The Definition of Marketing
Marketing – is the process of conceptualising and creating a product or service, packaging it desirably, and placing it in front of your target market in such a way as to generate the maximum potential sales.
Marketing is far more than just promotion or advertising. By definition, selling is a part of marketing and you cannot separate sales and marketing as they are two parts of a whole.
If you look at Marketing as a complete sequence of actions it would look like this:
- Conceptualize your product (Ideas, innovation, reinvent …)
- Identify a target market (Market research, surveys …)
- Create your product (Manufacture, design, source, develop …)
- Package your product to appeal to your target market (Branding, package design, photography, graphic design …)
- Promote your product to your target market (Public Relations, Advertising, Networking, Telesales, Search Engines, Social Media, etc.)
- Close the maximum amount of sales possible (Lead generation, eCommerce, direct sales …)