Marketing is an English concept, which is translated into Spanish as marketing or marketing. It is about the discipline dedicated to the analysis of the behavior of markets and consumers. Marketing analyzes the commercial management of companies to capture, retain and retain customers in order to satisfy their needs.
Some phrases where the term is used are: «We will hire a marketing expert to help us in the company,» «Lower prices during the World Cup was a great marketing strategy,» «I am reading a new marketing book»
Marketing specialists usually focus their activities on the Four P set: product, price, square (distribution) and advertising (promotion). Marketing appeals to different techniques and methodologies in order to conquer the market and achieve other commercial enterprise objectives.
Definition of the term by experts
Marketing was invented to meet the needs of the market in exchange for profit for the companies that use it to develop. It is a tool that is, without a doubt, strictly necessary to achieve market success.
According to Philip Kotler, it consists of an administrative and social process through which certain groups or individuals get what they need or want through the exchange of products or services.
Jerome McCarthy believes that it is the realization of activities that can help a company achieve the proposed goals, anticipate the wishes of consumers and develop products or services suitable for the market.
For his part, John A. Howard, who works at Columbia University, says he is convinced that marketing is a process in which it is necessary to understand the needs of consumers and find what the company can produce to meet them. And Al Ries and Jack Trout believe that marketing is synonymous with «war,» in which each competitor must analyze each «participant» of the market, understand their strengths and weaknesses and draw up a plan to exploit and defend them.
According to the American Marketing Association (AMA), marketing is a way to organize a series of actions and processes when creating a product «to create, communicate and deliver value to customers and to manage relationships» and its purpose is to benefit the organization by satisfying customers.
It is said that marketing is a social and administrative process because a group of people intervenes with their concerns and needs and because they need a certain number of elements, such as organization, implementation and control, for the efficient development of activities.