Marketing Environment

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Definition of Marketing

Marketing is a organizational function and a collection of processes designed to plan for create, communicate, and deliver value to customers and to build effective customer relationship in ways that benefit the organization and its stake holders. Profits and other organizational goals are achieved by creating value for customers. The creation of value is the realization of benefits that exceed the cost of products, services or other items. One important concept in marketing is the idea of utility. Utility is the satisfaction received from owning or consuming a product or service. In a market sense, utility is the value that marketers intend consumers to attach to that marketer’s product or services. A need is a necessity to meet an urgent requirement. A want is a desire for something that is not essential. Furthermore, demand is the financial capacity to buy what a person wants, for that business’s brand of products or services through marketing activities such as advertising. A brand is a promise to deliver to consumers specific benefits associated with products or services. Marketing influences you as a consumer through your current and future career choices, and through the economy. Marketing extends to a variety of tangible and intangible items; they are products, services, people, places, causes, events and ideas. Marketing concept is an organizational philosophy dedicated to understanding and fulfilling consumer needs through the creation of value. Marketing concept mainly focus on customers relationship. Customer relationship created when businesses and consumers interact through a sales transaction of a product or service. It will refer to customer relationship management (CRM). Marketing functions are activities performed within organizations that create value for specific products or services. In terms of understanding all these theory, we started Butterfly Travel...
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