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What is Marketing?

 Top up your skills with Advanced Certificate in Marketing at Ransford

Marketing, more than any other business function, deals with customers. Although we will soon explore more-detailed definitions of marketing, perhaps the simplest definition is this one: Marketing is engaging customers and managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering value and satisfaction.

For example, Nike leaves its competitors in the dust by delivering on its promise to inspire and help everyday athletes to “Just do it.” Amazon dominants the online marketplace by creating a world-class online buying experience that helps customers to “find and discover anything they might want to buy online.” Facebook has attracted more than 1.5 billion active web and mobile users worldwide by helping them to “connect and share with the people in their lives.” And Coca-Cola has earned an impressive 49 percent global share of the carbonated beverage market—more than twice Pepsi’s share—by fulfilling its “Taste the Feeling” motto with products that provide “a simple pleasure that makes everyday
moments more special.”

Sound marketing is critical to the success of every organization. Large for-profit firms such as Google, Target, Procter & Gamble, Coca-Cola, and Microsoft use marketing. But so do not-for-profit organizations, such as colleges, hospitals, museums, symphony orchestras, and even churches.

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