Mkt 421 Week 1 Defining Marketing Analysis
Defining Marketing
MKT/421
The Concept of Marketing
Marketing is a concept most familiar as a consumer. However, marketing in the eyes of a business person can be seen as advancement or promotion. To a consumer marketing can be explained as a commercial, a magazine ad, billboards, etc. To a sales person marketing is a source of networking and self-promotion through branching out via social media outlets such as Facebook or Twitter. Marketing to most is simply the idea of selling on a large scale.
Marketing Defined by Experts
Marketing is a broad term and can be defined in countless ways. The author of What is Marketing?, Alvin J. Silk (2006) explains marketing as “the process via which a firm creates value for its chosen customers. Value …show more content…
Product is defined as the physical product or service. The decisions to promote a new product/service, the brand name, materials that go into making the product, accessories, warranties, safety features, etc., are all examples of product decisions. Once the decision on product has been determined a price point needs to be established. The price should be in-line with the existing market, what consumers are willing to pay for the product/service, price stagey, wholesale, discounts seasonal pricing, flexibility, bundling, etc. These questions should be answered based on sales projections and consumption …show more content…
Marketing can be done extravagantly with billboards, flashy commercials, sponsorships, etc. However, marking can be done cheaply through word of mouth, social media outlets, blogging, vlogging, etc. Marketing is a way of life for some and involves everyone.
Reference
Automobile Magazine. (2009). Great Rivalries: Ferrari vs. Lamborghini. Retrieved from http://www.automobilemag.com/features/news/0909_ferrari_vs_lamborghini_great_rivalries/
Kotler, P., & Keller, K. L. (2012). Marketing Management (14th ed.). Retrieved from The University of Phoenix eBook Collection database.
NetMBA Business Knowledge Center. (2010). The Marketing Mix (The 4 P's of Marketing). Retrieved from http://www.netmba.com/marketing/mix/
Perreault, W. D., Cannon, J. P., & McCarthy, E. J. (2011). Basic Marketing - A Marketing Strategy Planning Approach (10th ed.). Retrieved from The University of Phoenix eBook Collection database.
Sabatini, M. (2012). Google Play (Android Market) vs Apple App Store - 2012. Retrieved from http://www.androidauthority.com/google-play-vs-apple-app-store-2012-76566/
Silk, A. J. (2006). What is Marketing?. Boston, Massachusetts: Harvard Business School Publishing Corporation. Retrieved from
MKT/421
The Concept of Marketing
Marketing is a concept most familiar as a consumer. However, marketing in the eyes of a business person can be seen as advancement or promotion. To a consumer marketing can be explained as a commercial, a magazine ad, billboards, etc. To a sales person marketing is a source of networking and self-promotion through branching out via social media outlets such as Facebook or Twitter. Marketing to most is simply the idea of selling on a large scale.
Marketing Defined by Experts
Marketing is a broad term and can be defined in countless ways. The author of What is Marketing?, Alvin J. Silk (2006) explains marketing as “the process via which a firm creates value for its chosen customers. Value …show more content…
Product is defined as the physical product or service. The decisions to promote a new product/service, the brand name, materials that go into making the product, accessories, warranties, safety features, etc., are all examples of product decisions. Once the decision on product has been determined a price point needs to be established. The price should be in-line with the existing market, what consumers are willing to pay for the product/service, price stagey, wholesale, discounts seasonal pricing, flexibility, bundling, etc. These questions should be answered based on sales projections and consumption …show more content…
Marketing can be done extravagantly with billboards, flashy commercials, sponsorships, etc. However, marking can be done cheaply through word of mouth, social media outlets, blogging, vlogging, etc. Marketing is a way of life for some and involves everyone.
Reference
Automobile Magazine. (2009). Great Rivalries: Ferrari vs. Lamborghini. Retrieved from http://www.automobilemag.com/features/news/0909_ferrari_vs_lamborghini_great_rivalries/
Kotler, P., & Keller, K. L. (2012). Marketing Management (14th ed.). Retrieved from The University of Phoenix eBook Collection database.
NetMBA Business Knowledge Center. (2010). The Marketing Mix (The 4 P's of Marketing). Retrieved from http://www.netmba.com/marketing/mix/
Perreault, W. D., Cannon, J. P., & McCarthy, E. J. (2011). Basic Marketing - A Marketing Strategy Planning Approach (10th ed.). Retrieved from The University of Phoenix eBook Collection database.
Sabatini, M. (2012). Google Play (Android Market) vs Apple App Store - 2012. Retrieved from http://www.androidauthority.com/google-play-vs-apple-app-store-2012-76566/
Silk, A. J. (2006). What is Marketing?. Boston, Massachusetts: Harvard Business School Publishing Corporation. Retrieved from