University:
Angelo State University
Course:
MKT 3321 | Marketing
Academic year:

2021
Views:

215

Pages:

2
Author:

ilikemyicons0y5

Modern Marketing Definition "Marketing" is an organizational function and a set process for creating communicating and delivering value to customers and for managing customers relationship in way that benefit the organization and its stakeholders. It generates the strategy that underlies sale techniques, business communication and business developments. Modern marketing is a holistic, agile, data-driven methodology that connects brands with their ideal customers to drive targeted business results. Though the elements can be assembled in an infinite number of ways, a modern marketing approach always blends creative thinking and execution with research, strategy, technology, and analysis to achieve organizational goals As a planning and implementation of the overall perception of pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy the needs of the process of individuals and enterprises process It is important here to distinguish between sales and marketing, where the sale is part of the marketing, conception Bearish focuses on consumer persuade the purchase of a good or service has been produced in advance either marketing concept is based upon the role of the institution to discover the needs and consumer desires and attempt to develop the product or service that satisfy these needs and desires in order to make a profit here and conclude that companies that adopt the marketing concept be better able to achieve success and profit The consumer-oriented marketing has given rise to a new philosophy in business known as 'marketing concept'. The marketing concept emphasises the determination of the requirements of potential customers and supplying products to satisfy their requirements. Under the marketing concept customer is the fulcrum around which the business moves. The objective of a firm is not the maximisation of profitable sales volume but profits through satisfaction of customers. And all the marketing activities in a firm are integrated and directed towards this objective. The managers practicing this philosophy think in terms of what benefits the market or what needs are they satisfying. The marketing concept considers marketing as an integrated process of identification, assessment and satisfaction of human needs and wants. It regards creation of customer and satisfaction of his wants as the justification of business. Determination of wants of the customers takes precedence over production and other business activities. In other words, production is carried on according to the needs of the customers. Thus, the emphasis in modern business is on selling satisfaction and not merely on selling goods.