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Nature of Marketing

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					This is an essay on the topic of marketing. Marketing is defined as the process of
encouraging and influencing the market through different methods. This document will
explain the nature of marketing and how a business or individual can exploit a variety of
marketing techniques to their benefit. This essay is ideal for individuals or businesses
that want to learn more about the topic and how to take advantage of different marketing
techniques.
                                      Nature of Marketing

        Marketing is defined by many literatures as the process of encouraging and influencing
the market through different methods. It can be evaluated from various viewpoints which evolve
overtime. Money makes the world go round, so does marketing as it involves money and profit.
Marketing consists of the process of understanding the consumers and developing products
and/or services that satisfies the needs and wants. People who are willing and able to buy the
products are considered to be one of the most important factors in marketing termed as market. It
is how the marketers persuade and inform people about a certain product and creates an image to
be patronized (Kotler, 2003).

In some cases, marketing is always linked to advertising but the latter is just a tool to promote a
product and/or service to gain profits. It is just part of marketing and people should put on a note
that marketing is possible without advertising. The true nature of marketing relies on the product
development, sales management, pricing and the strategy on how to reach the target market.
Also, marketing stands with the marketing mix which is composed of the product, place, price
and promotion or the so-called communication mix. These tools define the process of marketing.
They make a place for marketing and considered to be the main factors how marketing develops
in an organization. All the same, marketing starts with the creation of a product and the way you
sell it and make profit is the real nature of marketing.

Role of marketing

       All businesses are involved in marketing as it serves as the center of the business. It is
necessary for the firms to build goodwill with the customers and gain loyalty for their products.
Marketing is responsible for understanding the needs of the customers because it stands to satisfy
the needs and wants by making available the products that suits the preferences of the market.

       Accordingly, marketing is defined as the management process responsible for knowing
who your customers are, predicting and satisfying consumer requirements profitably. It primarily
focuses on the target market of the business. For example, it caters to the patients in a hospital,
the shoppers in a mall, and guests in a hotel.

       In some small businesses, they develop customer relations well and they establish a good
rapport in order to build trust and a positive image for the brand. It is important because it helps
the owners to communicate with the potential customers through the testimonials and word-of-
mouth of their loyal customers. Giving importance to the customers makes them feel valuable so
they will patronize the products and services of the business (Kotler and Armstrong, 2007). They
even do the promotions at times.

        Marketing is typically about identifying the needs of the customers such as finding
solutions to the problems of the customers by creating or providing the right products and
services. Its role also includes the anticipation of the preferences of the customers such as what
gifts might be suitable for Valentine’s Day, what promos are they looking for, what clothing will
be in for the summer, etc. It has to bear with the future ideas the customers have and most
importantly the present. In addition to, Marketing satisfies the market. It is the majority of
marketing because it gives variety to the food you eat in a restaurant; it gives you choices for the

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colors of your shoes, the products in shopping malls, the services on a salon, etc. It stands for the
creation of what the potential customers need and want. Satisfaction must be the end product for
the customers aside from the physical thing or the service. Customers look for the actual and
core benefits in product like convenience and practicability.

        For the company, profit is the end-result of their hard work in marketing as well as
satisfaction. An organization that falls short in generating a profit will have nothing to put back
into the future or next projects. If they lack resources, marketing activities will not be pursued
and thus will not step up to the next stage of the marketing process (Barnir et al., 2003).
Apparently, analyzing, anticipating and satisfying will not be able to continue because there will
be no more budget. Marketing should not stop in a certain point as the world continues to
innovate. Modern marketing trends are more innovative and so does the organizations. The role
of marketing is becoming more highlighted and significant because new products are being
developed and the demands of the people are becoming more standardized. Thus, it helps people
to become more knowledgeable about the current trends that involve marketing.

Marketing Mix

        Businesses are putting much effort into product development such as branding, choosing
the best packaging and putting the right features in order to catch the attention of the market.
After establishing the product, it is now important to consider pricing because this will determine
the profit for the company and the worth for the customers. The products should also be in the
right place to be able to be reached by the consumers and be made available through the use of
promotional tools such as advertising, publicity, direct selling, public relations and sales
promotion.

      Marketing ensures the growth of the company through the Product, Price, Place and
Promotion or the 4 P’s, also called the Marketing mix. These tools are used in order to satisfy the
customers’ needs and wants as well as the goals of the business.

        Product- Generally, it refers 
				
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Description: This is an essay on the topic of marketing. Marketing is defined as the process of encouraging and influencing the market through different methods. This document will explain the nature of marketing and how a business or individual can exploit a variety of marketing techniques to their benefit. This essay is ideal for individuals or businesses that want to learn more about the topic and how to take advantage of different marketing techniques.
This document is also part of a package Business Strategy Starter Kit 18 Documents Included