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Webster's Definition:
1. The act of buying and selling in the market. 2. All business activity involved in the moving of goods from
the producer to the consumer, including selling, advertising, packaging, etc.
Chartered Institute of Marketing (UK):
Marketing is the management process responsible for identifying, satisfying and anticipating customer
requirements profitably.
American Marketing Association (AMA):
.. the performance of business activities that direct the flow of goods and services from producer to
consumer or user.
Philip Kotler - "Marketing Management":
Marketing is the set of human activities directed at facilitating and consummating exchanges.
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Marketing is one of the most important part of any business. The basics of Marketing are:
- Research and Development: Identify what the market needs and then find ways to
produce products or services that satisfy those needs. This could be new product /
service or improvements on existing ones.
- Advertising and Promotions: Make it known to the market you have the product or
service that satisfies their needs. Use the fastest and most effective way to inform as
wide a coverage of the market as possible. Educating the market.
- Sales: Make it easy for people to find and purchase them. Fast, easy and
hassle-free. Suitable pricing policy that ensures the competitiveness of your price,
while maintaining a suitable profit at the same time is essential.
- After-Sales Support: Ensure effective, fast and friendly aftersales support.
- Public Relations: Build a reputable image of your company through quality products, reliable after-sales support and aggressive involvement in community service projects and worthwhile government initiatives like education and health sectors.
- Collaborations: Forming suitable strategic and logistic Business-To-Business (B2B) alliances and cooperations to expand the market scope and reach. WINWIN situations that are mutually profitable for all involved, especially the consumers.
- Market Research: Gather feedbacks from all your customers. And then, keep on
adding new benefits and continuous improvements on your products or services. Yes,
from here, we are back to step 1.
If you successfully implement the above Marketing basics, the market will happily and
continuously pay for your products and/or services - and you will keep on making money.
By now, you should realise that Marketing is not Sales. Sales is only ONE part of marketing.
Many company have failed in their Marketing efforts because of confusion on this. The
earlier you understand the difference between Marketing and Sales, the better.
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Instead of the traditional "negative competitive mindset", we can all benefit more
from a new WINWIN paradigm we call "positive collaboration mindset".
Instead of competing with each other blindly, and wasting much precious resources,
we can instead work together to produce
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eventually survive and make profits.
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Through positive discussions and exchange of ideas, we can all inspire each other to great
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