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Marketing in today's business
Importance of marketing concept
Importance of marketing concept
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DIFFERENCE BETWEEN MARKETING AND SELLING
Marketing and selling are synonymous but there exists a difference between the two concepts. It is very necessary for the marketing team to clearly understand the difference between marketing and selling. Selling is the transferring of goods and services to customers. On the other hand includes all the activities associated with product planning, pricing, promoting, and distributing a product or a service. The following are more differences between selling and marketing;
Selling is product focused and involves using techniques to make customers exchange goods, services or brands for cash. Marketing on the other hand is more dynamic and wider than selling as it focuses more on the customer rather than the product.
Selling is the action part of marketing with a short term goal of getting market share and is not concerned with the values that exchange is all about. On the other hand,
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Marketing concept is built on four pillars namely; target market, customer needs, integrated marketing, and profitability. Marketing concept relies upon marketing research to define market segments, their size, and their needs. The needs of the marketing segments are satisfied through marketing mix decisions made by the marketing team.
Societal marketing concept; this type of concept holds the idea that an organization must be able to determine the needs, wants, and desires of target markets and to deliver the desired satisfactions more efficiently and effectively than the competitors. In addition, the above must be done in a way that preserves or enhances consumer’s and society’s well being. The societal marketing concept helps the marketing concept to deal with conflicts among consumer wants, consumer interests, and long-run societal
The marketing concept is producing a product that people want to buy and that the business is not selling because it likes making the product there doing it because they know people will buy their product. The marketing concept can be looked as a philosophy that potentially determines what type of marketing tools/ strategy can be used a company.
While marketing is everything businesses do to identify its target market and create strategies for reaching its customers, sales is everything businesses do to close the sale and get a signed agreement or contract. Both are essential to the success of a
(A) Marketing- the management process through which goods and services move from concept to the customer. The main purpose is to increase sales of the project and profits of the company.
Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)
Marketing in a lay man's language is about matching the needs of your target market to what your business is offering in the right place, with the right price and at the right time. It is not possible for the business to get close to the customer without good marketing. Good marketing will involve a good understanding of the target customer and tailoring of your product and services to meet their need. This is then communicated through your marketing efforts. Selling ensures the offering is translated to paying customers.
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.
” Chartered Institute of Marketing defines it as the management process responsible for identifying, anticipating and satisfying customer’s requirements profitably. However, there exist numerous definitions of marketing, it is always about “meeting existing needs and anticipating future needs” (Bagozzi, 1975). The marketing concept is a kind of recipe how a company can achieve its goals by understanding the exchange partners and associated costs, being a response to external opportunities and threats and to internal strengths and weaknesses as a means of competitive advantage (Houston, 1986). Bagozzi (1975) underpins this viewpoint, arguing that marketing is much about the exchange paradigm which focuses on the question why parties take part in exchanges and how these work.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
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.”
Selling is a common promotional tactic used by organizations that market goods and services to consumers or firm buyers. It commonly involves face-to-face meetings between the sales representatives and prospective buyers. Selling is more common when organizations that market big-ticket items, such as furniture, cars and appliances (Armstrong, 2009). In such organizations large purchases usually mean more persuasive and communication efforts by the sales people with prospects. Such organizations often use promotions such as advertising to build awareness and attract potential customers which are then left to the sales people to convert them to sales. Thus the level of sales is dependent on
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
Marketing is defined as follows: Marketing is the process of interesting potential customers and clients in your products or services. In this essay, I am going to address the concept of “social marketing” and how does social marketing differ from “societal marketing” or “socially responsible marketing” in the first part, and in the second part, I am going to provide examples of each of the three approaches to marketing and analyse how these represent a departure from traditional marketing practice.
Traditionally, marketers were focused mainly on selling a product. They started with production and marketing was done while selling and promoting the product to attain sales at a profit. In this technique, they were of the view that the product should be brought in the market with an aggressive selling strategy and imposed in the market through promotional pressures. Their marketing purview was limited to 4P’s which are product, promotion, price and place for profit maximisation.
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.