Marketing
Marketing in business and economics is about understanding customers' needs and preferences, then presenting products or services that meet these needs convincingly. It takes in research, identifying target audiences, setting the right price, deciding where to sell, and promoting effectively for increased customer interest and sales. It's the art and science of attracting and retaining customers while staying profitable.
Additional Insights
-
Marketing is the process of promoting and selling products or services to customers. It involves understanding what people want and need, creating appealing messages, and using various channels like advertisements, social media, and events to reach potential buyers. Effective marketing identifies target audiences and communicates the value of a product, aiming to influence their purchasing decisions. Ultimately, it connects businesses with consumers, fostering relationships that can lead to customer loyalty and increased sales.