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 Marketing Is
Marketing is the process of identifying, anticipating and satisfying customer needs profitably — not selling, but the whole customer-centred process. The modern marketing concept starts with what customers need and then designs 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 and selling raw materials and resources
- Industrial (B2B) markets — businesses selling to other businesses
- Intermediate (reseller) markets — wholesalers and 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 ErrorDo not 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.