What do you mean by marketing? Definitions, Key Activities, and the Difference Between Marketing and Selling

Marketing is a business orientation which has been developed as a management discipline over the years. Different authors have defined the term ‘marketing’ in various ways. If you ask the question “what is marketing?” from a salesman he will most probably tell you that ‘marketing is selling’ whereas an advertising manager might tell you ‘marketing is advertising’. If we take any layman or housewife, they might interpret marketing as shopping. 

Marketing does not mean just “selling” and “advertising”. It is true that these are parts or activities of marketing. But marketing is much more than selling and advertising. If you look at the following activities related to marketing you will realize differences as well as relationships which exist among advertising, selling and marketing.  

Basic Activities Related to Marketing 

1. Analyze the needs and wants of people. 
2. Decide which of these people you will try to satisfy. 
3. Predict the type of product or service needed by these people. 
4. Estimate how many of these people will be buying your product. e) Predict when these people want it. 
5. Determine where these people are. 
6. Estimate what price they are willing to pay. 
7. Decide which kind of promotion should be used. 
8. Decide how these people should be reached. 

         (Advertising, Sales promotion, Personal selling, Publicity) 

 

There is another way of looking at the difference between selling and marketing. That is to see the difference between selling and marketing based on business orientation/concept

Difference between selling & marketing based on business orientation

Then we will look at defining Marketing in its managerial orientation. First let us examine a few definitions developed by various experts in the field of marketing. 

American Marketing Association 

 “the performance of business activities that direct the flow of goods and services from producer to consumer of user.” 

Frederick A Russ 

“the performance by a seller, of various interrelated activities intended to bring about beneficial exchanges involving the seller’s market offering.” 

William J. Stanton (1984)

“total system of business activities designed to plan, price, promote, and distribute want satisfying products and services to be presented to potential customer.” 

William M. Pride and O.C. Ferrol (1987)

"process which consists of individual and organizational activities that facilitate the expedite satisfying exchange relationship in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas."

A major aspect of marketing has been left out in most of the above definitions i.e. the achievement of organizational objectives while satisfying needs and wants of the consumers. A recent definition put forward by the Chartered Institute of Marketing of the United Kingdom, describes marketing as "the management process which identifies, anticipates and satisfies customer requirements efficiently and profitably." This definition includes both aspects, the customer satisfaction and achievement of organizational objectives. 

By now, it may be clear to you that marketing is much more that selling. It contains a group of activities that are required for determining customer requirements and designing quality goods and services in order to fulfill their needs and wants while maximizing the profitability of the organizations. 

Therefore, we feel that we should develop a definition, which covers all the aspects referred to above and in this context the following definition seems to be more acceptable. 

Definition of marketing

Marketing is a management orientation that focuses on identifying needs and wants of the customers in the market and satisfying these needs by delivering the growth and services through exchange in an efficient and effective manner while achieving organizational objectives. 

This definition highlights three different aspects. 

• Identifying the needs and wants of the target market. 
• Delivering goods and services through exchange in an efficient and effective manner. 
• Achieving organizational objectives while satisfying customer needs. 

Now you can see that marketing is not the same as selling and it involves many activities which link the product and the consumer.