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Marketing Paper Introduction There are many definitions of marketing that are in vogue. Kotler (2001) offers one of the shortest definitions of marketing and that is "meeting needs profitably.” American Marketing Association (2007) defines it as “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." Encompassing many aspects of marketing, the terse and objective definition of marketing can be given in this way: It is an activity by an organization that is focused on identifying and fulfilling the customer needs as successfully as possible so th
The marketing decides about what to produce and where to position and sell the product – which market segment to cater or how to differentiate the product from competition. Correct identification of all these tasks in proper direction is of paramount importance that eventually makes the organization thrive with ever increasing sales. It will be most appropriate to explore how the marketing function can turn the tides in company’s favor so that the company is put on high trajectory of growth with thumping profits. Smith (2011) argues that some airlines increase their costs by 25 percent just to get additional 5 percent of the market. It just does not make sense if profitability is one of the goals. Southwest airlines continued with a strategy of low pricing for over 4 decades albeit with a focus on target market and that concept always stayed with the company. ...
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