Analyzing Marketing
a) Different definition of marketing and critically analyze them
Marketing comes in a wide variety of flavors based on audience, media platform and business in today’s evolving and dynamic marketplace. Therefore, it is no surprise that marketers define what they do differently.
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. This definition clearly places marketing as a process. Within most organizations this process is managed by the marketing function. Baker (1), Bernard and Brown (2) among others, however, have argued that in addition to being a function, marketing is clearly an organizational philosophy- an approach to doing business. This approach is exemplified by the quote of Professor Stephen Burnett, appearing in the preface to the 6th edition of the influential marketing text by Philip Kotler (3):
In a truly great marketing organization you can’t tell who’s in the marketing department. Everyone in the organization you can’t tell who’s in the marketing department. Everyone in the organization has to make decisions based on the impact on the customer.
In addition King 4 has criticized too narrow perspective on marketing- confining it to what a “bolt on” marketing department does- and recommends a broader interpretation of terms. Despite the current levels of interest in defining the domain of marketing, and in particular the function- philosophy debate, few studies have focused on what marketing means.
The generally accepted European definition of marketing is given by the Chartered Institute of Marketing (CIM). It might be wise to commit this particular definition to memory:
Marketing is the management process responsible for identifying, anticipating and satisfying consumer requirements profitability.
Some writers use the terms ‘need’ and ‘wants’ rather than customer ‘requirement’.
Marketing comes in a wide variety of flavors based on audience, media platform and business in today’s evolving and dynamic marketplace. Therefore, it is no surprise that marketers define what they do differently.
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. This definition clearly places marketing as a process. Within most organizations this process is managed by the marketing function. Baker (1), Bernard and Brown (2) among others, however, have argued that in addition to being a function, marketing is clearly an organizational philosophy- an approach to doing business. This approach is exemplified by the quote of Professor Stephen Burnett, appearing in the preface to the 6th edition of the influential marketing text by Philip Kotler (3):
In a truly great marketing organization you can’t tell who’s in the marketing department. Everyone in the organization you can’t tell who’s in the marketing department. Everyone in the organization has to make decisions based on the impact on the customer.
In addition King 4 has criticized too narrow perspective on marketing- confining it to what a “bolt on” marketing department does- and recommends a broader interpretation of terms. Despite the current levels of interest in defining the domain of marketing, and in particular the function- philosophy debate, few studies have focused on what marketing means.
The generally accepted European definition of marketing is given by the Chartered Institute of Marketing (CIM). It might be wise to commit this particular definition to memory:
Marketing is the management process responsible for identifying, anticipating and satisfying consumer requirements profitability.
Some writers use the terms ‘need’ and ‘wants’ rather than customer ‘requirement’.
References: (1) Baker, M.J., marketing an introductory text, 4th edition, Macmillan, london, 1985 (2) Bernard, K.N, “functional practice and conceptual function-the inherent dichotomy of marketing,” journal of marketing management, vol.3 no.1, 1987, pp 73-82. (3) brown, r.j, “marketing- a functional and a philosophy,” the quarterly review of marketing. vol.12 nos 3 and 4, 1987, pp 25-30 (4) Kotler (5) king, s., “has marketing FAILED OR was it never really tried,” Journal of marketing management, vol.1 no.1, 1985, pp 1-19 mostaque, a.z, a synthesis model of market orientation for a developing country- the case of Bangladesh, 2003 p17 (6) mcKitterick, JB. 1957, “what is marketing management concept?” in The frontiers of marketing thought and science frank m.bass, ed., American marketing association, Chicago. pp71-92 (9) Kotler, P