January 29, 2024

What Kinds of Organisations Engage in Marketing?

Almost any business can engage in marketing to attract customers. Nonprofit organizations that seek to promote social change may also use marketing. The types of businesses that engage in marketing include for-profit companies, consumer goods companies, business-to-business (B2B) companies, service companies and nonprofit organisations. In general, marketers are concerned about promoting products that have an intrinsic value to customers. They also focus on the costs of producing, delivering, and exchanging those products.

For-profit companies can be divided into those that market to consumers and those that market to other companies or institutions. For example, McDonald's focuses on its B2C marketing to individuals while Procter & Gamble (the maker of Tide detergent and Crest toothpaste) markets to other business and institutional consumers.

In general, for-profit companies engage in all four of the core functions of marketing: creating, communicating, delivering and exchanging. However, some of the activities are less prominent than others. For example, marketing managers create advertising campaigns and promote the existence of a product through electronic media such as web sites and pop-up ads. Other professionals, such as those involved in product development or in customer research, are responsible for identifying customer needs and incorporating features that fulfill those needs into the company's products.

Companies that participate in marketing must develop mechanisms for transferring ownership of a product to its new owner. This includes monetary costs such as purchase price and transportation charges, but it also can involve the transfer of intangibles such as intellectual property rights.

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