5 Definitions

of Marketing

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Profit - the universal credo of the business world

Profit - the universal credo of the business world

Every economic actor, be it a company, individual, multinational corporation or NGO, needs income to function and, above all, to develop in an extremely dynamic market that is dominated by unscrupulous competition law. 

Profit, which is also the central aim of any economic activity, generally comes from goods and services that are offered to a particular sector of the market. The larger the circle of customers willing to buy, the better the chances that the product will be sold.

It seems simple, almost mathematical, but the process is actually very complex and the real effort is to convince the buyer to buy and give preference to the company’s offering.

This process falls under the field of marketing and essentially involves influencing the consumer’s decision in favor of the provider of products or services. Put in simple words, this would be translated as, “You need what we offer! Buy from us, not from others “.

What is Marketing?

The field is very vast and evolves with the dizzying dynamics of the market, and in some cases goes through even faster mutations, so that sometimes certain types of marketing end up structuring the markets. This is a reverse phenomenon than the natural course of the supply-demand mechanism.

Because the subject of generic marketing is so complex, there are several definitions, all of which are correct from some point of view but are not exhaustive. We are going to review the 5 most important of these definitions that best capture the essence and key features of marketing:

Marketing meaning: “Orientation of a company to the promotion of sales through customer care, advertising, observation and control of the market as well as through appropriate control of its own production”

2. Set of measures?

However, marketing is not just a series of measures, it is even a field of research and a reference system in economic activity.

From this point of view, the subject of marketing can be defined as the conception of the organization and development of commercial activities aimed at harmonizing production and supply according to the most important or urgent needs of consumers.

It is a series of techniques and methodologies aimed at studying consumer demand and meeting the demands of the market as efficiently as possible, with the maximum profit of course for the supplier.

3. Coherent process

Marketing is not only a set of activities, an area of study and research, but also the size of a process because it follows a pattern based on certain fixed landmarks, starting from certain premises and goals, and then from level to level fulfills its purpose by finding solutions and optimizing business practices aimed at increasing the visibility and demand of the product in the market.

In short, this perspective defines marketing as a coherent process consisting of a series of analytical, strategic and operational activities which together have the task of directing the company towards a series of existing opportunities or identifying new ones, with the ultimate goal being the Companies grow and become more profitable in the medium and long term.

4. Corporate philosophy

Another very important dimension of the marketing concept is the ideal.

Some experts have even argued that this is not just a simple section of economics, but even a corporate philosophy, a modus vivendi of the economic agent, and also a system of commercial thinking.

From this point of view, marketing can be defined as a new economic perspective, a new way of thinking, a paradigm that focuses on the benefit of the company by meeting consumer needs.

This objective is pursued with a wide range of modalities aimed at customizing products, prices, sales and other theoretical and practical activities, all programmed and organized on the basis of predictable scientific methods and techniques.

5. Complex process system

There is also a global description which aims to include all the specific elements of marketing in one coherent definition formula.

According to this explanatory model, marketing is a complex process system for structuring, planning and executing the design, pricing, promotion and distribution of ideas, goods and services in order to create an exchange that corresponds to the goals of the organization.

Put in this way, the definition of marketing tends to cover the basic elements that make up this increasingly explored and vibrant field.

Conclusion:
Marketing - a vital function of the economy

No matter how many definitions it has, the marketing concept and the entire adjacent field turn out not only to be particularly complex, but also to be very dynamic.

The way marketing has invaded the economic activity scene over the last century proves that it is much more than a simple discipline, theory, or set of business practices.

The stability and speed with which the topic evolves and nuances from year to year qualifies marketing as a real organic process of society, an intrinsic phenomenon necessary for the smooth functioning of society, and even as an infrastructure of principles and codes of conduct for all economic actors. From the market, both providers and consumers.

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