Marketing

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DEFINITION of 'Marketing'

The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion.

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BREAKING DOWN 'Marketing'

Many people believe that marketing is just about advertising or sales. However, marketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing. The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensure profitability

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RELATED FAQS
  1. Which KPIs (key performance metrics) should I use if I want to attract new customers?

    Some of the key performance indicators (KPIs) for businesses seeking to attract new customers are focused on effectiveness ... Read Full Answer >>
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    Long-tail marketing refers to a business stocking a great variety of products that are not fast sellers to make huge total ... Read Full Answer >>
  3. What are the advantages of hiring a third-party marketing company?

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  4. What are some of the benefits of positive brand equity?

    Positive brand equity enables a firm to make a higher margin on sales and reduce advertising and marketing costs. Brand equity ... Read Full Answer >>
  5. What are the key differences between marketing and advertising?

    The key differences between marketing and advertising are based on how each term defines a separate function in the process ... Read Full Answer >>
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    According to LinkedIn's quarterly SEC filings, the professional networking site makes money through its talent solutions, ... Read Full Answer >>
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