MKT 421 Week 1: Defining Marketing
Defining Marketing
NAME
MKT/421
October 17, 2012
Defining Marketing Marketing can come in many terms depending on which product is marketed. It is my assertion that marketing is basically an activity used to sell a product which requires sells techniques, business communication, and business development. The marketing process includes strong customer relationships and a commitment to the business customers. Businesses both large, and small desire to retain their customers; therefore, to make customers happy businesses will make customers the focal point of the product. During the entire marketing process, the organization will concentrate on building, and maintaining good customer relationships. According to the American Marketing …show more content…
They further simplify their definition of marketing as “managing profitable customer relationships” (Armstrong & Kotler, 2011, p. 4). Armstrong and Kotler support their assertion by citing the customer success of Wal-Mart and its ability to deliver upon their promise to its customers to “Save money. Live better” (Wal-Mart, 2012). The challenging economy as provided Wal-Mart a valuable opportunity to showcase its pricing strategy that in their words assist their customers with saving money, stretching their paychecks, and providing a better life for their customers families (Wal-Mart, 2012). A third point of view of marketing provided by Perreault, Cannon, and McCarthy (2011), which summarizes the fore mentioned three definitions, defines marketing as the performance of activities that seeks to accomplish the organization’s objectives by anticipating the customer’s needs and directing a flow of need-satisfying goods and services from the producer to the client or …show more content…
Overtime, marketing has evolved through sales, production, marketing eras, and the current relationship era. Organizations did not recognize the importance of their customers until the marketing era of the 1950s (American Marketing Association, 2012). Marketing also refers to a companywide customer orientation with a plan of achieving long-run success. The concept is important in today’s market because its’ primarily a buyer’s market, meaning that the buyers can choose from a variety of goods and services. Today marketing centers on the satisfaction of customers and building long-term relationships with those customers.
References
American Marketing Association (2012) Definition of Marketing. Retrieved October 20, 2012 from: http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx
Armstrong, G., & Kotler, P. (2011). Marketing: An introduction. (10 ed.). Boston: Prentice Hall.
Perreault, W., Cannon , J., & McCarthy, E. (2011). Basic marketing: A marketing strategy planning approach. (18 ed.). New York:
NAME
MKT/421
October 17, 2012
Defining Marketing Marketing can come in many terms depending on which product is marketed. It is my assertion that marketing is basically an activity used to sell a product which requires sells techniques, business communication, and business development. The marketing process includes strong customer relationships and a commitment to the business customers. Businesses both large, and small desire to retain their customers; therefore, to make customers happy businesses will make customers the focal point of the product. During the entire marketing process, the organization will concentrate on building, and maintaining good customer relationships. According to the American Marketing …show more content…
They further simplify their definition of marketing as “managing profitable customer relationships” (Armstrong & Kotler, 2011, p. 4). Armstrong and Kotler support their assertion by citing the customer success of Wal-Mart and its ability to deliver upon their promise to its customers to “Save money. Live better” (Wal-Mart, 2012). The challenging economy as provided Wal-Mart a valuable opportunity to showcase its pricing strategy that in their words assist their customers with saving money, stretching their paychecks, and providing a better life for their customers families (Wal-Mart, 2012). A third point of view of marketing provided by Perreault, Cannon, and McCarthy (2011), which summarizes the fore mentioned three definitions, defines marketing as the performance of activities that seeks to accomplish the organization’s objectives by anticipating the customer’s needs and directing a flow of need-satisfying goods and services from the producer to the client or …show more content…
Overtime, marketing has evolved through sales, production, marketing eras, and the current relationship era. Organizations did not recognize the importance of their customers until the marketing era of the 1950s (American Marketing Association, 2012). Marketing also refers to a companywide customer orientation with a plan of achieving long-run success. The concept is important in today’s market because its’ primarily a buyer’s market, meaning that the buyers can choose from a variety of goods and services. Today marketing centers on the satisfaction of customers and building long-term relationships with those customers.
References
American Marketing Association (2012) Definition of Marketing. Retrieved October 20, 2012 from: http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx
Armstrong, G., & Kotler, P. (2011). Marketing: An introduction. (10 ed.). Boston: Prentice Hall.
Perreault, W., Cannon , J., & McCarthy, E. (2011). Basic marketing: A marketing strategy planning approach. (18 ed.). New York: