What is Marketing? Assignment

What is Marketing? Assignment Words: 669

What Is Marketing Introduction Marketing has evolved a lot over the past few decades. It has adapted through the times changing. With the recognition of the Ad Age and Generation Y, marketing has become more interactive with the use of color, image and sound. Marketing isn’t only all about bringing the fun out of a product and service, but also a management strategy to improve profitability, through the transfer of goods and services for money and vice versa. Marketing Definitions The definitions of marketing may all have different meanings, but they all have one purpose.

The definitions below may either contradict with one another or mean similar things. Kettle (2009) defined marketing as 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 (Kettle 2009. P. 7). Here, marketing is seen as an activity, in which an exchange of products and services are made between organizations and consumers. In the 21st century, it is agreeably a process of communication.

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The 21st century technology has advanced, where society lies on forms of communication to be attracted. Vary (2002) saw marketing as a way of satisfying a customer. Hence Marketing is concerned with creating and sustaining mutually satisfying exchanges of value between producer/servers and their customers. It has both a managerial orientation and an organizational/social function. (Vary 2002. P. 4). Marketing does play a major role In an organization. It increases profitability for an organization, yet satisfies the consumer.

When both stakeholders are happy with profit and product, a valid exchange is made. Surfboard ND Sold (1987, p. 42) went as far as to connect Marketing to the international world Marketing Is a mediated activity occurring within the economic sphere that employs strategies Intentionally rendered and goal-directed towards the exchange of goods and services. (Surfboard Sold 1987. P. 42) In comparison to Jostlers (2009) definition of marketing acting as an activity.

Surfboard Sold (1987) have also referred to marketing as an activity, and have mentioned marketing as an International concept. In 1929, Valley Galapagos (cited In Peterson 2002) referred to racketing as Mainly concerned with changes in the time, when, and the place where, commodities are available for use (Avail, R. S Galapagos, P. L. 1929. P. 16). The definition made by both Avail Galapagos (1929) was simple. It gave us lee-way to make our own Interpretation. It showed Initiative by making It clear that Marketing can change overtime.

This proves the viewpoint of Marketing having different view points to every individual. Carmen, J. M (cited in Peterson 2002) defined marketing as Marketing is the process in a society by which individuals or public and private organizations identify the needs and wants of their respective clients, design and develop the products, services, and ideas to satisfy these needs and wants, communicate information about them, distribute them, and exchange them so as to create value for the parties involved. (Carmen,J. M. 1980).

Similarly to Kettle (2009) and Vary (2002), Carmen (1980) has included the key term client in their definition to outline the Importance of such a stakeholder. Carcass (1980) viewpoint. This view also distinguishes that products and services must be created in order to fulfill a 1 OFF o the times and analyzing the definition of marketing. The best definition would be that of Carmen, J. M (1980). This definition showed a lot of intuition. It was not bias, and brought forward points for both consumer and organization.

It was descriptive, and could be used at any time of a product cycle and as times change. Its is adaptable to society from years down the track, where products have either improved or lost its natural quality. Conclusion Marketing plays a large role in our lives. Unknowingly, we are exposed to it through many forms, such as a billboard, television advertisement, radio, magazine etc. However, we are attracted mostly to those products our hearts desire, based on our culture and values, age, gender and demographics.

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