Marketing can broadly be defined as the business process and technique to promote its goods and services amongst the people or prospective customers. The fundamental objective of businesses is to make profit through product and services that meet the requirements of customers…
As such, marketing opens a wide vista of opportunities for buyers and sellers where needs are created and later satisfied by the promised product. In the contemporary environment of advancing technology and globalization marketing requires creative input to gain competitive advantage. Wilson and Gilligan, (2003: 4) assert that ‘marketing is increasingly being conceptualized as an organizational philosophy or ‘an approach to doing business’. The changing social structure and technology has significantly influenced the consumer buying behavior that has been empowered with wide source of informed choices through internet and computers. The expectations of consumers from the product and services have been redefined to encompass important issues like environment conservation, socially responsible behavior etc. Hence, marketing has become key element of organizational success. The various imperative of market strategies like brand creation, market segmentation, advertisements etc are important issues which help to credibility and awareness regarding products and services. Marketing helps to develop committed database of customers whose changing preferences are met through customization of products and services that meet their requirements. (words: 258) Reference Kotler, P., et al. Marketing, 7th ed. Australia: Pearson Education Australia, 2007. Wilson, R. and Gilligan, C. ...
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(Marketing Essay Example | Topics and Well Written Essays - 250 Words - 8)
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A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target market in mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group.
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
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