What is Marketing?
The American Marketing Association defines marketing as "a process which includes planning and implementing such things as the development, pricing, promotion, and distribution of ideas, goods and services in such a way as to create an exchange which will satisfy both individual and organizational objectives." One normally thinks of marketing as the successful selling of a product and that is one element, however as the definition suggests, it is also much more.
What do Marketers Do?
Some careers available to marketing graduates include sales management, public relations, advertising (idea creation and/or writing copy), market research, retail merchandise management, customer service management and market analysis. The latter function is one that deals with the important activity of evaluating both existing and potential markets in terms of expected profitability, ability to compete, existence of unmet demand, creation of demand, etc. This is particularly important for individuals who are entrepreneurial in nature because unless one is able to provide all the necessary startup capital, lenders of all kinds will want to see these projections.
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