MARKETING ASSIGNMENT

Marketing

Marketing

Question 1a:

Definition of Marketing, According to Various Experts in the Field:

For Philip Kotler “Marketing is a social and administrative process by which individuals and groups obtain what they need and want by generating, providing and exchanging products of value with their peers” (Armstrong & Kotler, 2003, 11).

According to Jerome McCarthy, “marketing is the performance of those activities intended to meet the goals of an organization to anticipate customer requirements and customer and channel flow of goods suitable to the needs and the producer services provides the consumer or customer” (Rogers, 2001, 189-196).

Stanton, Etzel and Walker, propose the following definition of marketing: “Marketing is a total system of business activities designed to plan products satisfier of needs, to price, promote and distribute to target markets in order to achieve the objectives of the organization “ (Moschis, 1994, 56-64).

For John A. Howard, Columbia University, “and l marketing is the process of:

Identify the consumer's needs,

Conceptualize such needs depending on the company's ability to produce,

Communicate such concepts to those who are capable of making decisions in the company.

Production in conceptualizing the role of the identified needs of the consumer, and

Communicate to the consumer such a conceptualization” (Gummesson, 2002, 125-131).

In summary, taking into account the above definitions, I propose the following definition of marketing:

Marketing is a whole system of activities that include a set of processes by which, we identify the needs and desires of consumers or customers and to satisfy them as best as possible to promote the exchange of products and / or services of value them, in return for a utility or benefit to the business or organization for them.

Accordingly, the company's success depends primarily on the market and customer orientation. In the previous historical periods of price and product orientation, it was mainly the cheaper cost mass production products that sold in a shortage economy where the demand is greater than supply; virtually automatically. Ever, in a so-called affluent society (supply is greater than demand), “The marketing concept holds that the key to Achieving organizational goals is being more effective than competitors in creating, delivering, and communicating superior customer value to your chosen target markets” (Armstrong & Kotler, 2003, 110-115). And this was only possible through a holistic approach in which all business functions are aligned to the target market and customer focus (holistic marketing concept).

The further development of the marketing concept leads to relationship marketing, whose primary objective is “to build mutually gratifying long-term relationships with customers, marketing partners, employees, (suppliers channels, dealers, distributors, agencies), and members of the financial community (shareholders, investors, analysts). Marketers must respect the need to create prosperity among all these constituents “(Douglas & Craig, 2000, 212-219). In other words, at the leaders in marketing are enormous challenges in the future.

Question 1b:

Samsung depend on their customers and, therefore, understand current and future needs of its customers, meet the requirements, always look for them and exceed their expectations.

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