The Quest Of A Marketing Theory

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.

As I reflect back over these last five weeks I now have a clearer view of marketing and how it affects not just the consumers of the world and the companies with their marketing managers, but how it affects me. Yes, I am a consumer who clips coupons, budgets my finances, and looks for sale items and this marketing class has taught me that marketing is more than selling or advertising. Marketing managers have a difficult job, as marketing involves identifying, meeting and satisfying the needs of customers or clients with goods and or services. Coming up with different strategies and marketing mixes is challenging because we live in a changing world with people who needs and financial situations are different. Yet still marketing engulfs every part of our daily lives. From what type of breakfast we eat, to where we shop, and even in our work environment. As I examine marketing, I will blend aspect to my career path as I make myself marketable for the future and aid my employer in the growth and survival in the economy.

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

In business, there is more to being successful and achieving organizational success than having products or services at reasonable prices. Many companies underuse marketing as one of their business functions. Alternatively there are many companies that have been successful because of the effective use of

In this paper, I have researched to find out how this grant empire has become and remain so successful. I found out that one of the reasons is because it has been able to maintain the goals and standards that its owner, Mr. Sam Walton has built it upon. Even after his death, Wal-Mart continues to expand and grow in other countries. Wal-Mart is considered one of the top ten global companies today. Mr. Walton’s main goal was to sell products at a low price so that people could live a better life. Another reason is because Wal-Mart uses certain market mix strategies such as the four P”. These strategies, price, promotion, product and place.

The article “Marketing: philosophy of science and “epistobabble warfare” is a commentary by the author Michel Rod published as a qualitative research in an International Journal, Vol. 12 Iss. 2, pp. 120- 129.

Theory is the backbone of research. Without theories behind which research is guided, it would be impossible to draw any conclusions about a given study or manuscript on topics in the field of marketing. This paper will synthesize studies/theoretical frameworks that can be cited as part of research endeavors in the field of marketing. This paper will also discuss scholarly views related to what constitutes a theory. In addition, the ways that research, both qualitative and quantitative, can contribute to theory will also be discussed. Finally, this paper will explore the criteria that explain how theory adds to the field of marketing and will analyze two areas of controversy related to theory.

How are companies such as Ford, Wal-Mart, Apple, and Nike implementing branding as a form of marketing? According to Wagner (2013), businesses have five factors that may cause failure: lack of dialogue with the customers, lack of differentiation, inability to communicate value propositions, weakening of leadership, and failure to have a successful business model. Operating a business can be challenging and rewarding. Success is achievable by attaining a goal internally and externally within a business. Lee, Hye, and Young (2013) use social exchange theory to describe the functions of an organization in comparison to counterparts due to interchanging and the

Due to stiff competition, marketing has become an essential component in the management of organizations. According to Turnbull and Paliwoda (2012) marketing revolves around the manner in which organisations communicate with consumers in the market. There are two main perspectives towards the understanding of what marketing is. From one perspective, it is the manner in which organisations communicate with their consumers regarding the existing products and also commication that is geared towards creating positive perceptions in the consumer market. Thus the approach points out that marketing is a tool used for value creation. The other perspective of marketing is more comprehensive as it encompases marketing as a tool and a process in the organization. with regards to this perspective, Challagalla, Murtha, and Jaworski (2014) define marketing as: “the process of conception planning and execution, pricing, promotion and distribution of goods, ideas and services.” This means that marketing starts from the designing and producing products and services, to when they are promoted and distributed to the consumers. Marketing strategies of enhancing sales can be implemented anywhere within the

When compared to economics, production and operations, accounting and other business areas, marketing is a relatively old and distinct concept. According to the American Marketing Association, marketing is “planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives” (Lusch 261). Led by marketing scholars from several major universities, the development of marketing was in large part motivated by the need to dissect in greater detail these relationships and behaviors existing between the sellers and consumers. This need to better understand these relationships and behaviors has truly developed the field of Marketing, ranging from the Old-School tactics used in the developmental stages of marketing, to the technological strategies using Television and other electronics of today’s generation, and even to tactics and strategies scholars believe Marketers will begin to use in the future.

During challenging times of 1970-80, marketing evolved by improvising through various facets and nuances either aligning or independently with business strategy. During this period of growth marketing had loss of influence on academia and it can be attributed to few factors such as preemption of marketing frameworks, pervasive tendency among marketers, shifting balance towards micro issues and tardiness among people in marketing academics. From this paper I could inference a different view point of marketing how focusing on macro aspects is as important as researching on micro aspects. Writer calls into question the orientation of the purpose of marketing tools and techniques for the profit/gains at Wall Street.

Marketing has been defined in a number of ways. Kotler (1983,p.7) defined marketing as a “human activity directed at satisfying needs and wants through exchange processes.” He felt this encapsulated the fundamentals of marketing and went on to present the basic concepts of needs, a state of felt deprivation, that are plentiful and complex, they include basics such as food or clothing, wants which he described as an “expression of human needs, shaped by a person’s culture or individual development” (Kotler, 1972, p. 8), demands, wants that are backed by buyer power, exchanges, “the act of obtaining a desired object from someone by offering something in return.” (Kotler, 1972, p. 10), an exchange can also occur between a person and a television program (Bagozzi, 1975) and transactions, a trade of values between any two parties. The main aim of Kotler’s definition was to highlight the importance of customer satisfaction, and the significance of needs and wants.

Marketing is a crucial element in achieving success for any organization. There is not one universal interpretation of marketing and how it should be defined; in fact, throughout its origins many people have endeavored to chain together different ways of explaining what marketing is. Even though there is not one distinct way to define marketing, all definitions are relevant and help form an understanding of the concept. Kotler defines marketing as “human activity directed at satisfying needs and wants through exchange processes” (Kotler, 1983). However, others believe that there is more to marketing than just the satisfaction of needs and the process of exchange. There are multiple facets of the business philosophy of marketing, perhaps

This paper presents the definition of marketing, its importance and types. In addition, the consumer behaviour, its analysis and role in marketing strategies and finally the expectancies of consumers from marketing supporters are presented.

Marketing is a process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value freely with others. Since the early 1900s, marketing has been around, which many people can’t believe and don’t want to. Right around 1950s, many marketing companies was seeing that the old ways wasn’t working anymore with the consumers. That made the companies make their competition harder and harder for all those that was competing against each other for sells. Instead companies realize that it wasn’t about them it was about what the consumers wanted and understanding what their needs was or what brings them in the store to shop, which brings the marketing concept, meaning the