Marketing Of Marketing And Customer Value

Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).

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.

This report based on the study of “Customer Value Marketing” starts with introduction section. We have mentioned the contents of the study in objectives of the report section.

An Analysis of Marketing As defined by Kotler and Armstrong (1994) marketing is “a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”. Marketing is an extensive topic. Primarily when we consider what is marketing we think about the advertising, publicity and selling of a product or service. In actual fact the prime concern of marketing is customers, and the establishment and growth of relationships between organisations and consumers. It consists of studying the wants and needs of the customers and how to make the perfect product which is priced, promoted and distributed in the right place to make it

Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, "Your most unhappy customers are your greatest source of learning ". The purpose of this paper is to define marketing from at least two different sources; based on these definitions I will explain the importance of marketing in organizational success. Also, I will offer three examples from the business world of the importance of marketing to the

Marketing plays a vital role in the failure or success of a business. Marketing is often misunderstood as the selling and promotion of products via commercials, advertisements and sales calls. However, selling and promotion is only one of the important aspects of marketing (Kotler, Shaw, FitzRoy & Chandler, 1983). Therefore, it is essential for businesses to fully understand hot marketing affects them. This essay will further explore marketing as a business philosophy, the customer values provided and the link between the two with the use of Village “Gold Class” Cinemas specifically to illustrate these concepts. Village “Gold Class” Cinemas is a unique premium site that is designed to provide customers the best experience whilst the whole

Marketing is a management function which involves creating, communicating and delivering value for an organisation’s customers (Kotler, Brown, Burton, Deans & Armstrong (2010). Although many earlier academics define marketing as merely a process of satisfying customer needs in order to gain profits, more recent developments of the definition include its inherent connection with delivering superior value to customers in order to maintain ongoing relationships (Webster, 1992).

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)

In today’s world marketing can be define in many ways. It has been changed in way of its market but definition rarely states the same. Marketing can also be defined as the process of creating value for customers in order to building

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.(Kotler, Armstrong, Saunders, Wong page 5)

Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return .

This report aims to find out the relationship between customer value and marketing. In particular, it focuses on the necessity of marketing and the composition of customer value, research on the connection between these two concepts. In particular, it indicates four elements of a market, which are price, place, products, and promotion (4Ps). The other vital part of a market is customer value, it has been divided into instrumental value, hedonic value, expressive value and cost value. Customer value and marketing connect to each other through the supplier help people do better- buying decision and improve products through the customer value.

The purpose of this paper is to define the term “marketing”, explain the importance of marketing in organizational success, and provide examples from the business world to support the explanation of its importance. Upon completion of this paper it should be understood what Marketing means and its importance in today’s society.

It is so important for a company to decide what type of approach they want to take when they are marketing their product/services. It is first important to understand the different approaches that make up the 4-P approach to marketing versus the value approach. When using the 4-P style the company will most likely be concerned with the price, product, promotion, and place. The price will be a major focus point because it is important that you can compete with any competition that may be selling the same type of product you are offering. Likewise, it is important to know whether if in the future a price hike may be needed, will your product survive the inflation, or will customers choose a different brand. When thinking of promoting your product, where is the best venue is going to be the key question. Is the product geared towards teens/young adult or middle aged individuals are common questions? If it is for teens and younger adults where do they like to spend their time? Areas such as skate parks, movie theaters, or advertising on television during programs geared towards this age range would be appropriate venues. Alternately advertising for the middle aged demographic could be during sporting events such as hockey or football, or places like popular restaurants. The product aspect of the 4-P approach deals with the physical product or service you are providing. This is a similar aspect for both companies that use 4-P style and also with companies that take the

The sales of the product is to be promoted through a number of influences where prospecting. Buyer and sales meet face to face, it means that all prospective buyers of the product must be attractive buyers of the product must be attracted urged and persuaded to buy the products. This is done by sales promotion while has been taken as providing the link between product knowledge and market. The role of sales promotion is to stimulate consumer purchasing at the point of sales and dealers effectiveness at the retail channel