The marketing philosophy

Marketing is not simply selling goods or services. So many aspiring business people naively assume that if they have a few customers for their products, and obtain orders, a transaction constitutes the marketing function. Orders think that promotion with selling is the total scope of the marketing activity –not so. While many definitions have been presented for Marketing, here’s an easy one:

Marketing is a process by which people and groups fulfill their needs and wants through creating and exchanging products.

As a managed process, value is added to the product and profit is generated for the business activity. The marketing function consist of a mix of tools that are available to the business person: advertising, distribution channeling, promotion, personal selling, pricing, public relations, communications, research, forecasting and other interrelated factors. Not all are used by every business, but each is part of the overall marketing concept and you may find that your venture will rely on certain tools more than others. The really important part of the customer wishes to have satisfied and pleasing the customer is fundamental to your success.

A need is a basic human requirement such as food, clothing, shelter, warmth, social relationship and security. There are frequently suggested ‘Hierarchies of Needs’ that state priorities for human needs, but needs vary with time and circumstances. The need for food is always fundamental and we see established industries supplying the need: agriculture, processing, distribution systems, retail market, shop, and restaurant; all are solely concerned with providing food product to the customer. Similarly home builder, finance sources, developers and real estate agents are in the business of supplying the need for shelter. These needs are primary for personal survival, so business is devoted significantly to fulfilling basic needs.