When we talk about marketing, the first thing that gets into our minds is the promotion of companies to attract more customers and thus generate more profits. Marketing is a broad science in itself and has many tools that contribute to make profit and attract more customers. In this chapter we will focus more on marketing: concept, terminology, importance, researches, and marketing channels.
Marketing is defined as the art and science of choosing and targeting markets and getting and retaining more customers by communicating with them through marketing channels to deliver value you offer to them.
Given the difference in consumer spending over the last few years, purchasing power has increased and its ability to compare different products as being diversified and provide great information and accessibility. You may need marketing tools to reach your potential customers.
Marketing activity means every activity that helps to sell your products, goods or services. However, people do not want to buy just any products, goods or services. People want to buy solutions to their problems. They buy products, goods or services that help to solve their problems.
For example, someone will buy bread because the problem is hunger. Someone will want to build a house in order to solve the problem of where the family will live. Someone with a broken motorbike will bring it to the repair shop, not because they want to, but because there is a problem with the motorbike.
It is worth mentioning that you must identify your project or company based on the needs you fill or the solutions you create and not on the products that produce them because this would frame your project with limited products and therefore not ensure that your market will continue.