What Is The Definition Of Marketing?

Marketing is an all-encompassing term that represents the various activities that are involved in an entity selling a product (seller) to another entity (buyer), in a way that is satisfactory to both buyer and seller. Such an activity, when performed in a way that meets the above description, will also ensure that the relationship between the buyer and the seller is maintained so as to keep the door open for future interactions.

What this means is that marketing is not merely advertising or selling a product, which is the most common misconception about this field of work. It involves the entire process – right from conceiving the product or service, identifying the target audience, designing the price component, and then ensuring successful distribution to individuals and organizations, depending on the target audience identified. Marketing is an activity that requires the ability on the part of the marketer to convince the potential buyer about the feasibility and benefits of buying the product, service, or event being marketed.

Within the ambit of this definition, it follows that you can market anything – a product (such as a microwave), a service (such as a holiday), or an event (such as a concert).

Its a form of selling products and services through means of advertising and promotion.