Marketing: Basic Concepts

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What is marketing?

According to A.B. Ilano, “Marketing is an art, a science and a field of discipline. But not everything that goes on sale follows the principle of marketing.”
In our wide market, marketers not only aim to sell their products, also they want to provide valuable exchanges to both the sellers and buyers.

Marketing involves a lot of processes including:

1. Science
2. Communication
3. Art
4. Value

How these relate to the marketing process?

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• Science

• Marketing is not just simply presenting or introducing your product in the market. It’s not enough having a source of fund and knowledge about the product. Knowing your target customer will help you to meet the specific demands of your target market. You can only do that by doing research. It involves scientific methods that give you reliable data about your potential customers. This is how marketing becomes a science.

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• Communication

• Communication builds a bridge between the sellers and the buyers. How will you get to know your customers? The data you collected can be used to please your potential buyers. The more you know about them the more you will be successful in pleasing them. What kind of products they want? What are the specific needs of your target market? Through communication and receiving feedbacks from the customers it will be easy for the marketers to think of different ways of providing value to their products.
  
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• Value

• Marketing is all about “valuable exchanges” meaning it’s not only the seller who gets the profit every transaction. Buyer’s profit is the product itself which they think is valuable. Creating value to your products is one major role of marketers since their concern is providing satisfaction to customers.
  How will you create value to your product? Well, there are many ways that is why you also have to develop your artistic side to make your customers satisfied to your products.

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• Art

• Art is all about creation and innovation. Most of the times customers need the same product but of different kinds. These specifications occur because of customers’ difference in age, taste and other factors. Marketing as an art will help you to provide effective ways to cater the specific demands of your different target markets.

Generally, marketing should be customer-oriented. It’s not primarily about closing deals and earn profits. All transactions should bring satisfaction for both the buyers and sellers.
Lastly, you can also apply marketing in steemit. Using the concept above, it will help you to build your own trademark in the Steemit community.

Thanks for reading!