Marketing
What is Marketing ?
Marketing is the business activity that every business must engage in to produce profits . Marketing is defined as:
The performance of business activity that directs the flow of goods and services from producer to consumer.
Source:
( The American Marketing Association Committee.)
Fortunes have been made by entrepreneurs because
they have developed more efficient ways to deliver products to consumers at a lower cost thereby producing more sales and more profit. Marketing is not limited to sales only but includes many activities such as:
- market research
- product development
- advertising
- branding
- product delivery
- customer support
Origin
The word (marketing) comes from the term, market place.
The marketplace has been around for centuries. The market place was created by different civilizations so that the seller of goods can have a location where they can show case there wares to the general public for trade.
A long time ago goods were transported by camel caravans across deserts. Then came ships, railroads and trucks.
Now we have the internet to improve everything from showcasing products to ordering and shipment of products.
The trading of goods for profit is the life blood of marketing. The Market place for today’s Internet Marketer is the world wide web. And his store front is his web site.
The Dynamics of Marketing
Marketing is a dynamic self sustaining business philosophy that produces wealth and prosperity for the entrepreneur and at the same time enhances and improves the quality of life for the consumer.
Aggressive marketing practices have been largely responsible for the high material standard of living in America. Aggressive sales is a positive force force improve life. But most entrepreneurs do not have the stomach to be intrusive.
The dynamics of Internet marketing is self evident. To make more sales the business owner can reach more people at a lower cost. But this possibility hinges on the fact that the Internet marketer must follow some tried and tested rules of engagement in order to be successful in marketing products or services on the Internet.
For example, while it is possible to sell products to thousands of people on the Internet, It is more likely that not one sale will be made if the proper market research is not done first.
No matter how great the product is or how much of a
bargain it is, people will not buy if they don’t need or want it. Most new entrepreneurs learn this valuable lesson the hard way.
It should be noted that marketing has always shown
it self to thrive in a free market society. This has proven to be true especially in the United States of America. Right now the U.S. Has been experiencing an economic down turn with the rest of the world.
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