Defining Marketing
Marketing is more than commercials on the television or billboards that dot the highways, they are more than advertisements in the paper or salesman attempting to sell you their products. Many believe that this is marketing but marketing is so much more complex than the advertising and the selling of goods and services. Marketing is the process of interesting potential customers and clients in your products and/or services. (Ward) Another definition is "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives." (Boone & Kurtz, 1998) Marketing evolves from the birth of an idea that a customer may want or need and satisfying that customer. In order to satisfy particular customers a company must set up some controlled variables or Marketing Mix. Product, place promotions, and price make up the marketing mix and are know as the four P’s.
Marketing is about analyzing the needs of the consumer, predicting the consumer’s wants and estimating how many consumers want the product. Marketing needs to determine the location the goods and services are needed and how will the product get there, decide types of promotion necessary to inform potential consumers about the product, estimate how many competing companies are producing the same type of product and figure out how what type of warranty service may be required. These a few items are required to market a product. (Perreault & McCarthy, Jr., 2004, 2/1)
Marketing is important to the success of the organization. If the organization does not lay out the groundwork properly, the organization may not be able to adequately sale the product. The must be a market for the product that and organization wants to sell and the distribution network must be thought out. Colgate is a prime example of a well thought out plan on distributing toothpaste to rural India. Dealing with a population that few have a television and unable to read and no stores to shop at Colgate came up with a plan on how it could distribute and sale toothpaste to this group of people. Colgate sent a van with a generator and video gear on market day. With music playing to entice the men and an infomercial defining the benefits of using the product, the Indians are buying more then 17,000 tons a year.
(A) Marketing- the management process through which goods and services move from concept to the customer. The main purpose is to increase sales of the project and profits of the company.
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 is a very powerful tool. Unknown to many individuals, the influence marketing has on them is far more than mere visual and audio stimulation. It effects their perception of their surroundings and themselves. Marketing how the power to form our perception of life. A successful company understands this principle and harnesses the power of effective marketing.
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create or exchange to satisfy individual and organisational objectives.
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.
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
Marketing is the process to creating a plan which covers the 4 p’s. These include product, place, price and promotion.
In order to achieve this the marketing mix must be put into use (the 4
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.
Many educators and practitioners define marketing in different methods. The core idea of marketing is to satisfy the customer needs and wants. Marketing is the process of planning and executing the conception, distribution of ideas, promotion, and pricing, goods, and services to create exchanges that satisfy individual and organizational objectives. But in short, marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
Marketing is a activity through which the producer gives the information of the goods he has produced , and that buyer can get knowledge of the product he is buying .
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.
Marketing is a function that needs to be proactive as most of the times even the customers themselves are not aware of their specific needs. What they feel is just lack of satisfaction from using different products available in the market for satisfying needs. Herein comes the importance of Marketing as it has the art of visualizing and seeing factors which are invisible and telling the customers what they actually need and fulfilling it by offering products that are superior to that of available options;
We often hear people talk about marketing and some of its functions. But what does the term ‘marketing’ actually mean? Various definitions have been suggested. In 1976, the Chartered Institute of Marketing described marketing as ‘’the management process that identifies, anticipates and satisfies customer requirements profitably’’ (Watkis 2008). This definition suggests that research is vital in determining market necessities. Marketers must be in a position to predict what future consumer needs and wants will be to be in a better position to offer products and services which offer complete customer satisfaction.