Business

What is marketing Is it a practice or a process Is it a tool for communication or a tool for promotion Is it the same as advertising These are just some of the questions that need to be answered before formulating the definition of marketing.

Marketing has been defined differently by different people. The main reason behind this is the fact that each one of us has a different mind and a different thought process. Marketing is not just selling goods to people or showing an advertisement on television. It is in fact very focused and clear in its approach. Hence my personal definition would be Marketing is manufacturing, promoting, and selling goods services and ideas, to a targeted group of people, having defined needs, using different tools of communication.

A Brief Look at Marketing
Marketing Guru, Philip Kotler (2002) defines marketing as a process of first identifying the needs and wants of people and then addressing those needs and wants. This perhaps seems as the simplest of all marketing definitions. However the process is in itself highly challenging.

Another marketing and management expert, Peter Drucker sees marketing as knowing your market to such an extent that it develops the need for that particular product and purchases it (Corrigan, 2009). The idea is to make the customer believe he has a need for the product rather than a want only then will the product sell itself. This is what marketings all about.

Based on all the above mentioned definitions of marketing we can infer a number of things that are important for marketing and for an organizations success. An interesting concept of Peter Drucker terms marketing and innovation as revenue generators and all other business functions as cost producers (Trout, 2006). This idea can very well translate the importance of marketing for any organization that aims for profitability. Todays consumer is well aware and has a variety of products to choose from. The challenge here is not only to make the existing product into something new but to also present it in novel ways. Organizations need to differentiate their offerings and position it in the minds of the consumer where other products are absent.

The above definitions also highlight the importance of knowing your customer. The fundamental step for any business is to identify the target consumer and gain relevant consumer insights in order to come up with products that will suit their needs. After this only will the promotional aspect of marketing drive the purchase rate. Organizations need to be aware and gain complete consumer market knowledge if they want to be successful if organizations fail to identify who they are selling to and why they are selling what they are, failure is bound to happen.

Marketing keeps on evolving. One approach to marketing is that of Integrated Marketing Communication (IMC). IMC is a 360 degree approach to marketing where all the marketing tools used are based on a single idea. This form of holistic communication captures the target markets attention instantaneously and for a much longer time resulting in brand awareness and purchase. In todays world where advertising is full of clutter, be it any medium, capturing the target audiences attention has become highly challenging. IMC is one way to easily reach your target market. Marketing therefore is not a standard process. It keeps on evolving and generating new ways of getting to the final consumer and making himher buy the product because eventually profit and market share is what companies are working for.

Cadbury Schweppes had expected to increase their sales by re launching Dairy Milk in 2006. The anticipated sales growth rate was supported by a heavy spend on marketing which not only achieved the sales target but went way ahead of it (The Times, 2007). Cadbury Schweppes aimed their marketing campaign towards the youth and hence all their advertisements and the campaign overall contained content that would attract the young market.

Nike is another success story where marketing strategies had a major part to play. Nike has always focused its end consumer in its marketing strategy making the campaigns successful. Another element has been the entertainment factor in the campaigns that grabs the consumers attention. Celebrity endorsements, the unique Nike logo, the Just Do It slogan and the use of other marketing tools in a different and creative way has made Nike what it is today i.e. successful.

Another example is that of Apple Inc. Steve Jobs, the CEO of Apple Inc. totally revamped the company by manufacturing innovative products and making people believe that those products are what theyve been wanting and actually need. This marketing philosophy has led to Apple Incs success and got them the Effie Award of the Most Successful Marketing Campaign of 2007 for their campaign Get a Mac (Cheng, 2007).

Conclusion
The above mentioned companies are some of the best known and established companies however what the one thing that has distinguished them from others is their marketing effort and competence. Cadbury Schweppes, Nike, and Apple Inc. had similar operations and production capabilities to other organizations they might even be offering similar quality products at similar prices. But what differentiated them from the rest and eventually made them successful was their marketing skills. Marketing was what helped them achieve greater sales, greater profits, greater market share, and most of all greater companies.