Paper Topic:

Marketing

Marketing

The broad definition of marketing is given by the Chartered Institute of Marketing : Marketing is the management process responsible for identifying , anticipating and satisfying consumers ' requirements profitably (Definitions of Marketing , 2001 . A marketing theorist and researcher

. D . Bennet (1995 ) proposes the following definition "Marketing is the process of planning and executing the conception pricing , promotion , and distribution of ideas , goods , services organizations , and events to create and maintain relationships that will satisfy individual and organizational objectives (Bennet , 1995 : 166 Another definition proposed by American Marketing Association (AMA states

that marketing is : the process of planning and executing the conception , pricing , promotion , and distribution of ideas , goods , and services to create exchanges that satisfy individual and organizational objectives (Kyler , 2006 . In contrast to Bennet , AMA suggests that marketing is supported only by advertising , promotion , distribution activities etc . It is an activity that involves all stages from product design , manufacturing to selling . These definitions have much in common stating that marketing is a process of planning business activity in to meet the needs and expectations of customers . On the other hand , Bennet pays more attention to the process of planning and relationships within organization , while more recent definitions see marketing as a philosophy of companies involving all spheres of business activity . In general , it is evident that marketing is a bridge between the needs and wants of customers , and the organization 's ability and capacity to satisfy them . Marketing includes such elements as planning promoting , distributing , pricing , and support of the goods , services and information to be provided to intermediate and ultimate consumers Marketing is the planned application of marketing resources to achieve marketing objectives . Given the increasing turbulence and complexity of the market place , and the rapid pace and impact of technological change the need for a disciplined , systematic approach to the market has never been greater

IBM is one of the companies which use marketing strategy to meet market needs . The company management understands who is the consumer and what value is required , and how best to deliver this value on a sustainable basis in line with the organization 's overall corporate objectives There are a lot of examples of unsuccessful marketing strategies among international companies which fail to meet requirements of foreign markets and customers . Nike had made some unsuccessful attempts before entered the skate-shoe market (Haider , 2004 . For a long time , the company could not find the marketing strategy penetrate this market met with a general resistance from the skateboard industry (Haider 2004 . These examples illustrate that marketing can be used to decrease consumption of certain products if the company is not interested in a certain type of goods proposing consumers innovative products (Bennett 1995 . So , marketing can be used to integrate of the elements of a marketing program that will best achieve the objects of a company in a given time period . Success can be measured by a company producing most profit from a mix of the variables : planning , pricing , branding etc also , These...

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