Question: I am studying Sales and Marketing in Tourisme and have got 3 questions to answer and those questions are on marketing.
1. What is marketing ?
2. Why marketing ?
3. How does marketing is practiceable ?
Answer: Marketing is a way of providing the needs, wants, and demands of consumers and businesses through the means of promotion to create an exchange which is usually currency.
Marketing is important for the function of any orginization requiring an exchange to survive. Marketing is a practice and even an art of identifying potential and current markets, finding a way to compete in these markets, and deploying strategies to meet sales goals which equals profitability for a company.
Marketing uses 4 basic mix concepts called the 4 Ps which are product, place, price, and promotion. Product also includes the packaging of the product including brand logos. Place is the distribution of the product which can be a warehouse or retail location. Price is the measuring of the cost of production against the profit margin. Promotion is the communication to potential buyers which usually involves advertising but can also be public relations.