Introduction 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. Marketing Defined The text states that marketing is both an art and a science where constant tension exists between the formulated and creative sides. At its essence, marketing is about "identifying and meeting human and social needs". It encompasses both a set of actions which seek to identify customers' needs as well as a social process of establishing a relationship with the customer to buy their products; this relationship is vital to the long term success for a company and a critical part of the marketing equation (Kotler & Keller, 2006). The American Marketing Association provides the following definition of marketing: "Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders" (Kotler & Keller, 2006). Clearly, the value to the customer must first be defined by understanding the customers' needs including those that may go beyond the product or service a company is selling. For example, Safeway, a grocery store chain, goes beyond fulfilling a customer's need for groceries by addressing other needs, such as convenience, thru a door-to-door delivery of their groceries. While another company, Wal-Mart, is successful by making their products widely available to as many people as possible at the lowest possible prices. Again, the product is only part of the equation; Wal-Mart's marketing mix also focuses heavily on price and distribution (place). Finally, Microsoft now allows customers the convenience of purchasing and downloading their favorite software titles directly from Microsoft's Windows Marketplace website instead of having to travel to a retail store.
Marketing is the process of appealing potential buyers to products or services. Marketing is a two-way process that aims at achieving mutually beneficial sales
Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
With respect to the general rationality and general nature of marketing, there is significant scriptural substantiate or the practice of marketing. This support is particularly clear to consumer service orientation. So, the basic hidden presupposition of the marketing concept is that the way to achievement lies in the fulfillment of purchaser needs and wants. As opposed to the production and promotion orientations, the modern marketing does not approach what can the consumer do for us, but rather what would we be able to accomplish for the
These services would fulfill the consumer’s needs and desires by providing them with adequate services. However the service proves to be quite different based on the need of their customer. Wal-Mart was force to focus on the strengths verses their weakness. The strengths being that they were loyal to their consumers by indicating their needs and objectives over their organization policy and procedures. Later, they begin to realize that this feature alone was not enough for the company to thrive successfully so they begin to further investigate their marketing approaches by analyzing the consumer’s manner of shopping and that determined they had missed the mark and this method was viewed as a weakness.
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.
Marketing was conceived in the 20th century, it was not definitive concept that could stand alone. It was associated with other form of business such economics and advertising. It was not until marketing researchers from several college to collaborate to established they needed to further investigate the concept. Marketing have many definitions per several sources but the one definition that is the most credible is the definition from the American Marketing Association. It states “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.”
Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
The concept of marketing has constantly been evolving over the past years that there is no specific and precise way to define marketing. Thus, many different marketing definitions emerged and challenged other marketing perspectives. The first official marketing definition was developed by the American Marketing Association (AMA) (Gamble, Gilmore, McCartan-Quinn & Durkan, 2011). The AMA (1960, as cited in Kotler et al., 1983) defined marketing as “the performance of business activities that direct the flow of products and services from producer to consumers” (p. 7). Kotler (2009, as cited in Gamble et al., 2011) defines marketing by which individuals and groups of people acquire their needs and wants through a societal process of creating, offering and exchanging products and services of value with others. Marketing is also described as human activity targeted at satisfying the needs and wants of others through exchanged processes (Kotler et al., 1...
Marketing is the process in which the company communicates with the consumers to show the value of a product or a service in order to sell it.
It discusses broadening the concept of marketing and new approach to marketing, which emphasises on social and relationship marketing. Then, the government/public sector has been introduced and it proceeds with whether traditional marketing principles can be applied to the marketing of organisations in this sector. It concentrates on issues of relevance-how marketing mix fits to it, what are the benefits and constraints. 1.1 The Marketing Concept and the Marketing Mix: Before proceeding further, it is essential to define what marketing is: Kotler (1991) defines marketing as “a social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others.
When it comes to marketing, people have diverse opinion about marketing but most people define the marketing as “Marketing is the activity, set of institution, and procedures for creating, communicating, delivering, and exchanging offerings that have value for customers, partners, and society at large”. However, marketing plays an important role in American lives due to their consumerisms. We live in a market-oriented world where almost everything has its price. The market functions based on the need of the people, and cover both rich and poor societies. Therefore, all people have been treated per their living standards.
A good definition of marketing is the process of the intermediary function between product development and sales. (Reddy ) The field of marketing entails taking a generic product or generic service (the product or services do not have to be “generic” they may be actually unique to the marketplace) and associating the generic product with a brand name (Petty 2001). Under this generic concept are the activities of advertising, public relations, media planning, sales strategy and so on.
...nd this approch will ensure organizations to obtain high returns (Kotler, Armstrong,Wong and Saunders, 2008:17). Moreover, according to Kotler and Keller (2012) marketing definition is “meeting needs profitability” (Kotler and Keller 2012:27). This definition signals the necessity of satisfying the target and potential consumers according to their special needs and as an outcome the company is obtaining a revenue to benefit itself. So to say, both sides are satisfying their needs. First of all, being successful compared to the other competitors is possible by identifying the market, consumers preferances and also competitor’s strategies for the consumers and acting afterwards in the market. Having defined “marketing” and “marketing concepts” before, it is important to understand “marketing orientation” and which stages of marketing it consists of.
Marketing is defined as follows: Marketing is the process of interesting potential customers and clients in your products or services. In this essay, I am going to address the concept of “social marketing” and how does social marketing differ from “societal marketing” or “socially responsible marketing” in the first part, and in the second part, I am going to provide examples of each of the three approaches to marketing and analyse how these represent a departure from traditional marketing practice.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits