Principles of Marketing

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A.Definitions Of Marketing
1. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.[American Marketing Association(AMA) Board Of Directors]

2.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 qualifies the size of the identified market and the profit potential.[Dr. Philip Kotler]

3.Marketing is traditionally the means by which an organization communicates to, connects with and engages its target audience to convey the value of and ultimately sell its products and services.[Julie Barile]

4.Marketing is the process by which a firm profitably translates customer needs into revenue.[Mark Burgess- Managing partner, Blue focus Marketing]

5.Marketing is meeting the needs and wants of a customer, that is when someone buys something he/she must be satisfied of what he/she bought.[Andrew Cohen]

6.Marketing is building your brand, convincing people that your brand is the best and protecting the relationship you build with your customers. [Marjorie Clayman, Director Of Development, Clayman Advertising Inc.]

7.Marketing is creating irresistible experiences that connect with people personally and create the desire to share with others.[Saul Colt]

8.Marketing is ultimately responsible to create enterprise value via the brand, the face of the business strategy. To do so, marketing identifies the target, attractive high growth segments. Marketing drives the organization to define the single minded, differentiated brand value proposition and deliver on it every single day across every touch point. Marketing ensures the delivery of a compelling, differentiated offer to that target and proposition. And, marketing measures and improves the consumers/ businesses/partner satisfaction, and the brand health and strength. Marketing is the single point of accountability for growth, identifying and delivering on new customers, new offerings & new market profitable growth. Cathy Halligan – Senior Vice President Sales & Marketing, PowerReviews Criticize:

Cathy Halligan definition of marketing is based solely on brand A brand represents a product which has a set of value that meet certain of the customer’s psychological needs leading to a perception of added values and feeling of confidence on the part of the customers It is theses added values and the psychological and perception effects they have on customer choice that constitute the essence of what brand it is. Brand values are among the most important influences on buying decision and customer choice Reasons: Reputable brands allow the customer to choose with confidences and reduce the risks. Brands are strongly associated with:

i.Emotional
ii.Psychological
iii.Status
iv.Function

8. Marketing is everything a company does, from how they answer the phone, how quickly and effectively they respond to email, to how they handle accounts payable, to how they treat their employees and customers. Done right, marketing integrates a great product or service with PR, sales, advertising, new media, personal contact. In other words, marketing is not a discipline or an activity – it is everything a company is – at least if the company wants to be successful. B.L. Ochman – President, What’s Next

Criticize:
According to B.L.Ochman, marketing encompasses all activities, staff, building, responses.

For examples:
Services must be qualitative and must be of the highest standard: •How to answer the telephone
The response to E-mail
The handling of accounts payable
How employees are treated
How customers are treated
But the world is not perfect, there will be flaws in the system, motivation is essential, behavior for all...
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