Marketing Theories

The process of marketing has sometimes been referred to as both an art and a science. Marketing has been defined as the process of relaying the value of a product or service to customers. The end purpose of this process is to sell that product or service to customers.
Marketing fulfills an important function in society by providing the link between a society’s material needs and its economic patterns of response. Marketing satisfies these wants and requirements by building long term relationships with customers through an exchange of information.
Marketing can be understood by considering the concept as an organizational function and a set of processes for creating, delivering and communicating value to customers, and managing customer relationships in ways that also benefit the organisation and its owners. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value.
However, marketing is also considered an art because marketing tools do not sell products and services; it is the relationships which sell the products and services. Creating an effective marketing strategy that produces results is not merely using available marketing tools and options. Marketing success is not just about being familiar with the various marketing technologies, strategy or tools. Successful and effective marketing comes from an understanding of the underlying relationship with the customers and of how to put the intricate pieces of a marketing puzzle together to forge a unique and distinctive marketing thrust that would enhance that relationship.
In the book, “The McGraw-Hill 36 hour course on Online marketing” by Lorrie Thomas, the author mentioned that “Online Marketing is like the Wild, Wild West: it has few rules, endless opportunities, and a vast open space. The innumerable possibilities can be exciting, but the geek-speak and limitless choices can sometimes seem overwhelming.”
This is true as a brief review of the online web tools available such as website design, content marketing, blogging, social media marketing, web analytics, search engine optimization (SEO), online marketing/search engine marketing, e-mail marketing, online public relations just to mention a few, can be bewildering.
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