Defining Marketing for the 21st Century

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. (Approved October 2007) http://www.marketingpower.com/aboutama/pages/definitionofmarketing.aspx

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

j.Explain and justify which of these your business may use when marketing their product or service (one of the businesses products/services you have explained within task d).

9. (TCO 8) The marketing manager is responsible for choosing how to implement which? (Select all that apply.)

3. The marketing strategy of company is not so convincing because they can extend their product range with good

A (347) 2. The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following marketing eras?

2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

The use of 4 P’s, on the other hand, ensures maximizing the resources of the company. When considering price, place, product, and promotion, all aspects of the product/service are considered. Both distributors and customers are emphasized. Equally important, the company’s perspective is taken into account, especially in finding cost-effective ways to make, distribute, and promote products and services. The sales philosophy, which “engages an organization to seek out customers aggressively and persuade them to consume existing offerings,” is part only of the promotion part (Morgan 1996, p.20). This sales philosophy must be combined with cost philosophy, “The only way to improve our profits is to reduce our marketing and production costs,” to safeguard the profitability of products also.

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

Q#1 Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty

Many people think of marketing as “selling stuff to people.” To the contrary, the three most powerful marketing concepts, in essence, do not involve selling stuff to people at all. They instead work to create

“Marketing is not a function; it is a way of doing business . . . marketing has to be all pervasive, part of everyone's job description, from the receptionist to the board of directors.”

“Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value."

Definition of Marketing – Marketing can be defined as the process of converting wants into needs. In other words it can be defined as the process of selling products or services to the customers by an organisation.

Peter Drucker: The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.