2.2 WHAT IS MARKETING? MARKETING Definition Marketing can be defined as the sum of activities involved in directing the of goods and services from producers to consumers . Such a process can occur only when there are at least two parties, each of whom has something to offer (product or money). Producers must be able to communicate effectively about what they offer, in order to get what they want, and this is what marketing is meant to do. flow 1 However, marketing is not a function that is limited to profit-oriented business; even institutions such as hospitals, schools, and museums engage in some forms of marketing in order to make their products or services appealing to as many people as possible. Origins Even if a number of studies have found evidence of advertising, branding, packaging and in antiquity, modern marketing emerged during the first industrial revolution and developed in the early 20 century, when large companies realised the importance of market research, better product design, effective distribution and well-constructed communication with consumers for the success of their brand. It was back then that strategy became a key factor and the marketing process a must. labelling th DO Surf the Internet to find another definition for marketing. 1 The marketing process Strategy is the key word to understand what marketing is and a good marketer has to study a strategy like a player. The marketing process consists of four main steps: chess (to identify the ideal consumer, check on consumer’s needs and wants and competition and become aware of one’s position on the market); market segmentation, market research and SWOT analysis 1 planning (the combination of techniques used to market a brand: putting the right product in the right place, at the right price, at the right time); marketing-mix marketing implementation (process which should ensure the achievement of the strategic objectives adopted by the company in order to improve them). marketing control MORE SWOT stands for Strengths, Weaknesses, Opportunities and Threats: an analysis of these elements applied to a brand will help a company make the right marketing decisions. 1