What is Marketing?

 The term Marketing has been derived from the Latin word Marketus which means the method or place of contact between buyers and sellers. Market is a geographical area where buyers and sellers meet and enter into transactions involving transfer of ownership of goods and services. Marketing is an organizational function and set of processes for creating exchanging, pricing, delivering, promoting the value to customers and developing the good relationship between customers and sellers.

In simple word "marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communication and business development"


Marketing strategy 

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased  sales and dominance of targeted market niche. A marketing strategy combines product development, distribution, advertisement, pricing, relationship management and other elements and identifies the firm's marketing goals, and explains how they will be achieved ideally within a specific time frame.

Marketing strategies are a process of using the marketing mix to satisfy and attract consumers to make a profit for the organization.



There are many types of strategies such as:

. Market scope strategy 

. Product strategy

. Promotion strategy

. Pricing strategy

. Distribution strategy

Steps of Marketing Strategy 

1. Developing the market strategy 

2. Understand the customer 

3. Analyze the market 

4. Research and distributions 

5. Assessing marketing mix alternatives 

6. Financial analysis 

7. Developing a marketing plan

8. Review & implementation 


      Market orientation: 


Market orientation is the organization wide generation of market intelligence pertaining to current and future customers needs expansion of the intelligence across departments, and organization wide responsiveness to it. Market orientation is an approach to business that prioritizes identifying the needs and desires of consumers and creating products that satisfy them.



 Consequences of Market Orientation 

1. Business performance 

a. Effective ROI

b. Profit

c. Sales growth

 d. Market share


2. Employee response 

a. Psychological and social benefits

b. Pride, achievement, job satisfactions and commitment 


3. Customer response 

a. Customers satisfaction 

b. Repeat business  

Characteristics of Market Orientation 

1. Satisfaction products

Products meet the expectations of customers.

2. Consumer trust 

The company delivers as promised on goods and loyalties. 

3. Realistic prices 

Prices are realistic for the market not too high.

4. Product Information

The company provides all information needed to use the product in proper way.

5 Consumer voice 

Consumer can provide feedback on products.