The oldest – and perhaps simplest and most natural form of marketing – is ‘word of mouth’ (WOM) marketing, in which consumers convey their experiences of a product, service or brand in their day-to-day communications with others. These communications can of course be either positive or negative. In recent times, the internet has provided a platform for mass, electronic WOM marketing (e-WOM), with consumers actively engaged in rating and commenting on goods and services.
In for-profit enterprise the main purpose of marketing is to increase product sales and therefore the profits of the company. In the case of nonprofit marketing, the aim is to increase the take-up of the organization’s services by its consumers or clients. Governments often employ social marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens. In for-profit enterprise marketing often acts as a support for the sales team by propagating the message and information to the desired target audience.
From a societal point of view, marketing provides the link between a society’s material requirements and its economicpatterns of response.
Marketing satisfies these needs and wants through the development of exchange processes and the building of long-term relationships.
Marketing is applied in enterprise and organisations via marketing management techniques.