Ferhat Abbas Setif-01 university Ms ZERROUKI.

Academic year: 2021/2022 Ms KEFFI. F

Commercial Sciences Department Specialty : Marketing

Lesson 01: Marketing

Definition of Marketing:

* Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. It
includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done
by affiliates on behalf of a company.

* A simple definition for marketing is that it is the creation and satisfaction of demand for your product, service or
ideas. If all goes well, this demand should translate into sales and, ultimately, revenue.

Is marketing a science or an art?

The debate over whether marketing is an art or a science has been raging for over years.Marketing has certain
principles, which may not be clear-cut like pure sciences; however,these rules guide the use of marketing if one wants
to achieve the best marketing result.Therefore, marketing can be both science and art.

 Marketing as a science

Science works on an experiment, research, hypothesis, observation, data collection, and interpretation, so it is
applicable. When it comes to marketing, there are also many strategiesto follow. With marketing as a science in
mind, marketers approach marketing with clear-cutobjectives, analytics, and metrics, and they analyse data to see the
more successful tactics.Furthermore, science-driven marketers analyse customer data and build a targeted audience
by using thecompelling trait and key characteristics of their best customers; this is safe to say they do notrely on
emotions in audience targeting.

 Marketing as an art

In 2014,Farlex defined art as a skill obtained by study, practice, or observation, e.g., the art of baking, carpentry, and
marketing. Artistic marketers produce sophisticated marketingmaterials that capture the mind and emotions of
marketers. This is not to say they do notunderstand marketing data, but they are creative beyond analysis and spread
sheets. Theyconvert boring, technical, and complex content into engaging and easily understood content.

Marketing by Philip Kotler:

 In 2012, Dr Philip Kotler defined 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” (Kotler, 2012).
Marketing According to theAmerican Marketing Association (AMA):

 The American Marketing Association (AMA), defines marketing as “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” (AMA, 2017).

Marketing and its Importance for Businesses:

This section, will discuss the importance of marketing for businesses

 Effective consumer engagement: Businesses must engage customers, and herein, marketing proves to be an
effective tool. Customers can be engaged by telling them what they do not know and creating good content
around your products and services.
 Building and maintaining reputation: The reputation of your business depends on how it grows and what its
lifespan is. This is where marketing comes across as a way to build the brand equity of businesses. And this
happens when the expectations of the customers are met.
 Building relationships between customers and business: For any business to grow, it must build a long-
lasting relationship with its customers. Marketing is based on demographics, psychographics, and consumer
behaviour and therefore, gives an understanding of what customers want.
 Boosting sales: Since marketing utilizes different ways to promote products or services, it helps in increasing
the likelihood of better sales. Happy customers translate into a company’s brand ambassadors automatically.
 Staying relevant: Marketing helps a business to remain relevant to the customers and its domain. It helps in
maintaining good relationships.
 Making informed decisions: The basic questions that every business has are around the how’s and why’s of
producing products or delivering services. This underscores the importance of marketing for businesses and
the fact that it links a business and society.