What is marketing? (original) (raw)
Sign up for access to the world's latest research
checkGet notified about relevant papers
checkSave papers to use in your research
checkJoin the discussion with peers
checkTrack your impact
Abstract
6 Rethink of the keywords: Management? Customer? Relationships? Profit? Marketing is managing profitable customer relationships, or, the process by which companies create value for customers and build strong customer relationships in order to capture value from customer in return. selling and advetising are only the tip of marketing iceberg-a set of marketing tools that work together to satisfy customer needs and build customer relationships.
Related papers
Marketing Management: Influences the Business Pattern in an Organization
International Journal for Research in Applied Science and Engineering Technology IJRASET, 2020
Marketing management is a process of creating and planning new product development, advertising and promoting the products and spreading the awareness about the product by advertising the product, and then selling the product in the market. The basic concept behind this marketing concept is producing the products by the organization after knowing the needs and demands of the targeted market. This works on customers values and needs which helps in making large sales and huge profits. Marketing management is based on analyzing, planning, implementing, and controlling the marketing plan. Marketing management is important as it is a process by which a product or service is introduced and advertised or promoted to the customers. Some marketing strategies are important to keep in mind such as analyzing the situation in which the customer needs are not fulfilled and serve as the basis for identifying the unfulfilled demands of the customer. It is done to know the capabilities of the company and then to understand the surroundings in which the company has to operate. Consumers can be located at different places geographically, which in turn automatically creates differences in the customer's needs. This can be tackled by studying the needs and wants of the consumers which are located at different places.
The Marketing Concept - Putting theory into Practice
This article has three objectives: 1. Develop a typology of approaches to marketing in evidence across a wide industrial spectrum. 2. To explore the implementation of marketing, under the various approaches identified above. Specifically, to examine attitudes towards, organisation for and execution of, marketing effort. 3. To relate the various marketing approaches to corporate performance.
The American Marketing Association Definition of Marketing: Moving from Lagging to Leading Indicator
Journal of Public Policy & Marketing, 2007
Rather than constraining scholars whose focus is marketing and society, the 2004 American Marketing Association (AMA) definition of marketing has provoked warranted criticisms of the informal and sporadic AMA definition-making process and has served as a catalyst for vigorous discourse on the proper conceptual domain and impact of marketing. Thus, the 2004 AMA definition of marketing has stimulated an important, healthy debate and has motivated reform of the AMA definition-making process.
Asian Development Policy Review, 2017
This paper endeavors to describe the core concept of marketing and marketing management with the means of existing studies. However, it is occasionally observed that business students narrow the concept of marketing and limit to advertising or promotional activities. However, the contribution of this paper is to enrich student's knowledge and attempts to diminish misconception among young students. Consequently, the study is compiled with the help of comprehensive literature review through research papers, books, official web sources, and some interviews of seniors Professors in the discipline of marketing management. Therefore, the current study endeavored to highlight the concept of marketing and represented that marketing is not limited to advertising activities. Despite, it is a complete strategic process which creates value for the customers and raises the long-term relationship with them. While promoting the product through distinct advertising mediums is an essential element of the marketing management process. Furthermore, the present study provides a structure to marketing students in order to grasp the fundamentals associated with marketing philosophy. Contribution/ Originality: The present study would contribute in the literature of marketing philosophy and insights of the management together with associated concepts. However, this study might be helpful for fresh students of business schools to grasp the fundamentals of market, marketing, and marketing management. 1. INTRODUCTION The definition of any theory or concept is exceptionally important, which helps to explain its content, scope, boundaries, and subject matter. According to Gundlach (2007) a definition provides understanding and communication to distinguish any terminology. In the domain of marketing, a well-explained rationale allows professional and students a quick and better conceptualization about marketing (Gundlach, 2007). The need to write this paper is actualized when some business students were observed relating marketing concept to advertising and promotional tools, not more than it. However, actual concept of the marketing is different and considerably broader in scope. Consequently, it is remarkably essential for students, particularly, marketing students to realize the central philosophy of the marketing.
Journal of Public Policy & Marketing, 2009
In a follow-up to the fall 2007 special section of Journal of Public Policy & Marketing that examined implications of the American Marketing Association's (AMA's) 2004 definition of marketing, the authors examine the AMA's revision of its definition-the new 2007 definition of marketing. The article first describes the concerns about the 2004 offering and then traces the process taken by the AMA to consider these issues and revise the definition. The authors conclude that the new definition addresses many of the major issues with the 2004 definition that had been identified by scholars contributing to the special section. They highlight several positive qualities of the new definition and describe how these attributes have the capacity to enhance marketing scholarship and practice into the future.
IOP conference series, 2016
The article takes as a starting point several complementary definitions of marketing. Also present several key points related to marketing policy: defining the position that the company will occupy on the market with respect to competition, fixing the image with what will approach the market, achieving a balance between turnover rates profit and expenses as a condition for the survival of the company. In below article it is proposed an original concept of marketing management. This concept takes into consideration on the one hand correlations between company position in the market definition and on the other hand the image received by customers. The ultimate goal of this original concept of marketing management is to ensure an effective balance between: the turnover rate of profit and expenses of the company.
The Core Concept of Marketing Management 2 Wulff Plinke
This chapter focuses on the evolution of the marketing concept and the components of marketing management in firms. The first part is about the way our understanding of marketing has developed over time, including market and customer orientation. The second part discusses in more depth the management of marketing activities in firms and the nature and role of market and customer orientation.
