Marketing is the one function of business which involves engaging with customers more than any other business function. Successful companies are pioneers in marketing and fulfilling customer needs.
Marketing of various companies at a glance: Amazon is
the leader in online e-commerce platform by providing excellent buying
experience to customers, Facebook has more than 1 billion active users
as it has built itself into lives of customers by providing a easy medium to
connect to people, Nike is the leader in sports apparel with its
motivating ‘Just Do It’ marketing and Coca-Cola has almost world’s half
carbonated beverage drink market share with it’s ‘Taste The Feeling’ attitude.
Big companies spend hefty amount on marketing, that is how to they go from big
to huge.
People often tend to confuse marketing and advertising.
Advertising is just a byte in gigabyte of marketing. Marketing has evolved from
just advertising-informing-selling to understanding and fulfilling customer
needs. Marketing Mix’s 4P’s – Place, Product, Price and Promotion involves set
of marketing elements that companies blend together for a sound marketing
strategy.
Marketing in the words of Philip Kotler and Gary Armstrong,
“Marketing is a social and managerial process by which individuals and
organisations obtain what they need and what they want through creating and
exchanging value with others.”
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