How Marketing Is Both An Art And A Science

1405 Words6 Pages
1. Introduction Marketing is both an art and a science (Kotler, et al., 2013). One of the shortest definitions of marketing is “meeting needs profitably” (Kotler, et al., 2013). A more narrative definition from the American Marketing association’s website describes marketing as the activities, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large (Anon., 2013). Fairfax Media Ltd (Fairfax) runs The Sydney Morning Herald and The Age online Shops (the shop). The shop works to deliver value to Fairfax, its customers and partners, by profitably offering suitable consumer products, whilst providing excellent customer service and satisfaction. This report looks at an opportunity the shop has in working with a leading artist to produce Giclee prints from the artist’s work. It provides the information that could be used in a marketing plan with an overview of the current marketing situation with background on the market segments, the product, competition and distribution. It includes a market analysis, objectives and the marketing strategies. This will help the shop in preparing to launch the product, providing it with direction and focus required to meet objectives. 2. Current Marketing Situation Fairfax, a 180 year old company, is a credible and trusted voice. With a broad portfolio of media brands across Australia, it commands a vast and highly engaged audience,
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