Business Marketing Definition

What is marketing? Many people think of marketing only as selling and advertising. And no wonder every day we are bombarded with television commercials, direct-mail offers, sales calls, and internet pitches. However, selling and advertising are only the tip of the marketing iceberg.

Today marketing must be understood not in the old sense of making a sale “telling and selling” but in the new sense of satisfying customer needs. If the marketer understands consumer need; develops products and services that provide superior customer value and prices. Distributes and promotes them effectively these products will sell easily in fact according to management guru Peter Drucker “The aim of marketing is to make selling unnecessary. “Selling and advertising are only part of larger” marketing mix a set of marketing tools that work together to satisfy customer needs and build customer relationships.

           

Broadly defined marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable, value-laden exchange relationships with customers. Hence we define marketing as the process by which companies create value for customers and build strong customers relationships in order to capture value from customers in return.