P1: Explain the key roles and responsibilities of the marketing function in your chosen organisation.
What is marketing?
Marketing is a management process by which a concept of a good or service transform into a product for the customer. Every business success lies on it marketing. Marketing has been defined differently by different authors but two most accepted definitions of marketing are that given by the UK’s Chattered Institute of Marketing (CIM) and the American Marketing Association (AMA) as follows:
“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)
“Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (CIM, 2001)”
What is marketing function?
Marketing function is a role within a business organization that helps to identify a product potentiality in a marketplace and promote the product to the market differently from the similar products. Marketing function is a vital part of any business organization.
The key roles and responsibilities of the marketing function
Marketing is a bridge between producers and consumers and marketing function is the link of this bridge. Marketing function plays its role by various components such as: Researching Pricing Buying Promotion Distribution Storage
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]
The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved October 2007) http://www.marketingpower.com/aboutama/pages/definitionofmarketing.aspx
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
What is marketing? Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy both individual and organizational goals. Marketing also include being able to get the goods from the producer to the consumer. The producer is responsible for the design and manufacture of goods. Marketing also includes market research and product development, design, and testing. Marketing concentrates primarily on the buyers, or consumers and determining their needs and desires. Companies then need to stress the availability of products and the important product features. You then need to develop strategies to persuade them to buy and keep their satisfaction with the product. Marketing management includes planning,
Marketing – The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.
Definition of marketing is the management process through which goods and services move from concept to the customer. For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold. Marketing is based on thinking about the business in terms of customer needs and their satisfaction.
“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)
Marketing - The marketing function is responsible for identifying, anticipating and satisfying customer requirements. The marketing function have to carry out market
According to The Chartered Institute of Marketing in United Kingdom “2015” marketing is ‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably '
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.(Gundlach, G. T., & Wilkie, W. L. (2009) p.260) .
What is marketing? Almost every marketing textbook has a different definition of the term "marketing." The American Marketing Association (AMA) uses the following: "The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." From this definition, we see that:
Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.
Marketing is a process of identifying and satisfying the consumer needs and wants by creating or exchanging product.
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