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Today the topic is about to discuss is the most the important above all, it does not matter whether you are a student or not. It’s for everyone, that particular thing young generation studies in their course outlines, business implement in practical life. It’s the process whereof keeping and satisfying customer, the topic is “Marketing”. Marketing is the management of exchange relationships, creating a bond with the targeted audience. In a manner of defining marketing, there are various definitions related to it. According to the American Marketing Association: set of institutions and processes for creating, communicating, delivering and exchanging offers that have value for customers, clients, partners, and society at large. This is the global definition of marketing, in simple words, satisfying the needs and wants through the exchange process. Just like every other business term has some steps, marketing also does have ones, and steps help in marketing to bring the product in the market. Marketing is a vast subject, when it comes in studying it, in short, brief content, will go through some of the main aspects of marketing and will relate it to real life.
Regarding the concept of marketing, in order to accomplish organizational goals, the organization needs to fulfill the wants and needs of their potential consumers in a more efficient way than the competitors. First, we need to identify the need and wants of our targeted consumers, what they actually need to live a healthy, stable life. When their needs get fulfill they start building desire (want). They want something optional instead of having on a regular day. For example, a person is having a steak every night but now he wants a hamburger instead of steak that’s called want. After needs and wants getting fulfilled, demands come in the house. Demand is like: you are having a Chevrolet but you now demand BMW because you have the potential to become economic demands.
One of the most important ingredients in the marketing category is “Marketing Research”. Marketing Research it is conducted for the purpose of new product development or product improvement. In research, researchers study about consumer’s behavior, attitude regarding their purchase strategy. We all know consumer’s taste changes too fast that every brand hires marketing research agencies to study them, and update marketing strategies according to the situation. Every group of people has their own distinctive needs that separate products and marketing mixes. After studying consumers, researchers come up with the actual target market related to the product which helps the media planners, marketers to provide the products to their targeted audience.
In the end, marketing is basically part of our life. We do not only market brand or product in the manner of goods, but we also market ourselves as well. What do we do in the job interview? We actually market our skills, attributes, experience to the person or the company. On the above is the brief understanding of what marketing is actually is?
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