Impact Of Marketing On Marketing Management

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

According to the American Marketing Association, marketing is the “activity, set of institutions and process for creating, communicating, delivering, and exchanging offers that have value for customers, clients, partners, and society at large” (2014). Marketing is a relatively new concept that was first introduced in 1910 and referred to as sales. Although the 1950’s is considered to be the beginning of the marketing era, it was not until the 1980’s that marketing was considered to have begun in healthcare, other than the pharmaceutical industry (Thomas, 2005).

How is marketing defined? What is its importance in a company’s success? This paper will discuss and explain different definitions of marketing along with a definition of author himself. In addition, this paper will elucidate the importance of marketing by giving three examples where marketing was adapted with few mistakes resulting in disaster.

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 a strategy that all organizations use in today’s society. In one way or another, business’s today need to market their purpose of existence. Although the strategy of marketing may be different in every industry, the basics of marketing are often times the same.

Marketing can be defined as communication between consumer and producer (Hackley, 2013, page29). This subject is progressing as

Marketing today is virtually present in all aspects of life and it addresses virtually anybody, from young children to senior consumers, and selling anything from toys and diapers to medicine. And in ensuring an increase in the demand for the advertised product, often times marketers use deception in their campaigns.

As of today, we understand marketing to be a process where the goal is to know the needs of the costumer, and match these with the organizations ability to fulfill these expectations. For this to happen successfully, it is important that the organizations understands both who the costumer is, what value the costumer requires, as well as how to deliver this value in the best possible way. Had it not been for the history of marketing as we know it, our view on modern marketing might have been very different. Whether the difference would have made a positive or negative impact is hard to know, but one thing is certain. The history of marketing is important to understand in order to learn about marketing itself.

The birth of ‘Marketing’ happened centuries ago where vendors in ancient times tried to seduce the oncoming customer by chanting in loud noises and catering to the customer needs by negotiation of price or assumption of what they might need aside from what they were actually looking for. Over the years, this process has been refined, given a

Marketing is as old as civilization. According to D. Steven White there are five different phases of evolutions which are Simple Trade Era (pre- industrial revolution), Production Era (1860’s-1920’s), Sales Era (1920’s- 1940’s), Marketing Department Era (1940’s-1960’s), and Marketing Company Era (1960’s-1990’s). Traders are example of simple trade era because they engaged in persuading others to trade different supplies. For example, our ancestors once traded food for supplies, and vice versa. Back around the time of World War Two people were always limited to supplies so they had to trade to get the supplies they needed. Around the 19th century people started to build their own business, they believed the customers will come to them. However, around the 1920’s through 1940’s many more people started to create

Let's have a brief discussion about the importance of “Marketing”, why it should be prioritized the most in starting a new business venture.

Over the years, there has been an absolute change in innovation in the marketing field. The first change that has been extremely significant was the development of electronic computers. John Atanasoff and Clifford Berry first invented the electronic computer in 1940. The two were graduate students at the Iowa State College. They were both trying to come up with a method to solve linear equations.

data they collected found that potential stakeholders looked for personalized schools that met the need of their child. The relationship that was formed by the school and the potential student was driven by market demands. Their work points out the strain caused by the market pressures of consumers which may alter the quality of the education and the mission of the school.

By contributing to the bottom line, successful marketing also allows firms to more fully engage in socially responsible activities.2 CEOs recognize the role of marketing in building strong brands and a loyal customer base, intangible assets that contribute heavily to the value of a firm. Consumer goods makers, health care insurers, nonprofit organizations, and industrial product manufacturers all trumpet their latest marketing achievements. Many now have a chief marketing officer (CMO) to put marketing on a more equal footing with other C-level executives such as the chief financial officer (CFO) or chief information officer (CIO).3 Making the right marketing decisions isn’t always easy. One survey of more than a thousand senior marketing and sales executives revealed that although 83 percent felt that marketing and sales capabilities were a top priority for their organization’s success, in rating their actual marketing effectiveness, only 6 percent felt that they were doing an “extremely good” job.4 Marketers must decide what features to design into a new product or service, what prices to set, where to sell products or offer services, and how much to spend on advertising, sales, the Internet, or mobile marketing. They must make those decisions in an Internet-fueled environment where consumers, competition, technology, and economic forces change rapidly, and the consequences of the marketer’s words and actions can quickly multiply.

Although marketing was and will always be changing there is a fundamentally important range of eras from the 1900’s to the current day that marked dramatic changes in the way marketing was thought of and how it was implemented.