Marketing is an oft conceived word used in our daily life. It is a normal word which may often be found as a part of our day to day conversations, and has more to do with the approach then the execution of a business idea. It was first explained by the American Market Association as an “activity”. Later the definition was elaborated and modified to involve the various institutions and processes employed for making, communicating and delivering products which are of value to the stakeholders-customers, clients, partners and the society at large.
The term was derived from the original meaning which taken literally meant simply going to the market to shop or to sell goods and services there. Marketing has grown by leaps and bounds today. It is a creative industry that has expanded down to various genres such as advertising, distribution and selling. Customer base is figured out, their needs and aspirations realized and the relevant product developed accordingly. Future predictions and the expected turn the market is to take is often analyzed through various forms and types of Market research.
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