Marketing and Markets
Most people, including one vice-president of marketing whose ignorance of the term was the cause of his removal, have only a vague idea of what marketing is. “Marketing” and its congeners “market” and “marketplace” are, through this ignorance, much maligned and misunderstood terms. Most people use the words, sales‘n’marketing or marketing‘n’sales, as if they were one, spoken in one breath. Marketing departments are responsible for investigating the needs of customers/consumers. Selling involves interfacing with the customers in the selling arenas and using the promotional and advertising materials to advantage. Sales personnel armed with the fully tested and finished product and the tools designed to sell the product then proceed to the targeted customer in the various marketplaces where the market for the product is located. Marketplaces are very simply where selling takes place. The global village is a relatively new and catchy phrase that came into vogue in the latter half of the 20th century.