Marketing

One of the main management disciplines, encompassing all the strategic planning, operations, activities, and processes involved in achieving organizational objectives by delivering value to customers. Marketing management focuses on satisfying customer requirements by identifying needs and wants.

Definition 1:


Marketing is the process associated with promoted for sale goods or services. It is considered a "social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others." It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Definition 2:

The Chartered Institute of Marketing define marketing as 'The management process responsible for identifying, anticipating and satisfying customer requirements profitably'

Definition 3:

Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process'

Definition 4:

P.Tailor of www.learnmarketing.net suggests that 'Marketing is not about providing products or services it is essentially about providing changing benefits to the changing needs and demands of the customer (P.Tailor 7/00)'

Definition 5:

Marketing is the process of interesting potential customers and clients in your products and/or services.

The key word in this marketing definition is "process"; marketing involves researching, promoting, selling, and distributing your products or services.

Definition 6:

A social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others

Definition 7:

Management Process through which goods and services move from concept to the customer. As a philosophy, it is based on thinking about the business in terms of customer needs and their satisfaction. As a practice, it consists in coordination of four elements called 4P's:

(1) Identification, selection, and development of a product

(2) Determination of its price

(3) Selection of a distribution channel to reach the customer's place, and

(4) Development and implementation of a promotional strategy.

Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs."