The Contribution of Marketing

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.

Maslow’s hierarchy of needs is widely accepted in many social disciplines. However, it still has some weaknesses. Firstly, it is difficult to measure how people are satisfied in every level. There is no methods to measure precisely how satisfied one need is before the next higher need become operative. Secondly, in reality, people may seek different needs simultaneously, for instance, consumer would like to buy the car can offer safety and esteem needs. Thirdly, this theory doesn’t take account of age group consideration. Some old age people concern highest level of security,

Abraham Maslow created a ‘needs theory’ where “human needs are ranked on an ascending scale according to how essential the needs are for survival” (Kozier & Erb, 2014, p. 237). “Once a lower need is fulfilled, a next

Abraham Maslow’s theory, Theory of Hierarchy Needs, is a motivational theory in psychology that has a tier model of the five things a human needs. Maslow stated that people are motivated to achieve certain needs and that some needs take precedence over others. The five stages, from bottom to top, include Physiological needs( food, water, warmth, and rest), the second stage: Safety Needs ( security and safety), third stage: Belongingness and love needs ( intimate relationships and friends), the fourth stage: Esteem Needs (prestige and feeling of accomplishment), and finally the last stage: Self-actualization ( achieving one’s full potential, including creative potential). The five stage model can be divided into

Abraham Maslow is a psychologist who had developed the Hierarchy of needs model in 1940-50s, and the Hierarchy needs theory is still being used to day and for understanding the human motivation. In his hierarchy he believes that people are motivated to achieve certain needs. And when a human had fulfilled a person would seek to fulfil the next one. Maslow’s hierarchy needs is concerning the responsibility of service providers to provide a

As it was mentioned before, the key idea of Maslow’s Hierarchy of Needs theory relates to the existence of several sets of motivation and needs that govern human behavior. Hence, the major concepts of this theory include certain needs that are grouped into sets based on their place within the hierarchy of all the needs. The first version of the theory has five needs, which are divided into

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.

marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others

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.

Maslow’s theory provides review of human needs. His model takes into consideration the need of satisfaction.

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 a process of identifying and satisfying the consumer needs and wants by creating or exchanging product.

A.H. Maslow, a famous social scientist, has given a framework that helps to explain the strength of certain needs. According to him, there seems to a hierarchy into which human needs are arranged as shown in Figure.

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.

Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.