What is Marketing?

  

 What do you understand about marketing and its economic role? 

Although marketing contains many functions, marketing always begins and ends with customer. After identifying the basic needs and wants of its customers, marketing tries to fulfil marketing needs and wants better than the competitors. As a field of study, marketing has been defined by various authors in different purposes. 

But for this purpose, Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging alaabta iyo qiimaha kuwa kale. 

To explain this definition further, let us define the basic concepts involved in the process of marketing. Needs and Wants: Think about what you really need: food, shelter, clothes, friends, love, knowledge, to stand first in your class, or to be a doctor, or a musician.All of these 

are your needs. Needs are very basic things that are essential to your physical,  psychological, and social well-being. When your needs are not met or satisfied, you  feel negative and have the courage to change the situation. Your wishes are based on your needs, but they are very specific. When you are 

hungry, you need food, but you may want "kitfo" or "doro wat", or hamburger  depending on your experience, culture, and personality or any other factor. Inside 

developed countries, people have many choices. But in poor countries, like ours, we  have limited options. Manufacturers do not create demand, but shape our desires 

providing many alternatives. If producers are accurate in assessing our wants and  needs, they will give you products that are very satisfying.If they don't 

know needs and wants of customers, it will be difficult for them to sell their products. Exchange and transactions: How do marketers know what to produce? How can they be  sure that their things will satisfy our wants and needs?Market economy, 

the exchange process is the mechanism that enables producers to identify consumer  preferences. When we exchange something of value (usually money) for something else 

such as goods or services, we vote for that item; The producer of the item  is encouraged to make more of them.In this way, supply and demand are balanced. 

and society obtains the goods and services that are most satisfying. In order to make the change, there are certain requirements. At least two parties (seller 

and buyer) must participate. Each party must have something of value

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