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Marketing Is Not Primarily Advertising or Is It?

In: Business and Management

Submitted By Isabell01
Words 1321
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Nowadays the term marketing is regarded as a synonym for advertising. But is marketing really primarily advertising or rather can it be defined in such a simple way? Finding the one right definition of marketing is not possible as this term can be defined in many different ways. A widely spread and common definition says that marketing is „the all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time”. This kind of definition does not even mention the term advertising but affirms that marketing involves the whole business as well as the customer and mentions already three of the so-called 4 P's that form the marketing mix: product, price, place and promotion.

The product, the first P, is sure the most important one. A business needs a product or service that can be offered and sold to customers. Every step the business has to make is based on one or more specific products. To be successful, the marketing department has to make decisions concerning an appealing design, the employment of modern, qualitative and efficient technology, the usefulness and value of the product as well as its convenience, packaging, additional features and warranties. All these decisions have to be made concerning the target consumer group's needs and wants by doing market research with the objective of producing and selling efficiently and not to make losses. Furthermore, the importance of additional features and services must not be underestimated. Nowadays many markets are already saturated and in many branches customers have the possibility to choose between products offered by various businesses. It must be pointed out that in its core these products are quite the same. What really matters are the additional features this product comes with or how long the period of the guarantee is as this...

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