This complete preview comes from the Marketing unit. It introduces the core language, shows the method in context, and gives you a real example of the lesson quality before you create an account.
What is Marketing?
Marketing is the process of identifying, anticipating, and satisfying customer needs profitably. The modern marketing concept is customer-centred (starting with what customers need, then designing a response), in contrast to an older "selling concept" that starts with a product and tries to persuade customers to buy it.
Types of Markets
- Resource markets — buying/selling raw materials and resources
- Industrial (B2B) markets — businesses selling to other businesses
- Intermediate (reseller) markets — wholesalers/retailers who resell goods
- Consumer markets — mass market (broad appeal, one offer) vs niche market (a small, specific segment)
- Global markets — customers and competitors beyond the domestic economy
Common ErrorDon't confuse "selling" with "marketing" — selling (persuading someone to buy) is just one small element of promotion; marketing is the whole strategic process, from research through to after-sales service.
Scenario
A B2B software company markets to procurement managers at other businesses (industrial market) very differently from how a consumer snack brand markets to shoppers in a supermarket (consumer mass market) — different research, messaging, and channels for each.
Practice QuestionExplain the difference between the marketing concept and the selling concept.