DEFINITION and concept OF MARKETING
By know this .com
Marketing consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer.
Marketing is the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals." American Marketing Association.
My personal definition
Marketing is a set of activities, which will satisfy the objectives of both the organizations its stakeholders including customer.
Marketing is the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individuals and organizational goals. (www.wikipedia.com)
Thus there are two major aspects of marketing which is the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management).
The four general sets of activities are:
1st Products- Products management aspect of marketing deals with the specifications of the actual good or services, and how it relates to the end-user's needs and wants.
2nd Pricing- setting a price for a product, including discounts.
3rd Promotion- Advertising, sales, promotion, publicity and personal selling, and refers to the various methods of promoting the product, brand or company.
4th Placement (distribution) - How the product gets to the customer(example-point of sale placement or retailing).
These four P's models are useful when marking low value consumer products. (McCarthy)- http://en.wikipedia.org/wiki/Marketing www.answer.com
Importance of Marketing in organizational success
The concept of marketing has been derived from the basic concept of sales which evolved from the concept of exchange. This has an origin in terms of people trying to get hold of items which ...
In a 1223 word solution, the role of marketing is discussed in detail complete with examples.