Business / Defining Marketing
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Autor: anton 21 May 2011
Words: 632 | Pages: 3
Marketing originated almost a century ago. Through the years its definition has changed drastically. I have always viewed marketing as anything that promotes sales or makes them increase in volume. The New Oxford American Dictionary defines marketing as the action or business of promoting and selling products or services, including market research and advertising. Goals indicate what a business unit wants to achieve; strategy is a game plan for getting there. Every business must design a strategy for achieving its goals. The strategy must consist of a marketing strategy, a compatible technology approach, and a sourcing plan. A useful tool for identifying relevant screening criteria and for zeroing in on a feasible strategy is S.W.O.T. analysis. It identifies and lists the firmâ€™s strengths and weaknesses and its opportunities and threats. Managers can use this tool to focus on an organizations strengths and opportunities while avoiding its weaknesses and threats. â€œMarketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders (Kotler and Keller, 2006, p.6).â€
Simplicity, continuity, and experimentation will pave the road to successful marketing, while complacency, overspecialization, and multistep processes impede smooth operations. General Motors elaborate organization has hindered its ability to adjust to todayâ€™s intense global competition in cars. A lengthy chain of command slows the decision making process.
Organizational success occurs when the marketing concept works together with good management approaches and with ethical business practices in order to satisfy the needs and wants of the various publics of the organization itself. In A Framework for Organizational Success the authors propose that focusing on one concept and ignoring the other two aspects, is not likely to promote organizational success. On the other hand it can be said that a firm that is ethical will, unavoidably, consider its customersâ€™ needs, consider societyâ€™s needs, and consider the needs of its employees and suppliers. Primerica Financial Services considers the needs of its employees by granting their regional vice presidents equity ownership of the company. Valuable employees are retained through these types of practices. They are more likely to service their customers with a better attitude and loyalty in order to retain them for the organization that services their needs in the same type of way.
Marketing is a science in itself. If it is mastered properly it rewards the organization with loyal customers that keep coming back and endless referrals. Corporate success occurs when an organizations marketing concept agrees with that of its management style and ethical values. As our economy grows and changes so does marketing; adaptation to these changes is key.
"marketing n." The New Oxford American Dictionary, second edition. Ed. Erin McKean. Oxford University Press, 2005. Oxford Reference Online. Oxford University Press. Apollo Group. 29August2007 http://www.oxfordreference.com/views/ENTRY.html?subview=Main&entry=t183.e46947
Marketing Management, 12/e P. Kotler and K. Keller Pearson/Prentice Hall, 2006
Upper Saddle River, NJ
Basic Marketing (15th ed.) William D. Perreault, Jr. and E. Jerome McCarthy McGraw-Hill/Irwin, 2005 New York, NY
A Framework for Organizational Success Friedman, Hershey H.; Friedman, Linda Weiser Journal of Business Ethics; Mar 1988; 7, 3; ABI/INFORM Global pg. 219
Eight Ways To Avoid Marketing ShockMagrath, Allan J. Sales and Marketing Management; Apr 1989; 141, 5; ABI/INFORM Global pg. 55
Donaton, S. (2004, February 23). Itâ€™s time to take a fresh look at the definition of marketing. Advertising Age, 75(8), 16-16. Retrieved August 28, 2007, from Communication & Mass Media Complete database.
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