Marketing and Management Process

Decent Essays
Overview of Chapter One:
Key Terms:
Marketing: The management process through which goods and services move from concept to the customer (Business Dictionary, 2014).
Marketing Management: Practice of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value.
* Their tasks include but are not limited to:
Developing market strategies and plans- The primary task of the company has to be identifying their potential long -term goals and research opportunities given its market experience. Perhaps the company can invest in better features for the products. The ultimate long run goal of the company should be to develop a concrete plan that will specify its tactics in strengthening as a brand resulting in ultimate satisfaction of the customer.
Point’s Gathered:
1. Good marketing is no accident; rather the product of careful planning and execution.
2. Practices within the marketing industry are constantly evolving to accommodate changes in given industries and increase changes of product success.
3. The financial success of a given company/ product is often dependent on its marketing ability. If there is no demand for a product/ service, the company will not make a profit. According to Kotler and Keller (2006), ‘there must be a top line for there to be a bottom line’ (p.4).

4. Needs, Wants and Demands- (Kotler & Keller, (2006), p.24)
Needs are the basic human requirements.
Wants are shaped by one’s
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