PiticStyle

WHAT IS MARKETING?

The American Marketing Association defines marketing as follows: “the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.”1 Several key ideas are expressed in this definition. First, marketing is a managerial function involving both planning and execution. Thus marketing is not a group of unrelated activities but tasks that are planned and
executed to attain identifiable objectives. Second, marketing involves the management of specific elements or functions: product, pricing, promotion, and distribution. These functions constitute the work or substance of what marketing is all about. To be involved in marketing means being involved in the planning, execution, and/or control of these activities. Third, marketing is goal oriented. Its aim is to create exchanges that satisfy individual and organizational objectives. Marketing’s concern is with customers and meeting a need in the marketplace.

However, its concern is not just with any customers or all customers but those preselected by management as the market segment(s) on which the company will concentrate. Thus, specific customers with their specific needs become the focal point of an organization’s marketing activities.

Steps to follow in marketing:

• Societal marketing orientation
• Understanding
• Planning
• Implementing
• Connecting with customers

Tags: Connecting with customers, Definition, Implementing, marketing, Planning, Societal marketing orientation, Understanding, What Is Marketing

This entry was posted on Monday, November 5th, 2007 at 4:09 am and is filed under Articles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.