a need for marketers to develop their knowledge on all these aspects in order to effectively manage marketing programs.