Market vs. Marketing

Market vs. Marketing

Market and Marketing are two terms which relate to facilitation of supply and demand match.

The market is a place, physical or virtual, where buyers meet sellers in order to make an agreement of economic transaction where goods or services are sold and bought at a set price. In that sense, the market acts as price fixing mechanism as well as collective socio-technical organization that impose certain regularities.

On market the demand meets supply and oppositely, so trade occurs. Markets discover the relation of production and consumption. They verify the match of consumption side to the products and services that producers can offer.

Marketing is a group of tools and activities which facilitate trade. Thus, marketing activities aim at improving trade and access to goods and services which are demanded and supplied. In that sense it represents the entire process of goods distribution and the process prior to distribution.

According to American Marketing Association, marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

The marketing uses a mix of activities which aim at promoting the company's brand or product in the market. These activities deal with pricing, product selling and placement, promotion, distribution, packaging, positioning, people management, costs, customers and competitors. The above activities compose so called "marketing mix"

So, in summary:

Marketing produces, change and enlarge markets. A market is a system of rules, while marketing is a system of tools. Market match demand with supply, while marketing creates demand. Demand and supply are fixed at the market, while being a subject to change in marketing.

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