In this article, we’ll learn about What is Marketing, the goals of Marketing and more.
Marketing is the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
1. According to the American Marketing Association (AMA) Board of Directors:
“Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.
2. According to Dr. Philip Kotler:
“The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services”.
The Goals of Marketing
The goals of marketing are to:
- Create customer value: Marketing should create value for customers by providing products and services that meet their needs and wants.
- Build strong customer relationships: Marketing should build strong relationships with customers by providing them with excellent customer service and creating a positive customer experience.
- Generate sales and profit: Marketing should generate sales and profit for the organization.