MARKETING DEFINED The Maanza international glossary and Dictionary of Marketing.

The Maanza international glossary and Dictionary of Marketing. Austrian Association of Marketing
Maanz Marketing association of Australia and New Zealand
http://www.marketing.org.au/default.aspx?i=o7/3rRJaaY0=&t=jZS6ngCVPug=

MARKETING DEFINED .

Marketing is the managment processes responsible for identifying, anticipating and satisfying consumer requirents profitably.

Positioning a judgment of the consumers perception of a product's value and benefit, compared to other, competing products. Creating the best possible positioning for your product. The location of advertisments in printed media or of a commercial radio or TV program.
Positioning theory advertising style devoted to owing a part of the consumer's mind, so occupying a position of trust and loyalty for the brand concerned.


Marketing is the process of planning and executing the conception,pricing, promotion, and distribution of ideas, goods, and services to create exchanges that are satisfying individual and organization goals.



Marketing consist of activities that facilitate and expedite satisfying exchange relationships in a dynamic enviorment throught the creation, distriburition, promotion, and pricing of products (goods, services, and ideas)




Marketing is the process by which companies create customer interest in goods or services. It generates the strategy  that underlies sales techniques, business communication, and business development. It is an integrated process  through which companies build strong customer relationships and create value for their customers and for     themselves.



Marketing is used to identify the customer, to keep the customer, and to satisfy the customer. With the customer as


the focus of its activities, it can be concluded that marketing management is one of the major components of

business management.




The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of
target markets and delivering the desired satisfactions.








It proposes that in order to satisfy its organizational


objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively

than competitors.[2]



Further definitions


Marketing is defined by the American Marketing Association (AMA) as "the activity, set of institutions, and

processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients,

partners, and society at large."[3] The term developed from the original meaning which referred literally to going to

a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering views

marketing as "a set of processes that are interconnected and interdependent with other functions,[4] whose methods

can be improved using a variety of relatively new approaches."

The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying,

anticipating and satisfying customer requirements profitably."[5] A different concept is the value-based marketing

which states the role of marketing to contribute to increasing shareholder value.[6] In this context, marketing is

defined as "the management process that seeks to maximise returns to shareholders by developing relationships with

valued customers and creating a competitive advantage."[6]



Definition of Marketing




The following definitions were approved by the American Marketing Association Board of Directors:



Marketing:



Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved October 2007)



Marketing Research:



Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications. (Approved October 2004)





marketing

jury of executive opinionexecutive directorDefinitionThe management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy.



As a philosophy, marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs."

Read more: http://www.businessdictionary.com/definition/marketing.html#ixzz1rMNa2njT


http://www.marketing.org.au/?i=Xn3dEjHBZ5M=&t=jZS6ngCVPug=

 By Alvin J. Silk, Harvard Business
Marketing refers to what an organization must do to create and exchange value with customers.
It has major role in setting a firms strategic direction
It also requires deep knowledge of customers, competitors, and collaborators and great skill in deploying and organization's capabilities so as to serve customers profitably.
Marketing is the process via which a firm creates value for its chosen customers. Value is created by meeting customer needs. Thus, a firm must define itself not by the products it sells, but by the customer benefit provided.
Marketing strategy
1) selecting a target market and determining the desired positioning of the product in the target customer's mind.
2) specifying the plan for the marketing activities to acheive the desired positioning.
Five major areas underlying marketing decision making. 5 C's.
1) Customer needs: What needs does the firm seek to satisfy.
2) Company skills: what special competence does the firm possess to meet those needs?
Competition: who competes with the firm in meeting those needs?
Collaborators: whom should the firm enlist to help it and how can the firm motivate them?
Context: which cultural, technological, and legal factors limit the possibilities?
The leads to specification of a target market, desired positioning and the marketing mix. Resulting in customer acquistion and retention strategies driving the firm's profitability.
Mass Market- Market segment-Market niches-Individuals
<iframe frameborder="0" scrolling="no" style="border:0px" src="http://books.google.ca/books?id=jU9i0aNpAw4C&lpg=PR1&dq=what%20is%20marketing&pg=PA9&output=embed" width=500 height=500></iframe>


Marketing planning


The area of marketing planning involves forging a plan for a firm's marketing activities. A marketing plan can also

pertain to a specific product, as well as to an organization's overall marketing strategy. Generally speaking, an

organization's marketing planning process is derived from its overall business strategy. Thus, when top management

are devising the firm's strategic direction or mission, the intended marketing activities are incorporated into this plan.

There are several levels of marketing objectives within an organization. The senior management of a firm would

formulate a general business strategy for a firm. However, this general business strategy would be interpreted and

implemented in different contexts throughout the firm.

Marketing strategy

The field of marketing strategy encompasses the strategy involved in the management of a given product.

A given firm may hold numerous products in the marketplace, spanning numerous and sometimes wholly unrelated

industries. Accordingly, a plan is required in order to manage effectively such products. Evidently, a company needs

to weigh up and ascertain how to utilize effectively its finite resources. As an example, a start-up car manufacturing

firm would face little success, should it attempt to rival immediately Toyota, Ford, Nissan or any other large global

car maker. Moreover, a product may be reaching the end of its life-cycle. Thus, the issue of divest, or a ceasing of

production may be made. With regard to the aforesaid questions, each scenario requires a unique marketing strategy

to be employed. Below are listed some prominent marketing strategy models, which seek to propose means to

answer the preceding questions.

Marketing specializations

With the rapidly emerging force of globalization, the distinction between marketing within a firm's home country

and marketing within external markets is disappearing very quickly. With this occurrence in mind, firms need to

reorient their marketing strategies to meet the challenges of the global marketplace, in addition to sustaining their

competitiveness within home markets.[13]

Buying behaviour

A marketing firm must ascertain the nature of the customers buying behaviour, if it is to market its product properly.

In order to entice and persuade a consumer to buy a product, marketers try to determine the behavioural process of

how a given product is purchased. Buying behaviour is usually split in two prime strands, whether selling to the

consumer, known as business-to-consumer (B2C) or another business, similarly known as business-to-business

(B2B).












What Is Marketing?