Research: Marketing

Marketing is the process which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It is an integral process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Marketing is used to identify the customer, to keep the customer, and satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and over-capacities in the last 2-3 centuries. Companies then shifted the focus from production to the costumer in order to stay profitable.

The term 'marketing concept' holds that achieving organisational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organisational objectives, an organisation should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.