"Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others." (Kotler et al, 2003:13). Marketing is a key aspect within a business and has several different functions. Some of these functions include, research, analysis, promotion, pricing and distribution. These functions lead into the evolution of the five alternative concepts under which organisations conduct marketing activities. The concepts include the production concept, the product concept, the selling concept, the marketing concept and the societal marketing concept.
The production concept focuses upon the improvement of production and distribution efficiency, for example, the speed of delivery and the quality control of the business. This concept is mainly focused internally and not focused upon the customer and their needs.
The selling concept again is focused on the internal business. The main features of this concept are, large-scale selling and promotional effort with heavy selling techniques and the aim to sell what is made, rather than making what the consumer wants or demands. It has a very short-term focus; it doesn’t consider the longer needs of the customer, if it even focuses on the customer at all. It is used when supply exceeds demands; an example is when airlines sell their seats cheaper because they have not been sold at full price.
The product concept focuses upon the product and the capabilities of the. Again this concept is not focused upon the customer demands but upon the product and internal business. The societal marketing concept holds that the organisation should establish the needs, wants and interests of the targ...
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... purpose of satisfying human needs and wants.” (Kotler et al, 1999:15)
Reference List and Bibliography
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Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
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Schultz, D.E., et al., 1994. The new marketing paradigm: integrated marketing communications. NTC Business Books, pp. 105-156.
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Armstrong, G, Adam, S, Denize, S, Kotler, P, 2010, Principles of Marketing 5th Edition, Pearson Australia Group, Frenchs Forest
It discusses broadening the concept of marketing and new approach to marketing, which emphasises on social and relationship marketing. Then, the government/public sector has been introduced and it proceeds with whether traditional marketing principles can be applied to the marketing of organisations in this sector. It concentrates on issues of relevance-how marketing mix fits to it, what are the benefits and constraints. 1.1 The Marketing Concept and the Marketing Mix: Before proceeding further, it is essential to define what marketing is: Kotler (1991) defines marketing as “a social and managerial process by which individuals and groups obtain what they want and need through creating, offering, and exchanging products of value with others.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
For a marketing orientated business, the findings from any research will be put to use primarily to aid the business in satisfying the needs and wants of its customers; this type of business has become more popular since 1970, where prior to this business’ were production orientated (until the 1950’s) where the business was concerned with improving its distribution methods, and product orientated (until the 1960’s) where the business’ main concern was the product rather than the satisfaction of the customer. The idea of a marketing orientated business has been explored by Fahy and Jobber (2012) who concurred that a market orientated business is one that considers its customers and the external environment to be an intricate part of the business; This type of business will explore the different aspects of the external environment, and take from its observations ways in which it can continue to trade in an effective, profitable way. A marketing orientated business will also use its findings to help it take advantage of any opportunities in a market and to lessen any threats that could be...
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”