Marketing Assignement
Unit 1, Marketing
Assignment 1- Investigate the concept and process of marketing
Introduction:
“Marketing can be thought of as a philosophy for business organizations”
Marketing can be explained by this sentence as organizations that have implemented marketing are working towards satisfying customers and perceiving their needs and wants. In this assignment I will look at the general areas such as the concept of marketing through the different marketing definitions, the various elements and among others to identify the “ground” aspects of marketing.
Compare alternative definitions of marketing:
Marketing can be defined in a many different ways and people pursue the definitions differently. In the following section I will describe the different definitions which are the most significant.
“Marketing deals with identifying and meeting human and social needs. One of the shortest definitions of marketing is “meeting needs profitably.””
The quote above by Phillip Kotler can be referred to the Management of exchange relations. This not only means the relation between the organization and consumers, but can also mean the relation between the organizations and its outside connections. For example the Danish beer brand Carlsberg, has a lot of restrictions or criterias that they encourage their suppliers to follow- they have for instant their own policies regarding the environment and social responsibility. It is very important for the company that this is disseminated in a prober way, so they keep having a first-class connection between their suppliers.
“Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation”
This is a different definition of Marketing from the text book, where the focus is aimed at making the consumers as happy as possible. This is likely to be one of the more essential issues in marketing.
“Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitable”
This definition is written in the text book and it refers to the customer satisfaction. An organization can ask the question “how do we make the customer satisfied?”- This draws the attention to the before mentioned definition. This process also collaborates with exchange relations, because we do this by for instant surveys to discover what the customer wants and needs are.
“Marketing is the process of planning and executing