What is Marketing?

Marketing Defined

In its most basic definition, marketing is making products or providing services (made available) to a specific group of targeted people. That group can be large or very small but it should thereby satisfy the customers need (the "need" can be questionable) while making profits for the company. Basically, you must identify those that want to buy your "stuff". For example, I have no need nor desire to wear red pumps, therefore I am not a good target market. My wife will not even wear red pumps even though she is in that general market - female, she's not part of that segmented market. Identifying those that want to buy now is why having a good understanding of your market is important to the management of your enterprise.

Many small business owners fail to identify the market size, potential, the cost to enter the market etc., even when they have the technical know how to provide a superior service. As competitive as the business environment today, it is to the small business owner's benefit - the survival of his/her business, that she understand her market as much as possible and the direction that it is moving for future planning.

For more information view my website at www.3vdesigngroup.com/marketing.