What is Marketing?
Marketing is defined by the American Marketing Association as
“the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
Let me take you through an example to make it easy to understand the concept of marketing;
You have opened a burger shop in your area, you invested let’s say $ 10000. You provide good quality food with amazing quantity but your expenses are increasing but you are getting no profits.
You know that it may take time to make some bucks. But! But how will you until people know about your existence in the area.
So here comes marketing, you have to let people know about your existence.
Well, create the content of your marketing, like any attractive or catchy punchline, e.g:
McDonalds! i’m lovin’ it.
KFC! it’s finger lickin’ good.
Subway! Eat fresh.
Hardees! Eat Like you mean it.
Now here comes logo which should contain all the meaning of your brand.
Marketing is communication between you and your customers. You communicate your stuff through deals, offers etc.
Tagline and Logo is the form of communication.
See, you call someone and tells him/her things which the other person is not aware of, Marketing concept is the same thing you calling someone and sharing.
Means of communicating in marketing could be different;
- Social Media
- Event promotion
- D2D (Door to Door Campaigns)
- Many others.
Finally it is time to deliver what you communicate, if customer walks in by knowing deals he was offered but he does not get what he expects, he might not visit again.
If you fail at delivery to one customer, it means you have lost other 9 customers.
So delivery of promised things in marketing is very important.
In short you can say marketing is just an announcement of products and services you have to offer.