What is Marketing? Assignment

What is Marketing? Assignment Words: 408

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 and Sold (1 987, p. 2) 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 Settlers (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, Avail Galapagos (cited In Peterson 2002) referred to marketing as Mainly concerned with changes in the time, when, and the place where, modesties 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.

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