What Is Marketing And Its Major Types?

According to the American Marketing Association, Marketing is the function of an organization which is responsible for determining the needs of the customers, and then creating, communicating and exchanging the offerings to the customers. Marketing plays an important role in evaluating the potential of products and services in a targeted area and providing maximum value to the clients. There are three types of marketing.

First type of marketing is the undifferentiated marketing which considers that all customers have the same aims for a particular product.

Second type of marketing is differentiated marketing, which believes on developing products for the specific segments of the customers.

Third type of marketing is concentrated marketing which targets only one small market or the niche market.