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Introduction to Marketing

Introduction to Marketing

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Published by Ragulan
Notes on marketing introduction. This document covers definitions,basic marketing concepts,marketing process and a case study.

For more marketing notes visit
http://ragulan.wordpress.com/2009/07/01/marketing-notes/
Notes on marketing introduction. This document covers definitions,basic marketing concepts,marketing process and a case study.

For more marketing notes visit
http://ragulan.wordpress.com/2009/07/01/marketing-notes/

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Published by: Ragulan on Aug 17, 2009
Copyright:Attribution Non-commercial

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04/20/2013

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C
hange is occurring at an accelerating rate; today is not like yesterday, and tomorrow will bedifferent from today. Continuing today’s strategy is risky; so is turning to a new strategy.Therefore, tomorrow’s successful companies will have to heed three certainties:
Global forces will continue to affect everyone’s business and personal life.
Technology will continue to advance and amaze us.
There will be a continuing push toward deregulation of the economic sector.These three developments—globalization, technological advances, and deregulation spell endlessopportunities. But what is marketing and what does it have to do with these issues?Marketing deals with identifying and meeting human and social needs. One of the shortestdefinitions of marketing is “meeting needs profitably.”
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Financial success of a firm often depends on marketing ability. Functions such as operations,accounting , finance and other business functions will not really matter if there isn’t sufficientdemand for product and services. So the company can make profit.Apart from that
Sustained and steady growth
Customer loyalty retention
Building brand & loyal customerMarketing is tricky, and the business have to rethink their business model when the time change.
 
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American Marketing Association
“Marketing is an organizational function and a set of processes for creating , communicating anddelivering value to customers and for managing customer relationships in ways that benefits theorganizations and stakeholders.Marketing social definition—” Marketing is a societal process by which individuals and groupsobtain what they need and want through creating, offering and freely exchanging products andservices value with others. Some think marketing as a “art of selling” , but if just a part of marketing . Understanding customers and developing products are always better.EgApple iPod Nano digital music playersSony play stationAs a managerial definition, marketing has often been described as “the art of selling products.”But Peter Drucker, a leading management theorist, says that “the aim of marketing is to makeselling more than expected. The aim of marketing is to know and understand the customer sowell that the product or service fits him and sells itself. Ideally, marketing should result in acustomer who is ready to buy.
Kotler
“Marketing s the social process by which individuals and groups obtain what through creatingand exchanging products and value with others.
Chartered Institute of Marketing
Marketing is the management process that identifies anticipate and satisfies customerrequirements profitably.
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