One of the simplest ways to define marketing is “meeting peoples’ needs profitably”. This concept of marketing has been existing ever since humankind tried to survive in a community. Reaping benefits out of transactions became possible only when there was an attaching allure to the product or service in question. “Would the offering satisfy any need of the person concerned?”- this is the burning question they tried to solve unconsciously.
In 1820s, almost 200 years ago, a chef named Hanaya Yohei successfully identified the needs of the hungry people who crossed Sumida River. He noticed that the people were busy. Not having enough time and nutrition was seen as an opportunity by Yohei. He concocted a new way of cooking rice with rice vinegar. This alone wouldn’t have helped him sell the product successfully. He made bite-sized hand-rolled portions in a stall very close to the mouth of the bridge!
Yohei’s ingenious combination of innovation AND marketing made sushi a national dish in no time. Of course the circumstances in Japan at that time contributed to the spread as well. What we have to take away from this little story is that understanding the needs of people to give them what they want can be achieved with your own personal style and capacity.
Anything ranging from goods & services to concepts & ideas can be marketed to people who need those in their lives. While this constitutes the most basic understanding of Marketing, this branch has evolved so much that we use methodical studies to manage marketing in various industries. In the next posts, I will try to explain the complex world of marketing where consumers are really the Kings and Queens.