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Marketing and the Marketing Process

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Submitted By odavis19
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Marketing and the Marketing Process
Marketing deals with customers more than any other business functions. Marketing is managing profitable customer relationships. Marketing has a twofold goal. They are to attract new customers by promising superior value, and keep and grow current customers by delivering satisfaction. The American Marketing Association defines marketing as “The Process of planning and executing the conception, pricing, promotion, and distribution of ideas, good, and services to create exchanges that satisfy individual and organizational objective”.
The Marketing process is the method of evaluating openings, choosing the proposed customer, addressing the consumer needs and wants, describing the price, product, place and promotion and addressing the marketing campaign. The marketing process takes major responsibility to control overall marketing strategy. The marketing process has 5 steps that lead to a successful advertising campaign. In the first four steps, companies work to understand consumers, create customer value, and build strong customer relationships. In the final step, companies reap the reward of having superior customer value. Now, we will explore the steps of the marketing process.
Step 1 is marketers need to understand the market place and the needs and wants of customers. There are five core customer and market place concepts. Needs, wants, and demands is one. Human needs are states of felt deprivation. Human wants are the form human needs take as they are shaped by culture and individual personality. Wants backed by buying power are demands. The second one is market offerings are some combination of products, services, information, or experience offered by a market to satisfy a need or want. Three is customers form expectations about the value and satisfaction that various markets offerings will deliver and buy accordingly....

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