QandAs: Business

What is Marketing?

Answer:
Marketing is a division of business which identifies and anticipates consumer demands and attempts to satisfy them in

the most profitable way. The purpose of marketing is to find the right audience to advertise a product to so that the maximum number of people will buy the product. Marketing requires a combination of creative endeavors, such as advertising and selling, and sciences, such as psychology, economics, and neurology. Because of the importance of science in marketing, marketing is widely recognized as a science itself.

Marketing may take one of four orientations which guide how it seeks to sell its product. A product orientation means that those marketing the product will attempt to make the product as high-quality as possible, assuming that people will discover and buy a product as good as theirs. A sales orientation concerns itself with the advertising and promotion of an existing product to maximize how much of the product is sold. A production orientation focuses on producing as much of a certain good, assuming that with a high demand will come lots of attention to their product. A marketing orientation determines what type of product consumers want, then creating, developing, producing, and advertising that product. This last type is the most common form of marketing today.