Response to Sabita
Your viewpoint that marketing is the act of buying and selling a product and service provides a general explanation of the concept. According to Blythe (2013), marketing is a management process that involves planning and implementing pricing, promotions, and distribution of commodities to meet individual and organizational goals. Companies have varying marketing strategies, with some adopting the use of social media, advertising, and the use of discounts to attract their target consumers. I, however, respectfully disagree with your suggestion that there are 4ps of marketing. Blythe (2013), provides that there are 5ps, including price, people, place, product, and promotion. These, therefore, form the fundamental concepts of marketing.
Response to Joshua
Your supposition that marketing can be done on a local and global scale is correct. I concur with you that this can be achieved by assessing the target market to determine whether consumers will purchase a particular product or service. Numerous multinational corporations are involved in producing, selling, and marketing their commodities internationally. Such companies include Nike, Pepsi, Apple, and Adidas (Skinner, 2010). These companies have robust marketing strategies that help them to acquire market shares in many countries. You are accurate that to market their products, most companies change their labeling and standards that are acceptable in those particular nations.
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Response to Tshring
Your suggestion that marketing may involve the process of researching, promoting, and selling products is quite comprehensive. The researching stage helps companies in the identification of consumer needs and then advertising and selling their commodities to satisfy those wants. You are right to state that marketing has 5ps, which include price, promotion, people, place, and product (Hollensen & Opresnik , 2015). When marketing, marketers should identify a strategic location, their target consumers, a price that consumers are willing to buy their products at, promotional techniques, and the products that their customers need. Moreover, companies can sell their products to new geographical regions by identifying consumer wants and needs and then advertising their products.
References
Blythe, J. (2013). Principles and Practice of Marketing. SAGE. https://books.google.co.ke/books?id=2O2GAwAAQBAJ&printsec=frontcover&dq=Principles+and+Practice+of+Marketing+by+Jobber/Ellis-Chadwick+7+by+Jobber,+David,+Ellis-Chadwick,&hl=en&sa=X&ved=0ahUKEwieyZOJ7aroAhV8UhUIHRy5AQ4Q6AEILjAB#v=onepage&q&f=false
Hollensen, S., & Opresnik, M. O. (2015). Marketing: A relationship perspective. Vahlen. https://books.google.co.ke/books?id=UbySDwAAQBAJ&pg=PA486&dq=Marketing+management:+A+relationship+approach.+Pearson+Education+by+Hollensen,+S.+(2010).&hl=en&sa=X&ved=0ahUKEwiy44z_66roAhUKHMAKHS4FCuwQ6AEIOTAC#v=onepage&q=Marketing%20management%3A%20A%20relationship%20approach.%20Pearson%20Education%20by%20Hollensen%2C%20S.%20(2010).&f=false
Skinner, J. (2010). Sports Marketing and Sponsorship. Managing Football, 103-117. https://doi.org/10.1016/b978-1-85617-544-9.00007-2
