What is Marketing?

In the previous article developed the concept of "market" and "exchange". In addition, it conducts a brief presentation on the evolution that has taken the orientation of the activities of the organizations in relation to the exchange.

Marketing takes up the elements that were used in each of the periods that preceded the period of marketing. Now these elements are used taking into account the client, thereby seeking to meet their needs or desires, in addition to achieving influence the behaviour of buyers and consumers.

These four main elements on which it is based marketing are: Product (goods, services or ideas), "The Price" (exchange value), "The Promotion" (sale of the product) and "Distribution" (as you get the product to the customer). Taking into account the above so far, is moving to define the concept of marketing.

"Marketing is the set of activities carried out by an organisation with the aim of planning the best combination of elements: product, price, promotion and distribution that best meet the needs or desires of the target market, and to achieve the goals of the organization. "

All those efforts to publicize the perception, acceptance, needs, desires, tastes and preferences of buyers and / or consumers in a market and to develop a product that meets the demand which wants to buy, as well as the establishment the price at which they are willing to pay for a product, as well as to learn about promotions that some day you motivate a purchase, and the place where he expects to find the products of all these activities is to what is called marketing.

To develop a marketing plan is necessary to be clear which is our target market. The bulletin earlier defined the market as any individual or group of individuals who exchanged goods or services (products) to meet their needs and desires, which have the money and desire to spend.

But for an organization it is very difficult to design a product that meets an entire market. It is for this reason that the market is divided into smaller portions with more similar characteristics. This activity is known as the "market segmentation".

The segmentation of a market is based on five factors, which include: demographic, geographic, psychological, sociological and economic.

The demographic factor is related to the characteristics of the population, the geographic relates to the territory of location; refers to the psychological characteristics of personality; sociological relates to the lifestyle and values; finally, the economic is to do with income levels.

Once the market is segmented choose the portion (segment) market desire meet. This segment or segments of the market that has been chosen to attend what is known as "Target Market".

So, what is a target market?. The target market is the set of individuals or group of individuals for whom a manufacturer develops a marketing plan.

As an illustration, look at the product market and specifically the product Tourist accommodation, a senior executive who visit El Salvador for work prefer staying in a hotel in the capital city one at the beach or the mountains, as well as being a high executive accustomed to luxury and comfort will not import the cost of staying in a hotel that meets their wishes to receive a service to provide comfort, prestige and luxury.

In contrast, other tourists seek more than prestige and luxury hotel that will give them comfort at a lower cost and to provide options to relax and have fun.

As can be seen in this illustration are two market segments, one for travellers working with high incomes, lifestyles accustomed to luxury and comfort, and another segment composed of travellers who seek rest, and with income minors. These two hotels are located within the same market, but each decided to attend a different segment of the market.

In the first case the target market would be tourists for work, which have high incomes. In the second case, the target market will be shaped by those tourists who seek rest and having average income. Each design your marketing plan based on your target market, which has been proposed meet.

In short, marketing is the set of activities carried out by an organization in order to develop the marketing plan.

The marketing plan should contain the best combination of elements: product, price, promotion and distribution that best meet the needs of the target market.

The target market is obtained to segment the market based on demographic, geographic, psychological, sociological and economic. The marketing plan should enable the organization goals are achieved.