Essay about Marketing Management
Custom Edition for
University of Phoenix
Excerpts taken from:
A Framework for Marketing Management, by Philip Kotler
Copyright © 2001by Prentice-Hall, Inc.
A Pearson Education Company
Upper Saddle River, New Jersey 07458
Marketing Management Millenium Edition, Tenth Edition, by Philip Kotler
Copyright © 2000 by Prentice-Hall, Inc.
All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.
Compilation Copyright © 2002 by Pearson Custom Publishing.
This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the …show more content…
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 endless opportunities. 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 shortest deﬁnitions of marketing is “meeting needs proﬁtably.” Whether the marketer is Procter & Gamble, which notices that people feel overweight and want tasty but less fatty food and invents Olestra; or CarMax, which notes that people want more certainty when they buy a used automobile and invents a new system for selling used cars; or IKEA, which notices that people want good furniture at a substantially lower price and creates knock-down furniture—all illustrate a drive to turn a private or social need into a proﬁtable business opportunity through marketing.
A recent book, Radical Marketing, praises companies such as Harley-Davidson for succeeding by breaking all of the rules of marketing.1 Instead of commissioning expensive marketing research, spending huge sums on advertising, and operating large market-
CHAPTER 1 MARKETING IN THE TWENTY-FIRST CENTURY