What is Marketing?

Dictionary.com defines marketing as "the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling." Typically, marketing is divided into the FOur P's:

Product: This refers to the offering up for sale, whether it be a product or a service. Deciding on what to offer your target market takes hard work and research. Smart companies make sure that what they offer fills a genuine need within the market place.

Pricing: The art and science of pricing is sometimes overlooked as a critical element in making a sale. In addition to covering costs and making profits, companies may incorporate many strategic pricing initiatives in order to maximize profits.

Placement: This refers to how the company's offering will be distributed. Will the sale take place via a website? If so, how will payment and shipping be handled? Will products be sold through a distributor, or perhaps a wholesaler? Questions like there are all part of Marketing's job.

Promotion: Promotions are what the marketing function is best known for. These range anywhere from creating coupons to entice customers into purchasing, to full out advertising campaigns with elaborate commercials.

We could go on and on about the marketing function, but if you are coming to this site, chances are already in business and don't need such an elaborate explanation. However, you may enjoy checking out some of our favorite resources on marketing and business in general.

Marketing Profs

One of our favorite resources to learn about the latest marketing tools and techniques.

Journal of Marketing Blog:

This is the official blog of the American Marketing Association.

Buisness Profit Coach Blog

Although this blog covers all aspects of running a small business, the marketing advice here makes it worth a look.