Marketing is a flavor the more you explore the more different tastes you get. It is a process of identifying the needs and wants of people and fulfilling those needs by offering quality products or services and making them come back to you. This means you have to analyze and identify your target market segments and satisfy them better than any of the competitors.
According to the American Marketing Association (AMA) Board of Directors, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.
Dr. Philip Kotler, globally regarded as the father of Modern Marketing, defines Marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving the best and its designs and promotes the appropriate products and services”.
Fred E. Clark defines Marketing as “those efforts which affect the transfer in the ownership of goods.”
What is Brand?
A brand represents the symbol, name, logo, vision, and message that a company creates to represent its goals, vision, and mission and differentiate its products and services from other competitors. A brand is the most valuable asset of a company as it coveys its feelings and flaunts the image, status, and position in the market.
A brand that successfully reflects the image, message, and product of the company result in being a well-known company. Following are some of the successful brands: