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 process by which an individual or a group obtain that identifies and meet the needs of the customers whilst making a profit.
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 the process of identifying, anticipating and supplying customers needs and wants efficiently and profitably. It is head of the pyramid that includes product researching and development promoting, advertisement and sales production and service. Marketing has many benefits some of which are, establishing brand recognition, build authority and credibility, gaining and retaining customers etc. The process or the strategy used to identify consumer's needs and wants is called the marketing orientation, which are the production, product, selling, marketing and societal marketing.
Marketing is about understanding and acknowledging the needs of customers and leaving an impact on developing the absolute best product to meet their needs by the business. Marketing comes into account for any business and how they can develop to be the best and deliver the best customer satisfaction.
Marketing is the science and art of exploring, creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and qualifies the size of the identified market and the profit potential.[Dr. Philip Kotler]
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.
According to the Kotler text, 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 (Kotler and Armstrong 5). This definition extends marketing beyond advertising, promotion and selling. Marketing is used to create value for customers and building strong relationships with those customers. If a company is successful in creating value and building strong customer relationships, the company will be able to capture value from customers.
As it was said earlier marketing is a process of creating a profitable relationship with the customer which includes value creation and proper presentation.
Marketing is the activity, set of intuitions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (Definition of marketing, 2016). Marketing is still relevant in today’s world. The marketing’s role can be seen as promoting the highest standard of professional ethical norms and values for its members.
Marketing is about being consumer orientated. All the marketing and the business activities involved should be directed to create and satisfy consumers’ needs and wants. The goal should be consumer satisfaction in order to succeed. The product or service which is being offered should be purely focused on customers/consumers.
ANSWER:MARKETING AND CUSTOMER VALUE Marketing involves satisfying consumers’ needs and wants. The task of any business is to deliver customer value at a profit.
Marketing is defined 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 (Pride 298). Marketing is the exposure of what a firm offers for the consumers. A firm’s products and/or services should be at the customers’ fingertips for easy accessibility. Customer service and satisfaction should be a priority of a firm. Customer satisfaction begins with a communication link where the needs of consumers are displayed. This is the marketing concept, “a business philosophy that a firm should provide goods and services that
Marketing helps to introduce products to the marketplace; build and maintain a brand; enhance product and services demand; deliver product acceptance and loyalty; generate shareholder value and profitable growth; and create focus on customer needs (Kotler et al. 2013).
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