The essence of marketing – definition

The shortest definition of marketing is: "meeting needs while making a profit." The essence of marketing according to Philip Kotler is the process of planning and implementing the concept, setting prices, promoting and distributing products, services and ideas in order to create an exchange that meets the goals of both the individual and the organization. The essence of marketing therefore includes a whole range of activities thanks to which the company can reach recipients with its offer and information about its offer.

According to the definition of the AMA (American Marketing Association), the essence of marketing includes all activities aimed at creating, communicating and delivering products that have value for the customer. The purpose of marketing is to provide information about the company's activities and the products it offers.

The essence of marketing includes issues such as:

• taking advantage of market opportunities,
• accurate determination of customer needs,
• developing a strategy for distributing knowledge about the offer,
• preparation of an appropriate pricing strategy,
• maintaining communication with the market and building long-term relationships.

The essence of marketing – interesting facts

Marketing is part science and part art. The essence of marketing is contained in a specific action strategy that determines how a given company intends to achieve its business goals. There is no clear answer as to which marketing strategy is the most effective. The effects depend on both the market and industry in which a given company operates, the specificity of the target group, and the company's resources, including the amount of the investment budget.

Today's marketing uses both the achievements of science, which facilitate access to data enabling comprehensive analyses, and the possibilities of broadly understood art, which allows you to create a world and messages that escape all limitations. Marketing is also a way of managing material and intangible resources and a specific philosophy of how a company operates.

The essence of marketing – information worth knowing

Effective marketing leads to the development of the company. It focuses on implementing solutions that satisfy both the company and its customers. The essence of marketing therefore includes both a proper understanding of the needs of both groups, as well as the knowledge and ability to use specific tools that help meet them.

Marketing appeared in ancient times, with the development of trade. The following years brought new methods and tools that could be used to reach a wider audience. The development of the media and the universality of the Internet have led to a real marketing revolution, opening the market to the whole world. In addition, new technologies have enabled the use of advanced tools enabling data collection, targeting and the creation of fully personalized messages.

The development of marketing resulted in the outline of basic marketing instruments, the so-called marketing mix, which consists of: product, price, distribution and promotion. Over time, the concept was expanded to include additional elements: people, material evidence and process. There is also another concept of marketing instruments, in which the essence of marketing comes down to: customer, costs, convenience of purchase, content, communication, community and personalization.

The essence of marketing – summary

The essence of marketing includes a whole range of activities undertaken to define and meet the needs and expectations of consumers. It includes comprehensive market analysis, identification of target groups, as well as planning and implementation of specific action strategies aimed at finalizing the sales process.

Marketing is a multi-level process. It is not only the art of creating advertisements, but a comprehensive strategy based on the real needs of a given target group. The essence of marketing is the achievement of specific goals, including: increasing sales, increasing income, building a positive image of the company, increasing brand recognition on the market and maintaining appropriate relationships with the environment, including customers.

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