What is Marketing? Definition of Marketing, Marketing Meaning and Concept

Marketing is the set of activities developed to facilitate the sale and / or ensure that the product finally reaches the consumer.

Being the commercial exchange, the activity of buying and selling goods between two contracting parties, this act is fundamental in trade and has an impact on the market for goods, services and intellectual property.

Marketing is a very old practice, in its beginnings barter was used as a form of exchange, to get those products to which there was no access. From ancient times to the present day, marketing has evolved, and one of the factors that has favored trade has been trade agreements.

The phases of commercialization of a product

To market a good or service, the marketing and commercial area are responsible for promoting demand and selling the products to the different markets. To achieve this objective successfully, they must analyze the characteristics of the markets, the competition and establish a marketing plan. Being the key variables in the marketing process: the product, the price, the distribution and the promotion ( marketing mix ).

International trade

One of the most widespread forms of commercialization is foreign trade. Like any other commercial relationship, it is based on the exchange of goods and services between companies located in different countries. When the exchange relations take place, for example, between member countries of the European Union, it is called intra-community trade. The opposite case, a commercial exchange between a country belonging to the European Union and another foreign country outside the Union, is called extra-community trade.

Foreign trade implicitly involves a relationship of provision and consideration of different elements. What a company or country needs and what another company or country can offer. These elements are:

  • Goods: They are tangible goods, being the export the exit of goods from one country to another; and importation of goods entering a country from a foreign country.
  • Services: They refer to a provision of activities, such as intangibles, in the case of an export or import of services, this is manifested according to the movement of money.
  • Capitals: The exchange of capitals, refer to investments and monetary movements. For example: the movement of currency between companies located in different countries, originating from an export or import operation of goods or services.

Different meanings for the concept

In any case, the word marketing has a very broad meaning and could appear with other more specific uses.

For example, when we want to know if a company sells a product, there are those who say: "Does this company still market X product?" By trading he refers to whether he sells it, whether he does trade with it. It may have stopped producing it, but since there are units available for sale, you could continue to trade it.

On the other hand, the concept can be used referring to international trade or more focused on marketing. There is no more correct use than another, since this will also depend on the country in which we are. In addition, many, if not all, areas of the company are important to commercialize a product. Since the marketing department will decide the strategies, those in charge of producing will modify their processes, the financial and accounting departments will have to take into account the new product and the company's stores or sales will have to include it in their catalogs.