What is Marketing?

What is Marketing?

A simple definition for marketing is that it is the creation and satisfaction of demand for your product or service. If all goes well, this demand should translate into sales and, ultimately, revenue.

In 2012, Dr Philip Kotler defned marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential” (Kotler, 2012).

In order to motivate people to pay for your product or service, or to consider your organisation superior to your competitors, you need to create meaningful benefits and value for the consumer. The value that a marketer should seek to create should be equal to or even greater than the cost of the product to the consumer. Doing this often and consistently enough will grow trust in and loyalty towards the brand.