Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “meeting needs profitably.”
Marketing is 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.
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Marketers market 10 main types of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas. * Physical goods constitute the bulk of most countries’ production and marketing efforts. * As economies advance, a growing proportion of their activities focuses on the production of services. * Marketers promote time-based events, such as major trade shows, artistic performances, and company anniversaries. * By orchestrating several services and goods, a firm can create, stage, and market experiences. * Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals all get help from celebrity marketers. * Cities, states, regions, and whole nations compete to attract tourists, residents, factories, and company headquarters. * Properties are intangible rights of ownership to either real property (real estate) or financial property (stocks and bonds). * Organizations work to build a strong, favorable, and unique image in the minds of their target publics. * The production, packaging, and distribution of information are major industries. * Every market offering includes a basic idea.
A marketer is someone who seeks a response—attention, a purchase, a vote, a donation—from another party, called the prospect.
Eight