Definition of Marketing Essay
Marketing has been considered as an important part of any business that aims to reach its consumers in an effective manner. Needs and demand of the consumers are taken into consideration by the businesses that are successful these days. In general marketing is not only the process of advertising products that are manufactured by an organization. Step by step processes are involved in marketing which if carried out in an analytical way can make the process more successful.
Following are a set of definitions that in different words define the processes involved in marketing. Different authors have defined the processes by arguing marketing as a process that includes a set of activities rather than defining it as a single step process.
“An activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large”.
According to this definition, marketing has been divided into sections that particularly define marketing as a set of activities. The definition is precise in defining the underlying processes as sections as communication with the consumers and producers, taking into consideration the interests and demands of customers and clients. Marketing has been defined in numerous ways and these
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1. Marketing has been defined by the Chartered Institute of Marketing as
“The management process responsible for identifying, anticipating and satisfying customer requirements profitably”. This definition defines only one aspect of marketing as compared to the definition given by Kotler et al. (2009) by only covering the aspect of customer needs and demands. Nevertheless an important aspect that defines the process of marketing has been covered highlighting the fact that customer needs and demands are an important part of marketing procedure.
2. Another definition of marketing given by Kerin (2008) says
“The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people”.
This definition has highlighted both aspects of marketing, communication and selling the product. However the aspect of communicating with the consumers has been covered to lesser degrees as compared to the aspects of selling the products to the same people whose demands are the foundations of these products.
3&4. Marketing has been defined by Ries and Trout (2005);
“Marketing is the process by which companies create customer interest in products or services. It generates the strategy that underlies sales techniques, business communication, and business development”. Ries and Trout (2005) have defined the concept of marketing in accordance to the definition given by Kotler et al. (2009) thereby highlighting that marketing is based on the interests of consumers.
Another similar definition of marketing has been given by Lamb, Hair, McDaniel, and McDaniel (2002) states
“Marketing is the process of interesting potential customers and clients in your products and/or services”.
An additional fact that has been highlighted in this definition is that manufacturing organizations are themselves the source of interest development in consumers in relation to the products they make. Apple Inc. is one such example, production of IPods has created an increased interest of the consumers of digital age demand music players that are portable and stylish and easy to use.
Moreover these two definitions have defined marketing as a process that includes researching into the interests of consumer, selling and promoting thereby linking to the definition of Kotler et al. (2009) who defined marketing as a set of activities. In addition to this it has been added that process of marketing also depends on the selling techniques that are employed by an organization considered as an important part of marketing process.
5. “Management process through which goods and services move from concept to the customer” is the definition given by Joyner (2009). This definition also highlights marketing as a process and a set of activities that help an organization in achieving its goals in relation to building its consumer base. It can be argued here that business process of based on marketing make use of the philosophy of linking all business processes with the consumers demands, needs and satisfaction.
Marketing is based on four basic process that have been highlighted by five definitions given in the previous sections. These four processes are also referred to as 4Ps of marketing. These include
(1) developing a product,
(2) price determination of the product,
(3) place of distribution of the product and
(4) Designing and implementing a promotion strategy or the product in order to reach the customers in an attractive and effective manner.
All six definitions that have been highlighted are inter related as these definitions have defined marketing as a set of activities that include researching, analyzing, producing, marketing and selling products that are designed in accordance to the demands of the consumers.