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Marketing Concept

Marketing
What is the definition of marketing, and given the existence of he marketing concept , why do so many products fail in the market?
Marketing has many definitions the enhanced ones focuses on customer direction and fulfillment of customer needs (Kotler, 2009). The two different definitions of marketing and the views of what marketing primarily entails are, first and foremost is the view from The Chartered Institute of Marketing: "Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably." The Chartered Institute of Marketing (CIM, 2009) According to CIM the definition has obtained three important components. In addition to recognizing customer needs, satisfying the customers and expecting future customers (for customer relationship sustainability). Another definition of marketing is "Marketing not only involves selling; it is not a specific action at all. It involves the complete organization. It is the whole business seen from the point of view of the final result, that is, from the consumer" (Schewe and Hiam, 1998).
"Products fail as a result of the delicate balance between "risks vs returns, and innovation vs adaptation, retrospective research isn't always a reliable crutch. If there is a lesson for marketers, it is all about doing one's homework, fully understanding that predicting the future is not a science it's a gamble. It may be daunting, but then again, the world would have never seen the likes of Walkman, FedEx, CNN and even LMD all of which were predicted to fail!"(Fernando, 2000).
With the medical transport field How does this organization use the different components of the marketing mix? In this particular case which do you believe to be the most important component of the marketing mix? Why?
The three most influential marketing concepts are consumer focal point, marketing strategy, and market segmentation. All three concepts establish customer relationship sustainability, concentrating on satisfying a customer's needs rather than suggesting a customer purchase a certain product or service. When implemented properly these concepts develop a relationship with customers that grow to return business, advertising, and brand loyalty (Perreault, 2009). According to Scheme and Hiram (1998) recognized the importance of getting back to what they believe to be the most fundamental marketing concept. Marketing provides a service to its consumers by obtaining and satisfying through innovation and exchanging products and value with consumers. The primary function of marketing is organizations thrive and show a profit through supply and demand of its customers. Businesses encounter pressure from competitors, and changes in the economic climate. Taken into account all these factors a business has the responsibility of competing with the needs and wants of its target demographic.
The marketing mix customarily encompasses components such as price, product, promotion, and place. As a result, the marketing mix execution is not particularly an element of marketing strategy. Marketing mix customarily implements in conjunction with strategy to assist marketing managers' promotion of their product and services. The consumer is the target demographic of all marketing's hard work. The satisfaction and need of the consumer are numerous these elements are structured into the marketing mix or "the 4 P's" (Product, Price, Place, and Promotion).

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Marketing
What is the definition of marketing, and given the existence of he marketing concept , why do so many products fail in the market?
Marketing has many definitions the enhanced ones focuses on customer direction and fulfillment of customer needs (Kotler, 2009). The two different definitions of marketing and the views of what marketing primarily entails are, first and foremost is the view from The Chartered Institute of Marketing: "Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably." The Chartered Institute of Marketing (CIM, 2009) According to CIM the definition has obtained three important components. In addition to recognizing customer needs, satisfying the customers and expecting future customers (for customer relationship sustainability). Another definition of marketing is "Marketing not only involves selling; it is not a specific action at all. It involves the complete organization. It is the whole business seen from the point of view of the final result, that is, from the consumer" (Schewe and Hiam, 1998).
"Products fail as a result of the delicate balance between "risks vs returns, and ...

Solution Summary

Marketing
What is the definition of marketing, and given the existence of he marketing concept , why do so many products fail in the market?
Marketing has many definitions the enhanced ones focuses on customer direction and fulfillment of customer needs (Kotler, 2009). The two different definitions of marketing and the views of what marketing primarily entails are, first and foremost is the view from The Chartered Institute of Marketing: "Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably." The Chartered Institute of Marketing (CIM, 2009) According to CIM the definition has obtained three important components. In addition to recognizing customer needs, satisfying the customers and expecting future customers (for customer relationship sustainability). Another definition of marketing is "Marketing not only involves selling; it is not a specific action at all. It involves the complete organization. It is the whole business seen from the point of view of the final result, that is, from the consumer" (Schewe and Hiam, 1998).
"Products fail as a result of the delicate balance between "risks vs returns, and innovation vs adaptation, retrospective research isn't always a reliable crutch. If there is a lesson for marketers, it is all about doing one's homework, fully understanding that predicting the future is not a science it's a gamble. It may be daunting, but then again, the world would have never seen the likes of Walkman, FedEx, CNN and even LMD all of which were predicted to fail!"(Fernando, 2000).
With the medical transport field How does this organization use the different components of the marketing mix? In this particular case which do you believe to be the most important component of the marketing mix? Why?

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