Marketing is the social and managerial process to understand the customer need and wants in order to develop the right products and services for customers. Marketing function is still under research lots more to come in future to assist and mature the marketing process and add more branches under the umbrella of marketing.
The presence of marketing is everywhere on newspapers, Bouchers, advertising, TV ads, Internet, Calls, SMS it go on and on but this is the fact marketing domain is penetrated with speed all over the world including top economies like USA,China and weak economies like Afghanistan, Pakistan and Zimbabwe.
The beauty of marketing that it offer lot of flexibility to marketers and marketing manager in decision making, marketing is the combination of process and intuitive thinking. The innovative ideas in marketing make the difference and provide competitive edge to the companies to promote their products in a better way as compared to their competitors.
People often think that marketing is all about advertising and selling out products but that’s not the case these are just small chunks of marketing or branches of marketing.Marketing is not a norm or fashion now it become need of every organization whether it big like Microsoft or a small shop. Marketing is the way of communication which Organization adopt to get to know about customer needs and wants and finds the solution in the form of product or services to fulfill need and wants of customers.
Some people perception about marketing is not good, they think marketing is about to make people fool. This wrong perception build by organization not fulfilling the promise what they communicated to customer. Marketing gurus always says promise what you can do, fake premises to selling the product will drive the organization towards dead end.The simple rule is if you promise less and give more to customers then they will be happy and satisfied on the other hand promise more and giving less will disappoint the customers.
Marketing have four pillars or you can say for wheels which drive the car of marketing known as 4Ps of marketing product,price,place and promotion. The best combination of 4Ps will make the best recipe for the customer results in win-win situation for both customers and organization.
Organization like Wal-Mart achieve best results from marketing, the key of their success they do what they promise to customers “Always at lower prices”. The other giant companies like Coca Cola, Microsoft, Dell, Sony enjoying the great results from marketing.
Marketing Definitions
Marketing is defined by different school of thoughts in different way lets go through each definition one by one.
Kotler
Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
The Chartered Institute of Marketing (CIM)