Marketing



Marketing

Definition

Personal Definition of Marketing

Marketing according to me is satisfying customer's need profitability. It is highly required to identify the need of the customer and while selling those good or service there should be a profit margin. Selling the good on higher price without satisfying the need won't bring the customer back, and if only satisfying the need of the customer without satisfying the need of the customer will not let a person doing business (Lazer, 1969).

Marketing definition by Philip Kotler

The marketing guru Philip Kotler defines marketing as satisfying want and need of the customer and there should be an exchange process. Customer will only agree to the exchange, if he/she feels that the need is being satisfied, visibly the transactions value cannot be additional than the amount customer is ready to pay to satisfies his/her need. This focuses on the value of the good and means that the satisfaction should be equal or exceeding the amount of money that the customer has paid for the good or service.

Marketing definition according to the American Marketing Association

According to the AMA marketing refers to the set of activities, including institution, and process for providing, communication, delivery, and exchange offer that has value for customer, client, partner, and society at large scale. This set of definition has included vast areas and aspects other than the customer and manufacturer. It just not has focused the final consumer, but all the customer, partners. It has also the aspect of corporate social responsibility that means that the marketing activities should have a positive impact on the environment and society (McKenna, 1991).

Role of Marketing in Organizational Success

There is a significant role of marketing in the organizational success. Marketing is responsible for the promotion, and distribution of the product and service. The marketing department knows what the product is and what the target market for the particular product is. There are several techniques and strategies that make the product successful and failure. According to my definition, it is the role of the marketer to identify the need of the customer and satisfy it. This procedure should bring significant profit to the business also.

Marketing has the role to position the product in the kind of consumer, and if there is no need of the product in the market it is also the responsibility of the marketer to generate need and then sell the goods and ...