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Marketing 421

By | April 2007
Page 1 of 2
There are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction of customer needs. Marketing is about meeting the needs and wants of customers, it is a business-wide function – it is not something that operates alone from other business activities, Marketing is about understanding customers and finding ways to provide products or services which customers demand. Marketing is, in fact, the analysis of customers, competitors, and companies, combining this understanding into an overall understanding of what segments exist, deciding on targeting the most profitable segments, positioning the organizations products, and then doing what's necessary to deliver on that positioning. Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Kotler).Marketing and advertising sometimes is confused amongst people. The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie there are slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Marketing should be remembered as everything that an organization does to facilitate an exchange between company and consumer.

Marketing is a four step process that begins with analyzing and defining a qualified universe of potential users or buyers. After this first phase in the marketing process, a true marketing effort succeeds in capturing the attention of the intended buyers within the targeted universe. Third, systematic effort must be put...

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