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Submitted by laska on March 16, 2008
Category: Business
Words: 1111 | Pages: 5
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What is marketing?
There are plenty of different definitions about how the marketing can be described. It is mainly about meeting the different needs and wants of customers and about understanding the customers themselves in order to find ways how to provide right products or services which are required.
Marketing is the most important activity in a business and it is considered as a central function of many organizations which have implemented a market orientated approach. It is directly influencing the sales and profitability of businesses.
Most of us will connect marketing with selling, pricing, product development, setting of activities like market research (which can adopt some changes in demand) or some kind of advertising, promotion of the product that will attract and keep the customers, because people never know what they want until it is presented to them, said Alan Grover., (1994)page 3.
We can define marketing as some management process with the central focus on satisfying customer needs and wants ensuring that its quality, availability and price meet the needs of the market. This must be done efficiently in order to achieve some profitability. "The management process which identifies anticipates and satisfies customer requirements efficiently and profitably."(p.2, Marketing Fundamentals)
So, marketing can be described as both, a management philosophy', which determines the strategic orientation of an organisation and function in an organisation involving series of techniques like selling or pricing. Marketing can be also called concept' for running the business. Through marketing the organisation can learn more about its customers and competitors so they are able to provide the right products at the right price in the right place for the right quality promoted in the right way in order to achieve the business objectives.
The marketing philosophy involves three basic propositions: customer...
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