References . 123  

Management Consulting  Glossary . 123  

Marketing

What Is Marketing?

General Definition  

In plain and simple terms, marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products. That's it in a nutshell! 

Marketing produces a win-win situation because: 

·         Customers have a product that meets their needs and  

·         Healthy profits are achieved for the company. (These profits allow the company to continue to do business in order to meet the needs of future customers.)  

Stated another way, focus on what the customer wants is essential to successful marketing efforts. This customer-orientation must also be balanced with the company's objective of maintaining a profitable volume of sales in order for the company to continue to do business. Marketing is a creative, ever-changing orchestration of all the activities needed to accomplish both these objectives.

How Are The Customer And Business Objectives Met?