Is Marketing Art or Science

1647 Words Sep 1st, 2008 7 Pages
Marketing has defined as “a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others” (Kotler, P. & Armstrong, G., 2001, p. 6). “Marketing is the anticipating, management, and satisfaction of demand through the exchange process. It involves goods, services, organization, people, place, and ideas.” (Evans, R. & Berman 2007, p. 7).

It might never arise to manager that they could be accountants or CFOs without sufficient training, but nowadays, in many organizations the marketing functions are carry out by people with little to no formal training in the discipline. Many have misperception that “Marketing Is Art” as if there is no “science”
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Clearly, science plays an important role in decision making and provides different kind of decision toward different strategy.

“Market research is the systematic design, collection, interpretation and reporting of information to help marketers to solve specific marketing problem or take advantage of marketing opportunities” (Pride, W., Elliot, G., Rundle-Thiele, S., Waller, D., Paladino, A. & Ferrell, O., 2007, p. 87). Marketing research is crucial to market segmentation, which involves subdividing a market into clear subsets of customers and choosing the target market. In today’s technology, many firms use a business philosophy which known as Customer Relationship Management (CRM) to understand customer need and to build, nurture and sustain long-term customer relationships than ever before. Statistical data are collect base on customer information such as names, addresses, contact numbers, age, sex, number of children, etc. These customers information are use to analyze which types of customers are best for their business by create a details profiles such as customer preference. These enable a firm to market their customer in personal way by using the information gained from them. Market research systematically gathering, recording and analyzing data about specific issue related to the marketing goods, services, organization, people, places and ideas. Many
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