What is Marketing?

By on November 10, 2011

Kotler defines marketing as “The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.”

In general, marketing is considered to be only selling ad advertising. But the term marketing has a much deeper meaning, and as a function, it is a gamut of sub activities, including, but not limited to selling and advertising. Modern day marketing is a vibrant function of finding, satisfying, retaining, and re-inviting customers, by way of varied activities.

Marketing as a function is applicable not only to companies, but to people as well. Every individual is performing marketing at some point in his/her life. This can be seen in a very common example in every person’s life. A guy sees a girl, and wants to woo her. He does this by:

  • Find ways to talk to her: Networking
  • Get talking to her: Communication
  • Project a good image of himself to her: Branding
  • Attract her: Advertising
  • Knows what she is and how she reacts to situations: Understanding consumer behaviour
  • Make her like him: Conversion and Sale
  • Make her stay with him for life: Retention and loyalty
This as it can be seen is not just a list of independent activities. These activities only when interrelated, create true value. If a name has to be given to the group of activities put together, it would be called Marketing.

About Arvind R

Arvind believes that “Marketing is a function, inherent in every human being. A post graduate in Retail Management, he has worked with retail companies like Shoppers Stop and Spar, before venturing out on his own, and now is a successful entrepreneur running a manufacturing business. Click here to know more about him.