The Contribution of Marketing
HOW DOES MARKETING CONTRIBUTE TO ECONOMIC EXPANSION? HOW CAN OUR MARKETING SYSTEM BE IMPROVED TO HELP US ACHIEVE STILL HIGHER LEVEL OF ECONOMIC ACTIVITY IN THE FUTURE
Marketing is an economic process by which goods and services are exchanged between the producers and consumers and their values is determined in terms of money prices.
In other words, marketing is the process by which companies create customer interest in products or services. It generates the strategy that underlies sales techniques, business communication, and business development. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
The American Marketing Association defined marketing as “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”. The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering views marketing as “a set of processes that are interconnected and interdependent with other functions. Whose methods can be improved using a variety of relatively new approaches.
CONTRIBUTION TO ECONOMIC EXPANSION
Marketing is seen as the task of creating, promoting & delivering goods & services to customers & business. Marketers are skilled in stimulating demand for the company’s products they are responsible for demand management. Marketing managers seek to influence the level, timing & composition of demand to meet the organizations objectives.
Marketing people are involved in marketing ten types of entities
A. Goods: Physical goods constitute the bulk of production and marketing efforts.
B. Services: A growing portion of business activities are focused on the production of services. The U.S. economy today consists of a
Marketing is an economic process by which goods and services are exchanged between the producers and consumers and their values is determined in terms of money prices.
In other words, marketing is the process by which companies create customer interest in products or services. It generates the strategy that underlies sales techniques, business communication, and business development. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
The American Marketing Association defined marketing as “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”. The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering views marketing as “a set of processes that are interconnected and interdependent with other functions. Whose methods can be improved using a variety of relatively new approaches.
CONTRIBUTION TO ECONOMIC EXPANSION
Marketing is seen as the task of creating, promoting & delivering goods & services to customers & business. Marketers are skilled in stimulating demand for the company’s products they are responsible for demand management. Marketing managers seek to influence the level, timing & composition of demand to meet the organizations objectives.
Marketing people are involved in marketing ten types of entities
A. Goods: Physical goods constitute the bulk of production and marketing efforts.
B. Services: A growing portion of business activities are focused on the production of services. The U.S. economy today consists of a