Marketing has become a part of society and a huge part of the American culture; one has only to observe the timeless art of Andy Warhol and the iconic Campbell’s Soup Can at the National Gallery of Art in Washington, D.C. A personal definition of marketing is creating a product or service that fulfills a need and taking the idea from a concept to the kitchen table. Business Dictionary defines marketing as “the management process through which goods and services move from concept to the customer” (Business Dictionary, n.d.) as “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 Power, 2004). …show more content…
It is the corporation’s responsibility to make every effort for this to happen. Marketing is part of this effort, think about McDonald’s corporation, and even though this corporation is a household name billions on advertising each year keep the public coming back to get new sandwiches and desserts. The fact that there is a McDonald’s every few blocks, in just about every small town, and in other countries shows the commitment McDonald’s has for making sure that shareholder continues to receive the return each has come to expect from the organization. Profit is a benefit of the marketing process.
Conclusion
Market is a process that gets the products and services of the individual and organizations in the hands of the customer. The process involves not only the physical act of placing the product in the proper locations but also creating the want for the product through the proper promotion of the product, normally through advertising (Perreault, Cannon, McCarthy, 2011). The demand for the product can create competition between firms, and this competition can foster innovation. In turn this innovation creates better products that help improve the way of life for everyone.
References
The Business Dictionary. (n.d.). Marketing. Retrieved from http://www.businessdictionary.com/definition/marketing.html The Coca-Cola Company. (2010). “Coca-Cola India
Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have
SIMULATION DESCRIPTION: Holden Evan, Inc., has long been the premium dog food market leader with its flagship Grand Champion brand. The brand targets breeders, trainers, and owners of purebred dogs willing to pay higher prices for superior nutritional and health benefits. During an economic downturn, the Grand Champion brand suffered a sharp and prolonged decline in sales. The Marketing Manager must re-evaluate the brand's marketing strategy and marketing management orientation to determine if they need revision.
Marketing is the all-embracing function that links the business with customer needs and wants in order to get the right product to the right place at the right time. It is the action or business of promoting and selling products or services, including market research and advertising. Arby’s, for example, has changed in a revolutionary way. Their marketing strategy has changed which impacted the human resource management department and the financial structure of the business.
Marketing is in a part of everyone’s daily lives. We see it the moment we turn on the television, when we go to the grocery store, and even at our jobs. When I think about marketing, I think about all of my favorite restaurants, places to go, favorite clothing brands, and shoes. All of my favorite things come to mind when we discuss the concept of marketing. When I think about marketing, I think of all of the companies that produce my favorite things. Marketing campaigns are those people who work on making the products, finding defects and making improvements, innovating and designing. I also believe that those people are interested customer satisfaction. Those people influence me to keep buying my favorite things.
Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.(Kotler, Armstrong, Saunders, Wong page 5)
"Most people think that marketing is only about the advertising and/or personal selling of goods and services. Advertising and selling, however, are just two of the many marketing activities. In general, marketing activities are all those 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
Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and qualifies the size of the identified market and the profit potential.[Dr. Philip Kotler]
Entrepreneurs do not normally realize the importance of marketing until they are not bringing in the revenue they projected that they would. It is crucial for a business owner to be educated about their customers. This is done through marketing, so it is important to understand what marketing really is. Marketing is how a business create and retain their customers. Marketing allows one to learn, generate, stimulate, and fulfill the customer’s wants and needs. With marketing the first step is to find a market pain, a problem that is causing customers to be inconveniently affected. Once this market pain is identified the business can develop a business model that will alleviate that pain.
The Department of State and Regional Development defines marketing as "finding out what customers want, then setting out to meet their needs, provided it can be done at a profit. Marketing includes market research, deciding on products and prices, advertising, promoting, distributing and selling" (2006). The Center for Media Literacy defines marketing as "The way in which a product or media text is sold to a target audience" (2003). Marketing is a critical element of the business organization. Marketing is more than simply promoting and selling a product. Successful marketing is satisfying the changing needs of the customer.
Marketing is the practice of the planning and performing the conception pricing, promotion and distribution of opinions and goods and services to generate trade that please the individual and organisational objective (American marketing association). The main objective of the marketing is to recognising and meeting social and human needs. Where the marketing is centred at the need and want of the consumers, where the industry should determine the design of the product and services.
I always assumed that marketing was those pesky sales people who were trying to get you to buy their brand of merchandise or services because they “supposedly” offer the best deal. Those ads you see that insist their product is the most recent revelation in break through products. I now know that marketing is more than that. Marketing is not just the selling but also the advertisement, research, accounting and production of products or services. Marketing is “communication the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.”
The first computers origintaed for home use were only sold in kit form to technical enthusiasts who did their own assembly. At that time, the firm offering these kits would likely be in the ........... era.
Marketing is a process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value freely with others. Since the early 1900s, marketing has been around, which many people can’t believe and don’t want to. Right around 1950s, many marketing companies was seeing that the old ways wasn’t working anymore with the consumers. That made the companies make their competition harder and harder for all those that was competing against each other for sells. Instead companies realize that it wasn’t about them it was about what the consumers wanted and understanding what their needs was or what brings them in the store to shop, which brings the marketing concept, meaning the
Place – Place is also very important in the terms of business because before opening the business they should consider the location properly that are they targeting the proper market according to their business. Place must be easy accessible for customers, suppliers etc.
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.