Essay on Foundations of Marketing Theory

Market research consists of information collection regarding the prevalent market situation, and its analysis. “We define marketing research as the systematic design, collection, analysis, and

Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the

“Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives” (AMA,1985)

To answer the premise of the paper, ‘Defining Marketing’ a definition of marketing is a proper beginning for consideration. My personal definition of marketing is the concept or premise of a function in which products, goods or services are transferred to a consumer or client by a producer or seller. Other definitions exist to describe marketing aside from the prior definition. Marketing has been described as, “A management process identifying, anticipating and supplying client or consumer requirements with efficiency and profitability.” (Tutor2U, 2010) In that same article marketing is described as “human activities that are directed at facilitating and

The first and most important point is that all human civilization is built on some sort of trade from the food we eat, the jobs we do, and the automobiles we use to get there. Most individuals encounter and or use items enquired by trade on a daily basis.

Marketing appeared with the first human beings, a good example for that Eve’s trial to convince Adam to eat the forbidden apple (Kotler marketing Group, 2015). Since ancient times, people were meeting together at a specific time in a specific market which was known by everyone to complete the bartering process where they exchange the agriculture and craft products, they were producing. With the advent of cash, the bartering process has stopped and turned into a sale and purchase by the currency power. It is clear that the concept of marketing in this era was limited to a simple process of sale and purchase of the product between the seller and the buyer in specific market, and this has continued until the trade

In this paper, I have researched to find out how this grant empire has become and remain so successful. I found out that one of the reasons is because it has been able to maintain the goals and standards that its owner, Mr. Sam Walton has built it upon. Even after his death, Wal-Mart continues to expand and grow in other countries. Wal-Mart is considered one of the top ten global companies today. Mr. Walton’s main goal was to sell products at a low price so that people could live a better life. Another reason is because Wal-Mart uses certain market mix strategies such as the four P”. These strategies, price, promotion, product and place.

Understanding the term of marketing relies on many aspects, due to the fact that marketing itself is an integral feature of a business, as every business has its own way of marketing. Looking into books and researching the definition of marketing has proven that there are many definitions as it is combined with elements such as meeting the needs and wants of the consumers in order for them to purchase products or services. Within the Business Dictonary it has been described as “The management process through which goods and services move from concept to the customer.” (Business Dictionary, 2014) The statement above clarifies that marketing is centered around procuring given goods and services from the producer to the buyer. The facilitation of this process can be achieved through a complex program that aims to better connect the said producer and buyer, known as a marketing campaign. Such a campaign is sometimes as important as the production quality and quantity of the product itself. For this reason producers center so much time and resources on delivering a consumer-friendly premise for their products. For the purpose of this essay the focus will be on a general consumer product that has scored impressively high sales in offering goods that do not differ from other similar on the market. The marketing in question is in regard to

Marketing is the process of planning and undertaking the idea of pricing, promotion, and distribution of goods and services to create and retain relationships that will satisfy individual and organisational objectives. It also deals with customers, understanding, communicating, and delivering consumer value and satisfaction. Also, individuals obtain what they need and want by creating and exchanging products with others. Exchange process involves work. Sellers must search for buyers, identify their needs, design good products, set prices to the product, promote and deliver them. However, individuals make decisions on how to spend their obtainable resources like money before purchasing any products. This is known as

The quest of a marketing theory, where to frame the present proposal, has ended up with an interesting tour through the evolution of the marketing theory. So that, before arriving to a definition of marketing that will eventually help this proposal to clearly state its goal, it merits to mention some considerations about the process that has hitherto led us.

As the development of economy, recently more and more people focus the importance of concept of Marketing because it has already improved the people's viewpoint which how to deal the business. However, one of the most persistent conceptual problems in marketing is its definition. In the light of Philip Kotler, marketing definition consist of social definition and managerial definition. (Kotler, 2000, p7-8). According to the British Chartered Institute of Marketing, Marketing is the management process responsible for identifying, anticipating and satisfying customers' requirements profitably. (Adcock, Halborg & Ross, 2001, p3). In addition, some others define marketing as all activities directed towards identifying and

In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and

This paper presents the definition of marketing, its importance and types. In addition, the consumer behaviour, its analysis and role in marketing strategies and finally the expectancies of consumers from marketing supporters are presented.

In order to achieve better performance of marketing, marketing study is indispensable. As Hackley (2009) indicated, “Marketing studies seems to have the ability to appeal in different guises to different audiences”, meanwhile, he also argued that marketing studies is in “its most popular guise” which refers to “a resolutely one-dimensional problem-solving discipline”. (Hackley, 2009, p.45). From the author’s point of view, “one-dimensional problem-solving discipline” is a simple way of pure transactions between the seller and the buyer which is direct and straightforward. In my own opinion, “one-dimensional problem-solving discipline” means a narrow and simple mode of trades that just focuses on one specific purpose, regardless of any other significant factors of marketing. For instance, some companies merely meet the customer satisfaction, or some firms just pay attention to their own profit. All of

The definition of what marketing is varies as between individuals and professionals alike. However, most theorists agree that such a definition is dependent on the nature and scope of marketing. To this end, marketing is presented as a social science and an art. As a social science, marketing can be defined as the study of how individual and group perceptions and behavior can be influenced and sustained. As an art, marketing regards the methods and techniques of influencing the society’s attitudes and perception regarding a firm and/or its products and services; and subsequently how their purchasing behavior is influenced through deliberate actions by the firm. More often than not, marketing is viewed from the direction of the second decision.