The Meaning of 'Marketing' and Insights - K. Bit

The Meaning of 'Marketing' and Insights - K. Bit - Business and Marketing

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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