Marketing in business refers to the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services. It involves researching, promoting, advertising, selling, and distributing a companys products and services. The purpose of marketing is to attract, acquire, and keep customers by analyzing how businesses can attract them.
Marketing includes a range of activities, such as product development, distribution methods, sales, and advertising. It makes use of the "marketing mix," also known as the four Ps: product, price, place, and promotion. Marketing strategies can include digital marketing, content marketing, referral programs, influencer marketing, hosting live events, and inbound and outbound marketing.
Marketing is typically done by the seller, which can be a retailer or manufacturer, but sometimes tasks are contracted to a dedicated marketing firm or advertising agency. The importance of marketing in business lies in matching the companys products and services to customers needs and wants. By promoting brand awareness and creating leads, marketing can generate revenue and sales for a company.
