Marketing

What is marketing?

The action or business of promoting and selling products or services, including market research and advertising.

Marketing is the management process which:

· Identifies customer wants,
· Anticipates their future wants,
· And then goes about satisfying them profitably.

Marketing also includes:

The development of a product.
Finding out what sort of customers might buy the product.
What packaging should be used.
What process should be charged.
Where it should be sold.
As well as the advertising and promotion that should be used.

And the objectives of going through all these marketing process are, to:

Increase sales revenue and profitability.
Increase or maintain market share
Maintain or improve the image of products or a business
Target a new market or market segment.
Develop new products or improve existing products.