21 Aug Respond to… The concept of marketing management has n
Respond to…
The concept of marketing management has never been clearly defined as to how far can it go in its function and I believe this has caused a lot of misunderstanding over the years. Marketing is well-defined as “ a corporate state of mind that insists of the integration and coordination of all marketing functions which, in turn, are melded with other corporate functions, for the basic objective of producing maximum long-range corporate profits” (Houston, 1986, 81). It is a vivacious industry and a necessary element for companies to increase their revenue. The practice of marketing allows the creation of a process responsible for identifying, anticipating, and satisfying customer requirements in a profitable manner.
The administration of marketing management as well as advertising in overall is viewed differently by many people and it has lots of elements that separate one from another. The market management process is a set of processes for creating, communicating, and deliver value to customers and it also examine situations, identify opportunities, make provision for needs and wants, allows the creation of strategies in order to make better choices, achieve the plan, and observe the results (Finch, 2012).
I personally view marketing as a tool used by companies to stimulate the public to purchase their goods, services or products. A good example would be when a food commercial is presented on the television instantly the brain is stimulated in a way that you desire to try that food or visit that restaurant. There are many cases where a false advertisement is presented or exaggerated misleading to the public. Other times there is a limited amount of an item so when the person arrives and don’t get what they needed they will probably end up buying something else equal or higher in value.
According to Houston “In a commercial venture, the ultimate goal is some form of profit achievement…” (Houston, 1986, 82).
Many sales representative use marketing to the fullest advantage and lure people into buying something that they really don’t need. Nevertheless, I don’t believe that all companies are dishonest and only want to lure customers to buy something irrelevant as they use marketing techniques and I do agree that business utilizes marketing to fulfill increase their profit. Possessing the title of a marketer is a role, and marketers, like a lot of other people, have many roles at a times (Houston, 1986).
The ultimate objective of marketing management is the establishment of an exchange that satisfies both the company and the customer.
References:
Finch, J. (2012). Managerial marketing [Electronic version]. Retrieved from https://ashford.content.edu
Houston, F. (1986). The Marketing Concept: What it is and What It Is Not. Journal of Marketing. Vol. 50, 81-87
Respond to…
I believe that marketing was a concept used to get consumers to purchase items. Often, time stuff they may not even need, but the add was appealing.
Our reading, marketing defined as Marketing, is a customer-focused philosophy of business that provides the basis for competition in most business-to-consumer and business-to-business markets ( Finch, 2012). The understanding I currently have of marketing is to reach consumer to give them knowledge of products that are available for their use.
As a business owner customer can does not purchase my items if they are not made aware of the availabilities of the product. Information sharing, in my opinion, is another way to define marketing. Sharing valuable information to give the consumer a choice on what is available and best suit there needs.
Marking management is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably (Finch,2012). Cooperations spend millions of dollars each year to accomplish the task of identifying the needs of customers and then meeting those need with there products. There are several means of doing this, advertisement, web survey, or sending a sample to the home address.
I do not think marketing is meant to target the consumer to spend unwisely, but give them an option.
Finch, J., (2012). Managerial marketing [Electronic version]. Retrieved from https://ashford.content.edu
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