What is marketing and 4Ps of marketing?

What is marketing and 4Ps of marketing?


What is marketing and the 4P's of marketing plays a significant role in every business organization, but one must be clear with marketing vs sales before getting deep into the concept.


The term marketing is an advanced version of sales, mainly it's the focus is on customer attraction and getting a large number of audiences online or offline. One of the reasons behind a successful business is it's marketing techniques and to run the organization victoriously one must be clear with what is marketing and 4Ps of marketing.


These days marketing is an organized department of business organizations that mainly focuses on building potential customers and on profit increment of the companies. These were the free form definitions for the term marketing but I will explain the concept in detail.


What is marketing?

what is marketing
Marketing is a process of getting a large number of customers by attracting them to buy our product or service by the way of promotions, communication, and market research. What is marketing gives clarity about finding the want of the customer and processing the goods or services as per the need of the customer?


The process involves certain parameters that help in determining the right product or service which the customer wants and satisfying the want and the customer needs in an appropriate manner with the idea of retaining the customer.


Getting more wider into the concept of marketing, the point that comes in mind is what is the difference between sales and marketing.


Marketing VS Sales


marketing vs sales



We can say the difference between marketing and sales or marketing vs sales is a vital concept that all the readers must be cleared with after the concept of what is marketing.


As we know that both marketing and sales are performed to boost revenue but there is a big comparison between both of them, that will be clarified with the following key points.

  • Sales is simply selling goods or services to the customers but the marketing is an advance version of sales that involves a systematic outlook that starts with the market research, implementing a plan and using that plan in developing goods or services for the targeted customers, that the main differential fact for marketing vs sales.

  • Sales work on a short term purpose of engaging buyer and seller in a single point of transaction but marketing starts very early from sales and is a wider term as compared to sales because it focuses more on building after-sales or service relationships with customers.

  • Sales clearly focus on delivering products or services to the customer whether he wants or not, basically, it's the way of receiving compensation from the potential customer in monetary terms but marketing is delivering product or service to them after satisfying the wants of the buyers.

  • One of the differentiating points of marketing vs sales is that sales department is focused on moreover volume-oriented growth but marketing is more toward profit-oriented sales.

  • Sales focus on awareness of goods or services toward the buyer but the marketing technique caters the awareness of products by the seller who is the one should be clear with the facts of goods or services. 

Now getting on the road with the topic that we have titled above- What is marketing and 4Ps of marketing?

4P's of marketing


4P's of marketing


The 4P's of marketing is also referred to as marketing mix, that is the mix of the four factors that provides us a deep inside about the usage of the golden rules to run marketing that ultimately helps in the growth of the organization and increasing the profitability.


The golden rules play a strategic role that involves proper marketing functions as per the dynamic business environment and guides us with the remedies to fight with such a changing environment.

The 4P's of marketing are Product, Place, Price, and Promotion all these would help us in getting a wider clarity toward the concept of what is marketing and also signifies the topic of marketing vs sales.

Product


The product refers to the goods which are tangible or the service which is intangible. The product is offered to the customer in exchange for monetary benefits and satisfying the customer by catering to their needs or wants.


Satisfying the buyer is not an easy job because before making the customer comfortable at buying our product, we have to do market research on what the customer wants and then developing the products as per the needs of the customer.


All the factors such as size, availability, packaging, design, after-sales services are to be kept in mind before delivering the actual goods or services.


Place


Place refers to the actual location that is to be targeted by the seller, so as to cater the want and needs of the buyer.

"Someone has true said that placing the right product at the right place is marketing"

Choosing the right location will involve a large number of audiences as a customer and will result in good revenue and profit.

Let's understand better this with an example- If I own a medical shop where I use to sell large varieties of medicines but the place where my store is situated is near the clothing market which clearly justifies that I will get a limited number of customers but if my store is placed at the right location that can be near a hospital or a clinic then I will be getting a large variety of customers that results in a good amount of sales.


Price


Price refers to the actual amount of money that the consumer is paying. Choosing a favorable price is a vital decision for every organization, it determined the amount of profit that is the fruit from the sellers' hard work.
There are many factors that are to be kept in mind when it comes to the price which is cash or credit, seasonal discounts, buying cost, taxes, etc.


If the seller is giving a good price that is involved with appropriate profit then it will result in good number of customers who are not our one time visitors but are our loyal buyers.


Promotion


Promotion is the final step of the marketing mix that involves using different techniques that would help or engage the customer to directly reach the seller for buying goods or services.

 It really looks like magic, how can a buyer pleased to buy from you and the answer is all because of promotion.

It involves techniques such as advertisements, building public relationships, marketing on social media, word of mouth, etc.


Promotion is not an easy task because it involves a lot to engage a buyer to place an order from you when there are thousands of competitors in the market, all this can possible with the ways to attract customers with the ways of attractive promotive tricks.


Conclusion


With the content, we are clear with the concept of what is marketing and 4P's of marketing but we will conclude with a brief outlook of our topic that will cover marketing vs sales and 4P's of marketing.


The 4Ps are Product that is the actual goods or service to be sold, Place covers the exact location or the market to be targeted for delivering products, Price is the actual price that is to be charged from the buyers and Promotions involves techniques that are put into action so that the buyer buys from us.

Marketing is a process of using the marketing mix for survival in the dynamic business environment but different from the simple sales which are buying and selling.

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