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The main focal point of marketing isn't ideas or products but targeting customers who want or need the product.
Marketing is a business function that primarily deals the most with customers, since customers are an essential element of any marketing system.
Kotler et al (2008) Marketing is not only about advertising and selling of products as everyone perceivers, it is more complex with various tasks that commences long before a business has a product. Marketing involves researching profitable environment for the product which continues through out the product life. The main criterion of marketing is to draw new customers by exhibiting beneficial values of the product and to maintain and grow profitable clientele relationship through satisfaction of customer needs.
When people buy products they in fact buy the concept of the product satisfying their need and wants, e.g. A overweight person purchases a sliming diet meal because of its concept, which will help satisfy the needs and wants to become thin and have a happy successful life.
When a marketer understands the customer and is able to develop a product that matches the needs and wants coupled with great value and reasonable price then through the channel of effective promotion and distribution the product sells of easily creating great demand, there by selling itself.
Hence definitions: ...
The marketing process basically understands target customers, creating value products for its customers maintaining a strong customer relationship and in turn the business profits through it valued customer.
Marketing can also be defined on basis of it practice such as business to business ( b2b ) in this instance products are traded between similar organization and the other aspect (b2c) business to customer which is trade between dissimilar organizations , main purpose of this marketing is to satisfy the needs and wants of customer. C2c is customer to customer marketing which started with the advent of internet... eg ebay, amazon and other auction sities.
As marketing mainly indentifies the customers' needs and wants it is important to understand what they mean example: need of customer would be food clothing housing and wants
Marketing to offer serve memorable experience and customer satisfaction trough its products...
According to Morrison (2009) marketing mainly about fulfilling customers needs and wants. Morrison explains needs as difference between what a buyers has and what he wishes to have, and want is those needs which the buyer is aware of. Marketing of products is a continuous process by the management and never a one time assessment. For effective marketing, marketing research is of importance in order to foresee and recognize the customers' needs and wants.
Explain marketing as an ongoing organized process that includes planning researching, implementation, controlling and evaluations of the action by the business to satisfy customer needs and wants, and that of the business to make profits. For successful marketing efforts of all departments in an organization is necessary.
Marketing evolved through production orientation era, sales orientation era, marketing orientation era, societal -marketing orientation era, online marketing era.
Marketing is also about swot analysis in order to ascertain strength weakness of a business against that of a competitor, which is of importance in order to have a steady market capture.
Relationship marketing is of vital importance in the long term than just a one time sale. Maintaining a good relation with buyers and other corporate will ensure profitable business. Example a hotel offering a great value for money deal to the buyer and offering memorable experience and trying to build on the relationship during the stay , will guarantee that the guest will return in the future. Bowie,D ( 2004) explains marketing in a different persective in order for business to stay in a competitive market , ensure profitability through repeat business and attract new buyers companies strive hard towards delighting the customer.
Customer perception through surveys plays an important role in marketing as this gives a change to the establishment to understand the expectations of the customer. This also enables the establishment to learn on mistakes and maintain or enhance best marketing activities
When it comes to satisfying guest needs and wants Explains about Market segmentation which plays a role in marketing. Since all customers are not alike it is profitable for the industry to target its customers and then market the product which caters to those target customers. example: the service industry will identify the highest return market segment and then market products, (packages for honeymooners). It can also be called as rifle approach, targeting with clear aim compared to shotgun approach, where desired target might be hit but with having wasted a lot of revenue.
The ideology of marketing in any business is customer comes first , on this basis it is right to say that the primary goal of service and non service industry is to satify the needs of customer, through the value and exchange process. value in terms of price to some buyers or value in terms of exchange of experience and meeting of expectations by the products performance delivered by the organization fro the price paid by the buyer. every business marketing acknowledges that it is the responsibility of every department in the organization to work towards satifying customer needs and wants, this acceptance had given rise to marketing-company orientation era way back in the 1960's.in order for this ideology of customer orientation to be maintained, the resposibilty lies in the organizations' management's commitment and other department for working towards it.
Marketing can be described as definition:
Marketing concepts :
Morrison and Bowie put forth a marketing concept by summarizing the various marketing definitions
Industries with market orientation accept the marketing concept and strive towards fulfilling buyer needs and wants as this is the main philosophy with the main purpose of marketing to be managing demand. . Industries have now understood the importance of long term customer raltionship as this turns to be mutually beneficial. The market segmentation . the buyer and the industry share an exchange of value. The service supplier offers the customer a delightiful experience and service which the customer finds valuabe for a cost which the buyer pays to the supplier thus satisfying the industrys finacial goal. Marketing is an ongoing management process based on sequential steps that ensures the industries success in the ever-changing business environment. Inorder to maintain a products customer value and customer satisfaction marketers exploit marketing tools that give a report on how buyer perceiver a product.