Definition Of Marketing : Management Process Essay

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

Marketing management decisions can be classified on the basis of 4 P’s. These are listed below:

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.

It is a tangible good or an intangible service that is mass produced or manufactured on a large scale with a specific volume of units.

Customer value also has many definitions. The simplest form of customer value is defined as being what customers get from buying the product and the functional use of the product versus what they pay, resulting in an attitude toward, or an emotional connection with the product. There are four types of customer value which are functional/instrumental value, experiential/hedonic value, symbolic/expressive value, and cost/ expressive value. These values come from five different sources which are information, products, interactions, environment, and ownership/possession transfer.

Advancement is one of the MARKETING MIX components or peculiarities, and a term utilized habitually as a part of Marketing. The promoting blend incorporates the four P 's: value, item, advancement, and spot. Advancement alludes to raising client consciousness of an item or brand, creating deals, and making brand steadfastness. Advancement is additionally found in the determination of five PROMOTION MIX or special arrangement. These components are close to home offering, promoting, deals advancement, DIRECT MARKETING, and exposure. A limited time blend determines the amount thoughtfulness regarding pay to each of the five subcategories, and the amount cash to plan for each. A limited time arrangement can have an extensive variety of targets, including: deals increments, new item acknowledgement, making of BRAND EQUITY, POSTIONING, aggressive reprisals, or production of a corporate picture. In a far-reaching way, there are three essential goals of advancement.

Promotion: - Promotion is that when organisation across their message to your target. Choosing the right time for advertising, there are some ways to promote the business like online advertising, newspaper, radio and fix the banners on

Products area unit product and services that your company offers to sell to your audience. Once developing a product you ought to contemplate the standard, design, features, packaging, client service and any ulterior after-sales service.

Product: refers to the item actually being sold. The product must deliver a minimum level of performance; otherwise even the best work on the other elements of the marketing mix won 't do any good.

Definition of marketing- It 's is a process in which wants changes into needs. It is the action of business that people who willing to buy something for their satisfactions. The marketing process is having direct connection with communication and requirements and the actual goal of marketing is to expand the sales of the company’s product as well as the Company’s profit. The four p’s in market

Promotion- Promotion is an attempt to make a product or evert popular or successful, especially by advertising.

Place: The place is also important piece of the marketing. In this they are find the best location for the products where more and more customers can reach towards their products. They are also concerning about the distribution channels in good location so that they can distribute the products very efficiently.

Product – Product can be defined as the goods or services which is made to fulfil customer’s demands and needs. While making the product company should take care about its quality and features must be according to the customer’s needs to satisfy them.

The business article which I came across was about extending the competitive market strategy and also it’s was in the Academy of marketing science. Its purpose is to study and also improvement of marketing scholarly research and also the practice of the publishing research and the article is a substantive domain of marketing. The marketing concept has been a philosophy that many firms should always analyze the needs of their customer and also make a need to satisfy their needs better than the competition.

The world of marketing is very diverse and can be defined and applied in many different ways. One person might be asked to give a definition of marketing and give a totally different definition than another person. Marketing importance to an organization can be different from one to the other depending on product line and ways in which the organization markets the product. In today’s paper one will look at two different definitions of marketing, the importance of marketing within an organization and three examples of marketing in the business world.