Marketing is a vast field, and numerous definitions and meanings are associated with it. This article aims to explain “what is marketing?” easily if that’s what you’re looking for. At the end of this article, you’ll be well-versed in the meaning of marketing, the marketing mix, the types of marketing, its functions, and its importance. If you are looking for a marketing career, you’ll learn about the scope and salary associated with the same.
What is Marketing?
An organization’s actions to increase the sale of a product come under marketing. It involves various processes like advertising, selling, and delivering products to customers or other businesses.
Top picked jobs for youWhat are the 4 Ps of Marketing?
Product, Price, Place, and Promotion are the 4 Ps collectively known as the “marketing mix”.
1. Product
The items/services a business offers its customers are known as products. A product will only succeed if there is demand. Hence, the company needs to understand the market and consumer demands first.
2. Price
The monetary value of a product is its price. Before finalizing the price, a company must understand the consumers’ expense patterns, the country’s economy, production and marketing costs, and competing for product prices.
3. Place
Considering where the product is sold is also vital. Whether the sale is online or in-store should be considered while advertising so that you can market it to the right audience.
4. Promotion
Promotion includes numerous activities like advertising, public relations (PR), sales promotion, sponsorship, etc. It is how your customers will find your product.
What are the types of Marketing?
1. B2B Marketing
It is the marketing of products or services from business to business. B2B marketing is for any organization which sells to another and not to individual consumers. It is common in the manufacturing industry.
2. B2C Marketing
It is the marketing of products or services directly to consumers. Hence it is called Business-to-Consumer (B2C) marketing.
3. Direct Marketing
It is a marketing strategy that aims promotional activities directly at the target audience without intermediaries. Direct marketing is done through both traditional and digital methods. Some examples of direct marketing are coupons, phone calls, emails, etc.
4. Personalised Marketing
A marketing strategy is where the company tracks a customer’s purchase history and tries to create a customized experience. This strategy is known as personalized marketing. It makes a customer feel valued by the company and helps the company to grow its loyal clientele.
What are the functions of Marketing?
Functions of Marketing means jobs and types of work performed to ensure a strong image of the product in its respective target market. The main marketing functions are:
- Promotion of products/services creates awareness of the product in the eyes of the customers.
- Selling is an essential marketing function and must be handled with subtlety; this function builds a clientele for the products/services.
- Product Management, customizing, designing, or bringing necessary changes in the products/services as per the customer’s needs so that it becomes user-friendly and dominates the competition.
- Pricing of product. Setting attractive prices, providing discounts, coupons, etc. To attract customers and expand the product’s clientele.
- Marketing information management so that marketing strategies can be updated by the data availability and demographics of customer needs, market preferences, competitors’ pricing strategies, etc.
Marketing Interview Questions
Q1. What is a Marketing strategy?
An overall plan to continue business and present its products/services in the target market to sustain, dominate, sell, and earn profits from the target market.
Q2. What is a Marketing plan?
An outline or a list of methods and ways a company would approach the market with its products/services to attract the target customers.
Q3. What is a Marketing concept?
Set of plans of a company to continue business and present its products/services with several outlined ways and methods to increase sales, maximize profits and dominate the target market.
Why is Marketing important?
- Marketing boosts the image of the company and its products/services in the market, resulting in a solid and huge clientele.
- Creates a strong positive image for the target customers and further helps establish a brand.
- Creates demand for the product/services.
- Increases sales and maximizes profits.
- Maintains a healthy ratio of demand and supply for the products/services.
What is the salary in Marketing?
Salaries in marketing have risen recently because of how important it is for success. Some of the highest-paying roles in marketing are:
| Job Title | Expected Average Salary |
| Marketing Manager | 7.1 LPA |
| Brand Manager | 12 LPA |
| PR Manager | 7.5 LPA |
Why Choose Marketing as a Career?
Marketing as a career is highly trending in this digital era, and there is a broad scope in the same:
- Market Research Analyst hired by a company to study the opportunities in the market and select the target audience.
- Public Relations Officer hired by a company to make the public think of them positively.
- Digital Marketer comes with many opportunities in fields like SEO, email marketing, etc.
- The Brand Manager is responsible for increasing brand value in the market.
- The sales Manager manages all aspects of sales and product distribution.
Conclusion
There are dozens of unique opportunities in marketing. It is not easy to understand its scope due to the constant changes in the field. However, this article covers its most prominent functions, importance, and available career options. Moreover, if you are someone who is looking to join marketing roles, then you can check Job Hai, as it has various listings in the field.
FAQ
Q1. What do you mean by Marketing?
An organization’s actions to promote buying and selling a product or service come under marketing.
Q2. What is the meaning of Marketing?
Marketing includes advertising, selling, and delivering products to customers or other businesses.
Q3. Is Marketing a good career?
Marketing is one of the best careers right now. Salaries have risen in the field because of how important it is for success.
Q4. What is B2B Marketing?
It means the marketing of products or services from business to business. B2B marketing is for any organization selling to another company, not individuals.
Q5. What is B2C Marketing?
It is the marketing of products or services directly to consumers. Hence, it is called Business-to-Consumer (B2C) marketing.
Q6. What is Retail Marketing?
Retail marketing encompasses how a consumer business attracts customers and generates sales of its goods and services.
Q7. What’s the difference between B2B and B2C Marketing?
B2B refers to businesses focused on serving other companies. B2C refers to businesses focused on the needs and interests of their customers.
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