Marketing is a process that identifies, anticipates and satisfies the customer requirements. This is achieved through creation, distribution, promotion and pricing of goods, services and ideas.
Analysis: Its a profitable activity whose main objective is to satisfy the customer. Its priority involves: Maximising marketing opportunities and outdoing the competitors in order to increase profit.
Role and significance of marketing in my life:
-Awareness on existing products: Through marketing i get to know the existence of some useful products already in the market which otherwise i wont have known.
-Awareness on new products in the market: Through this, i will be able to know the availability of new products in the market which could either be cheaper or superior in quality than those already dominating the market.
-Marketing can also be a profession and hence a source of income. At the moment i am studying marketing hence i may land in the market just like other specialised marketers who win their daily bread through it.
How and why marketing has become what it is today.
-Marketing involves developing and managing a product that will satisfy certain needs, i.e the marketing tools. Despite this the marketing of yesterday and that of today's are not the same. This has been highly varied from the previous especially through the change in technology. Being somehow a necessity in life has made it what it looks like today. For instance this days we have internet marketing i.e through e-mails in yahoos, gmails etc.
-The main reason why this is so, is simply because of its main role and significance in the customer's life.
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