Marketing definition Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc. Another definition of marketing is the "selling of products or services: the business activity of presenting products or services in such a way as to make them desirable" (MSN Encarta). However, according to (Kotler & Keller, 2006) the formal definition of "marketing is an organizational function and a set of processes for creating, communication, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its shareholders"(Kotler & Keller, p.4). According to these definitions, marketing needs to cover customers' necessities and at the same time sell products to increase future revenues. However, marketing is more extensive than just selling a product. Moreover, marketing activities are all activities associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution. In other words, if a company develops a strong marketing ... ... middle of paper ... ... company will have a better scenario of the customers' needs and requirements. All the marketing standards and principle aid company profits and will keep shareholders having the benefit of high dividends in the long-term. References Donaton, S. (2004, February 23). It is time to take a fresh look at the definition of marketing. Advertising Age, 75(8), p-16. Dubrouski, D. (). The importance of services marketing for organizational change from Slovenian perspective. Retrieved September 11, 2005, from http://www.utdt.edu/congresos/empresarial/papers-ama/047.pdf Kotler, P., & Keller, K. (2006). Defining marketing for the 21st century. In (Ed.), Marketing management (12 ed., pp.). Upper Saddle River, NJ: Pearson / Prentice Hall. MSN Encarta (). Marketing definition. Retrieved September 11, 2005, from http://encarta.msn.com/dictionary_18616284551prevpage.html
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Schultz, D.E., et al., 1994. The new marketing paradigm: integrated marketing communications. NTC Business Books, pp. 105-156.
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Marketing is not a static construct, but it grows and develops over time to become what is known as marketing today. “The marketing revolution divides neatly into four separate eras’, eras’ which parallel rather closely the classic pattern of development in the marketing revolution.” (Keith, 1960). The first of these 4 eras was until the 1930’s and was production and profit orientated, and are considered to be outdated. During this era “the new product decision was product oriented not marketing orientated.” (Keith, 1960). “The second era was a sales oriented era, whereby marketing was seen as a series of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs/wants of a selected segment of the market.” (Eldridge, 1970, p. 4). The 3rd and 4th eras are a representation of what
Kotler, J., & Keller, K. (2012). A framework for marketing management. Essex: Pearson Education Ltd.
American Marketing Association Board of Directors approved the definition of marketing in July 2013 as ‘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.’, Ama.org (2015). With the growth in economy, competition and market fragmentation, the marketing became more sophisticated. The large heterogeneous markets were divided into smaller segments with similar needs, wants and buying behaviour, Kotler,P., Armstrong,G. (2014).
Kotler, Philip, and Kevin Lane Keller (2006) “Marketing Management”. Upper Saddle River, New Jersey: Pearson, Prentice Hall.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
Kotler, P., & Keller, K. (2012). A Framework for Marketing Management (Fifth ed.). Harlow: Pearson Education Limited.
Philip Kotler; Kevin Lane Keller (2009): “Marketing Management”, 13th edition, Pearson Prentice Hall, pg 61-62
Marketing can be looked at as an organizational function and a set of processes for creating, delivering and communicating value to customers, and customer relationship management that also benefits the organization. Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer behaviour and providing superior customer value. From a societal point of view, marketing is the link between a society's material requirements and its economic pattems of response. Marketing satisfies these needs and wants through exchange