The Marketing Review, 2011
The concept of marketing has been debated and evaluated regularly since marketing was recognised as a distinctive discipline and domain. Many definitions of marketing have been put forward over the years as each generation tries to capture what marketing is and what it means to them. Over the past 50 years, marketing has been redefined to fit new contexts, for example in not-for-profit, political and social sectors. In more recent years, new technology, techniques and media have brought with them more opportunities for re-defining marketing. These definitions often appear to dilute the meaning of marketing in some way, with the words marketing, sales, advertising, customer service and interactions used interchangeably and adapted by marketers or salespeople to suit their own job focus. Many definitions describe different facets and related terms but they do not always convey the much broader ideology and process that is part of marketing. Against this background this paper selects key definitions of marketing from the past 50 years and evaluates the differing perspectives offered by those definitions throughout the decades. Recurring themes used in definitions are presented decade by decade so that themes can be summarised and comparisons made. It then discusses the value and use of both traditional and more flexible definitions and interpretations of marketing for the 21st century.
Loading Preview
Sorry, preview is currently unavailable. You can download the paper by clicking the button above.
Related papers
Broadening the Concept of Marketing
Journal of Marketing, 1969
Marketing is a pervasive societal activity that goes considerably beyond the selling of toothpaste, soap. and steel. The authors interpret the meaning of marketing for nonbusiness organizations and the nature of marketing. functions such as product improvement, pricing, distribution, and communication in such organizations. The question considered is whether traditional marketing principles are transferable to the merketing of organizations, persons. and ideas.
On defining marketing: finding a new roadmap for marketing
Marketing Theory, 2006
The American Marketing Association has updated its marketing definition and included value for customers and customer relationships in the new definition. Moreover, marketing is defined as one organizational function. Taking mainly service and relationship marketing research as a starting point, this present article broadens the discussion to a generic marketing level, and analyses the underpinning logic of the updated definition. It concludes that the use of these elements of the definition is not well founded in current research. Also, it shows that marketing cannot be treated as one organizational function only. Drawing on the analysis of the updated definition, a set of propositions regarding the scope and content of a marketing definition are developed. Finally, based on the analysis and this set of propositions, an alternative marketing definition, based on the promise concept, and labelled a promises management definition, is suggested and its implications for marketing research and practice are discussed.
A Reappraisal on Marketing Definition and Marketing Theory
Journal of Eastern European and Central Asian Research, 2017
Based on a historical literature review, this study examines the definition of marketing and different marketing theories used in academic research. After a comprehensive review of different approaches to the definition of marketing, this paper provides a unique description of marketing, highlighting the new role of marketing in value creation during the traditional transaction exchange.
A Reappraisal of Marketing Definition and Theory
2017
Based on a historical literature review, this study examines the definition of marketing and different marketing theories used in academic research. After a comprehensive review of different approaches to the definition of marketing, this paper provides a unique description of marketing, highlighting the new role of marketing in value creation during the traditional transaction exchange.
The Role of Marketing in the Corporation: A Perpetual Work in Progress
SSRN Electronic Journal, 2000
This study critically examines the widely-held view that the role of marketing in corporations is in decline. Based on interviews and discussions with top marketing executives and chief executive officers from a broad sample of leading U.S. and global corporations, we describe major changes that are occurring in the organization and management of marketing activities in large manufacturing firms and compare these findings with earlier predictions. We find that there is still a wide range of opinion about the meaning of marketing, which increases the difficulty of assessing marketing performance and justifying the support and resources for marketing activities from top managers focused on shortterm financial objectives. At the same time, marketing as a distinct function with its own bureaucratic structure has become a more dispersed set of activities and responsibilities. One result of these developments, contrary to trends that appeared to be emerging in the early 1990's, is that marketing in many firms has "lost a seat at the table" as marketing expenditures have been reduced and marketing activities decentralized.
Determine How Much Different Marketing Companies Will Value Their Trademark
Determine How Much Different Marketing Companies Will Value Their Trademark, 2022
Marketing seems to be an interpersonal and managerial method that enables people or groups to obtain what they need and want from others by producing or trading value. Enhancing customer relations, production cost, and marketing power is the fundamental aim of community marketing. The focus of services marketing strategies is the provision of clients with procedures, experiences, and intangibles as opposed to actual sales and transactions. Service characteristics include those related to the customer interface, processes, outcomes, and other qualities.
Demonstrating the Value of Marketing
Marketing departments are under increased pressure to demonstrate their economic value to the firm. This challenge is exacerbated by the fact that marketing uses attitudinal (e.g., brand awareness), behavioral (e.g., brand loyalty), and financial (e.g., sales revenue) performance metrics, which do not correlate highly with each other. Thus, one metric could view marketing initiatives as successful, whereas another could interpret them as a waste of resources. The resulting ambiguity has several consequences for marketing practice. Among these are that the scope and objectives of marketing differ widely across organizations. There is confusion about the difference between marketing effectiveness and efficiency. Hard and soft metrics and offline and online metrics are typically not integrated. The two dominant tools for marketing impact assessment, response models and experiments, are rarely combined. Risk in marketing planning and execution receives little consideration, and analytic insights are not communicated effectively to drive decisions. The authors first examine how these factors affect both research and practice. They then discuss how the use of marketing analytics can improve marketing decision making at different levels of the organization. The authors identify gaps in marketing's knowledge base that set the stage for further research and enhanced practice in demonstrating marketing's value.