What is Marketing?
Let’s first look at what Webster has to say about the meaning of “marketing” – (1) the act or process of buying and selling in a market; and (2) the commercial functions involved in transferring goods from producer to consumer. A more commercial definition of marketing that might be found in a high school or college text could read something like this: “creating a sale with the consumer for your product and/or service.”
Then, let’s look at Webster’s definition of “promoting” – (1) to forward or further, to encourage, to advance; (2) to raise to a more important rank, to contribute to the progress or growth of, to urge adoption of or advocate; and (3) to attempt to sell or popularize by advertising or by securing financial support. Again, a more commercial definition of promoting might be something like: “bringing the consumer to your product and/or service.”
These definitions tell us that we need to be involved in both promoting and marketing! It is the act of promoting that creates enthusiasm and brings us the traffic. It is the act of marketing that defines the sale of a home or signing of a lease. Without both of these tools in your toolkit, you would have a really hard time filling, re-filling, or upgrading your community.