Marketing: What is marketing?

What is a market? A market can be defined as a meeting place for buyers (consumers) and sellers.  Markets can be set up in a shop, restaura...

What is a market? A market can be defined as a meeting place for buyers (consumers) and sellers.  Markets can be set up in a shop, restaurant, over the telephone/ internet, at a car boot sale, etc.

A market consists of the individuals or organisations who are actual or potential buyers of a product or service.  (This is part of Marketing: Marketing Software, Marketing Automation Software, Web Marketing Services, Online Marketing Services, Business Marketing Services, Online Marketing Service) Markets may be classified as consumer markets or industrial markets.

Consumer markets are made up of individuals who purchase goods or services for personal or domestic use.  They make most of their purchases from retailers and buy a combination of consumable goods, such as food and durable goods such as cars, televisions, and clothes. Consumable goods are bought more frequently than durable goods.

Marketing:  What is marketing?

Industrial markets are made up of organisations that purchase goods or services to use in the production of other goods and services. They buy a combination of consumable goods, such as raw materials and longer-lasting durable goods, such as machinery and equipment.

What is marketing?
Marketing Manager Required: Here is your chance to influence the spending habits of a discerning sector of the population and manage a world-famous cosmetics company. Reporting to Senior Management, you will develop and implement a marketing strategy for a range of brands.  You will have responsibility for market research, promotion and advertising, direct mail activity and preparation of publicity material. Additional responsibility will be for new product development and branding in order to expand our market base.

The marketing activities contained in the above job advertisement are italicised in the text.
The Chartered Institute of Marketing defines marketing as ‘the process involved in identifying, anticipating and satisfying consumer requirements profitably’.

Disclaimer: The information contained in this website is for general information purposes only.

The information is provided by Gossip Maestro using online sources and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose.

Any reliance you place on such information is therefore strictly at your own risk.