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Marketing Definition

In: Business and Management

Submitted By petrovarita
Words 1911
Pages 8
Marketing Unit
Assignment 1

1) Definitions of Marketing

There are many definitions of Marketing. Each of them includes different aspect of Marketing in a global business environment.
To see and highlight the differences of each definition I will write them down in order to see the full picture of what Marketing is all about.

• Marketing is the performance of business activities that direct the flow goods and services from organisations to their customers.

This is simplest statement which explains Marketing very generally as a “business itself”. The aim of any business organisation is to sell goods to the customers, therefore Marketing is a way to reach those customers.

• Marketing involves the business understanding the needs and wants of customers and adapting the operations to deliver the right goods and services more efficiently than its competitors.

There is big competition on a global business market, so to be ahead of competitors, the company is spending more money and time in order to find the right way of how to reach the right customers and send them the right information about the product to gain their interest.

• Marketing is concerned with the matching of an organisations capabilities with consumers wants.

Marketing plays the central place in business process by identifying the needs of consumers and then analysing whether is that particular organisation is able to satisfy these needs or not.

• Marketing is the process of determining consumer demand for a product, motivating its sale and distributing it into ultimate consumption at a profit.

Sale and profit is the key objectives at most organisations (except Charity run organisations). The cost of Marketing spenditure should be properly controlled and the sales income should exceed costs to maintain the financial balance and get profit from the product....

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