American Marketing Association:
Defines marketing as Marketing is the process of planning and executing the conception ,pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy the individual and organizational objectives.In short , marking's jobs is to convert people's changing needs into profitable opportunities.Marketing's aim is to create value by offering superior solutions, saving buyer search and transaction time and effort , and delivering to the whole society a higher standard of living.Marketing practice today must go beyond a fiction on transactions that often leads to a sale today and a lost customer tomorrow.
The marketer's social is to build a mutually profitable long-term relationship with its customers, not just sell a product. A business is worth no more than the lifetime value of its customers. This is calls for knowing your customers well enough to deliver relevant and timely offers, services, and messages that meet their individual needs.
David Packard of Hewlett-Packard:
Observed, Marking is much too important to leave to the marketing department.In a truly great marking organization, you can't tell who's in the marketing department .Everyone in the organization has to make decisions based on the impact on the customer.
As per professor Philippe Naert:
You will not obtain the real marking culture by hastily creating a marking department or team, even if you appoint extremely capable people to the job.Marketing begins with top management.If top management is not convinced of the need to be customer minded, how can the marketing idea be accepted and implemented by the rest of the company?Marketing is a total systems of business activities designed to pall, price,promote and distribute want- satisfying products to target markets to achieve organization objectives.
Marketing is essentially about marshaling the resources of an organization so that they meet the changing needs of the customer on whom the organization depends.Whether marking to customers, investors, or talent , you need to understand their needs and wants and present a competitively superior value proposition to win their favor.Marketing is about identifying and meeting human and social needs.One of the shortest good definitions of marketing is meeting needs profitably.
We can distinguish between a social and a managerial definition of marketing .A social definition shows the role marking plays in society.Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering,and freely exchanging products and services of value others.
Managers sometimes think of marking as the art of selling products , but many people are surprised when they hear that selling is not the most important part of marketing selling is only the tip of the marketing iceberg.
Peter Drucker, a leading management theorist , puts it this way.There will always , one can assume , be need for some selling.But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.Ideally , marketing should result in a customer who is ready or service available.The scope of marketing can be better understood in terms of functions that an entrepreneur has to perform , such as.
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