Marketing And Customer Value And Marketing

As I reflect back over these last five weeks I now have a clearer view of marketing and how it affects not just the consumers of the world and the companies with their marketing managers, but how it affects me. Yes, I am a consumer who clips coupons, budgets my finances, and looks for sale items and this marketing class has taught me that marketing is more than selling or advertising. Marketing managers have a difficult job, as marketing involves identifying, meeting and satisfying the needs of customers or clients with goods and or services. Coming up with different strategies and marketing mixes is challenging because we live in a changing world with people who needs and financial situations are different. Yet still marketing engulfs every part of our daily lives. From what type of breakfast we eat, to where we shop, and even in our work environment. As I examine marketing, I will blend aspect to my career path as I make myself marketable for the future and aid my employer in the growth and survival in the economy.

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

Zeithaml (1988, as cited in Smith & Colgate, 2007, p. 8) defined customer value as

The first concept of the essay is the importance of marketing to people’s life. Marketing has been defined as a place that provides goods and services to satisfied people through the

Marketing plays a more and more important part in people’s daily lives. It’s hard to give a specific describe for marketing, but it does influence each people’s daily life even not everyone has a sense of marketing. It connects customer with business, its final purpose is making both customers and companies happy. As companies should realize people’s need and make their product have value for customers, they may figure out what’s customers’ expectation, how to make the design, quality, how to public them, what services they need to offer, all of them should be considered using some tools. Transnationally, this tool is marketing mix. It helps business to understand their marketing position and lead them to make a good performance in market.

Due to stiff competition, marketing has become an essential component in the management of organizations. According to Turnbull and Paliwoda (2012) marketing revolves around the manner in which organisations communicate with consumers in the market. There are two main perspectives towards the understanding of what marketing is. From one perspective, it is the manner in which organisations communicate with their consumers regarding the existing products and also commication that is geared towards creating positive perceptions in the consumer market. Thus the approach points out that marketing is a tool used for value creation. The other perspective of marketing is more comprehensive as it encompases marketing as a tool and a process in the organization. with regards to this perspective, Challagalla, Murtha, and Jaworski (2014) define marketing as: “the process of conception planning and execution, pricing, promotion and distribution of goods, ideas and services.” This means that marketing starts from the designing and producing products and services, to when they are promoted and distributed to the consumers. Marketing strategies of enhancing sales can be implemented anywhere within the

The American Marketing Association defines marketing as - It is the activity includes set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large which adds to profits ( kotler & keller, 2012). Marketing Management means the analysis, planning, implementation and control of plans or programs designed to create, build and maintain beneficial exchange with target consumers for the purpose of achieving organisational objectives. The objectives of marketing management are to create demand through different means by providing information about the utility of product, customer satisfaction, to increase market share and profit, to create goodwill and public image. Today’s marketers are focusing to maintain reputation in the eyes of their customers. The term of marketing changes as the marketing environment changes. Now, marketing functions are not limited. Customers are smarter and more

Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Marketing is one of the key measurement indicator for the success in a competitive business atmosphere but not just about promoting commodities . Shelby (cited in Ayuba, 2009) defined marketing as “ the behavioral Science that needs to explain exchange relationships’, he went explain that the study of marketing needs to understand the buyer behaviour directed at its associated consequences on society and consummation of exchange.

Marketing activity should be based not only on tangible strategies but intangible ones as well (Brooks & Simkin, 2012, Pg. 494). The Marketing Concept and Marketing Orientation principles are that marketing activities should be based upon identifying customer needs and wants (Constantinides, 2006, pg 411). Value is what the marketing strategies strive for in today’s society. Value is the

In this day and age, marketing plays a pivotal role in the business environment. Marketing is dynamic, complicated and challenging. The basic concept of marketing is to identify the need of human and society, and research how to satisfy and create those need. According to American Marketing Association (AMA), defining that marketing is the processed activity which communicate and exchange valuable offerings to customers (AMA, 2013). To be more precise, the main mission of marketing is choosing target market, creating, delivering customer value in order to develop the partnership with customer, and contribute to the organization and relevant stakeholders (Kotler & Keller, 2011). In a word, ‘marketing is to meet needs profitably’ (Kotler & Armstrong, 2011).Therefore, when it comes to launching a new product is not easy in such intensive marketing environment, it is estimated that the failure rate of new products is at 90 percent in Europe and even at 95 percent in United States resulted from high development cost, bad launch timing, poor design of product and incorrect segmentation, targeting and positioning (Kotler & Armstrong 2011). As a result, marketing is not only regarded as selling, in other word, selling is not the most vital part of the marketing process, Peter Drucker who is a prestigious founder of modern management asserted that the making selling unnecessary is the objective of marketing. The aim of marketing is to realize customer profoundly so that the product

Organizations can build strong customer relationships and value through marketing, and the success of marketing relies on satisfying the customers’ wants and needs by providing them with the best price, product, or service. The American Marketing Association defines marketing as, “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.” This exchange between customers and a business forms a relationship; a healthy consumer/marketer relationship improves value for both the marketer and consumer (Babin, pg 322). So what exactly is the definition of value? “Value is the relationship of a firm’s market offering and price weighed by the consumer against its competitor’s market offering and price” (Kothandaraman, 2001). Value is in the eye of the customer, which ultimately makes them the value source. Customers ' wants and needs determines the features and characteristics of products and their value. With business markets, the interdependent relationship between the buyer and the seller can be seen as the source of value creation (Ehret, 2004). Value Creation is “The evolution of cooperative buyer– seller relationships in the realm of business-to-business markets, In business markets, it became apparent early on that cooperative buyer – seller relationships can be the source of value creation” (Ehret, 2004) Value Creation is based off of customer

In todays society, marketing is the crucial machine that allows for the creation, promotion and selling of products and services. Because of its importance, marketers must be aware of the customers and the population before it can even begin creating products to fulfill certain wants and desires. Through the utilization of the marketing of Fitbit Alta, one is able to see how marketers must have a clear understanding of their target audience, be aware of its values and utilize these to maximize profit, return on investment and most importantly, customer satisfaction.

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

According to David Marcer marketing in general can be defined as a procedure that must be employed to understand, anticipate and satisfy the needs of the customer in a profitable way. The main purpose of marketing is to create a public awareness among the people about a product or service which will help a company to promote its product sales and reputation. (Mercer 1996). For this essay, I will be looking at the concept of perceived value and the importance to consumer behaviourism and how marketing plays a big role in this. I will also be discussing this theory and will link them with practical examples on how consumers perceive these various brands and how this will then impact their behaviour on purchasing.

Every business, organization or market a mode of communicating the value of its business or product to the consumers. In this case, the communication of these values is referred to as marketing (Kotabe and Helsen). The purpose of marketing is to ensure that they promote or sell products, services of their brand. Marketing can be of different forms considering, what is more, useful for the businesses. For successful marketing technique or strategy, one should be able to analyze the market target, consumer preference, market segment and also understand the consumer behavior (Kotabe and Helsen).