All about a commonly misunderstood term..."Marketing"

Well readers, Do u know what marketing is all about..?? It always happens that the term " Marketing" is always misunderstood as pushing your product into the market,to generate some revenue from it. But is this Marketing all about..??

I say no,before you get into deep about Marketing you should get the basic impression what marketing is.This post will give you a basic idea on what marketing.Think about marketing as "inbound" and "outbound" marketing.

Inbound Marketing:

It includes the Market Research to find out:

1. What specific groups of potential customers/clients (markets) might have which specific needs (nonprofits often already have a very clear community need in mind when starting out with a new program -- however, the emerging practice of nonprofit business development, or earned income development, often starts by researching a broad group of clients to identify new opportunities for programs)

2. How those needs might be met for each group (or target market), which suggests how a product might be designed to meet the need (nonprofits might think in terms of outcomes, or changes, to accomplish among the groups of clients in order to meet the needs)

3. How each of the target markets might choose to access the product, etc. (its "packaging")

4. How much the customers/clients might be willing pay and how (pricing analysis)

5. Who the competitors are (competitor analysis)

6. How to design and describe the product such that customers/clients will buy from the organization, rather than from its competitors (its unique value proposition)

7. How the product should be identified -- its personality -- to be most identifiable (its naming and branding)

Outbound Marketing includes:

1. Advertising and promotions (focused on the product)
2. Sales
3. Public and media relations (focused on the entire organization)
4. Customer service
5. Customer satisfaction

Too often, people jump right to the outbound marketing. As a result, they often end up trying to push products onto people who really don't want the products at all. Effective inbound marketing often results in much more effective -- and less difficult -- outbound marketing and sales.

Source: Referred to the books of good authors in my Campus Library.