Tweet

Marketing definition

Written by: Mark Gwilliam

Article Overview: Marketing is “A management activity that identifies, anticipates and satisfies customer requirements, efficiently and profitably”.

Marketing definition

How much do you know about marketing?

I come across so many business owners who simply confuse marketing with sales and focus solely on “selling”. Yes, I know that the end result is to make a sale but there’s more to selling your product or service than making a sale.

Let’s start with a definition of marketing that I have used for more years than I can remember:
Marketing is “A management activity that identifies, anticipates and satisfies customer requirements, efficiently and profitably”.

Note the words: “identifies” “anticipates”; “satisfies”; “efficiently”; and “profitably”.

Customers’ needs are anticipated and identified by undertaking marketing research and segmentation and then a marketing mix is developed to satisfy customers - efficiently and profitably.

Businesses that adopt this marketing concept, centre its activities on the needs of its potential customers. Its financial success will depend on satisfying those needs.

A marketing orientated business will develop a structure designed to identify and interpret customer needs; to create goods and services appropriate to those needs; and to persuade potential customers to purchase those goods and services.

This involves integrated marketing, i.e., using different marketing variables in a balanced and co-ordinated manner.

Additionally, all parts of the business will need to appreciate that they have an impact on the customer, and are therefore an essential part of a marketing process.

Are you ready to focus on your customers? I hope so.

Related Articles
  Success: What Does It Mean To You?
  The definition of branding
  What Does Viral Marketing Actually Mean?
  The Real Definition of Keywords
  Filling the Gap Between Generation and Conversion

Article Tags: business owners, customer needs, customer requirements, customers needs, definition of marketing, end result, financial success, integrated marketing, management activity, marketing concept, marketing mix, marketing process, marketing research, segmentation, variables



Related Forum Posts
Re: What is your Business? - We are running a Online Marketing Firm and we have some good clients to which we are offering a complete Digital Marketing strategy like Search, Mobile Marketing, Branding and Design. I think in Online Marketing company online presence can be a wining factor for the success of the company.
Re: Let’s talk about the ways of marketing your products, servic - I agree with some of the others who responded it depends on what your selling... but to answer your questions here are some of the methods I use. Forum Marketing Yahoo Answers (I need to use more of) SEO (Search Engine Optimization) Bum Marketing or Article marketing P-P-C (Pay Per Click) Marketing Online Directories Hope this helps.
Re: Using Craigslist SEO to Promote Your Website - Hi Trent, what is your definition of a link wheel and have you every had success with it? Jeff
Re: Should Evan add a "Social Media Marketing" category to the f - Hi, Online Marketing would be a great title, and having sub categories would make it even better, there would plenty of categories to choose from, Social Media, SEO, Article Marketing and yes even Affiliate Marketing to name just a few, great looking site btw Jeff, take care, Carol
Kevin's Case Study #11 - A New Forum Category? - Hi Everyone, 2009 is a new year and I'd like to create a new forum category to jazz things up! In the past, there's been some interest voiced about adding a "Social Media Marketing", "Online Marketing", "Internet Marketing" or "Online Promotion" category. I'll implement [u:1g2tv6tf]ONE[/u:1g2tv6tf] of those new categories, but can someone first tell me what the difference would be between the existing "Marketing" section and one of those new options mentioned above? Thanks


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

2011 Global Brand Trends Letter

20 MORE Must-Have Search Engine Marketing Tools

10 Reasons Your SBA Loan May Be Declined

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.