Marketing : Definition Of Marketing Essay

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 could be defined as the way of planning and executing pricing, promotion and distribution of goods and services to satisfy end user and completing the goals of organisation.

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.

Place is where the corporation or business decides to distribute their product. Sony has decided to distribute the PS3 through major retail stores, such as Wal-Mart, K-Mart, Radio Shack, Circuit City, Best Buy, Sears and many more. Sony has chosen these specific places for two reasons; one, because it’s where the

The price is the amount a customer pays for the product. The business may increase or decrease the price of product if other stores have the same product.

Marketing is the activity and process for creating, communicating, delivering, and exchange a product or service; which has values for the customers/clients. Overall it is an integrated process which builds customer relationship and creates an identity for their customers and themselves.

Marketing is a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others. (Kotler & Armstrong, 2012)

Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

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.[American Marketing Association(AMA) Board Of Directors]

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”.

First of all, Product refers to the product should fit the task the target consumers want it for, it should work , and it should be what the consumers expected to get. For instance, its packaging, labeling and offering. Therefore, this always remind marketing managers need to do careful research on how long the life cycle of the product is likely to be and focus their attention on different challenges that they are facing when they are developing the product.

Table of Contents Introduction 3 Task-1 Understand the concept and process of marketing 3 1.1 Explain the various elements of the marketing process. 3 1.2 Evaluate the benefits and costs of a marketing orientation for a selected organization 4 Tesk-2 Be able to use the concepts of segmentation, targeting and positioning 5 2.1 Show macro and micro environmental factors which influence marketing decisions. 5 2.2 Propose segmentation criteria to be used for products in different markets. 6 2.3 Choose a targeting strategy for a selected product/service 6 2.4 Demonstrate how buyer behavior affects marketing activities in different buying situations 7 2.5 Propose new positioning for a selected product/service 8 Task-3 Understand the individual elements of the extended marketing mix 8 3.1 Explain how products are developed to sustain competitive advantage 9 3.2 Explain how distribution is arranged to provide customer convenience 9 3.3 Explain how prices are set to reflect an organization’s objectives and market conditions 10 3.4 Illustrate how promotional activity is integrated to achieve marketing objectives 11 3.5 Analyze the additional elements of the extended marketing mix 11 Task-4 be able to use the marketing mix in different contexts 12 4.1 Plan marketing mixes for two different segments in consumer markets 12 4.2 Illustrate differences in marketing products and services to businesses rather than consumers 13 4.3 Show how and why international

Definition of Marketing – Marketing can be defined as the process of converting wants into needs. In other words it can be defined as the process of selling products or services to the customers by an organisation.

• Promotion: The actions that link the product’s features and welfares and influence customers to buy the product.