Marketing Essay

4004 Words May 25th, 2011 17 Pages
Marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."[1] Marketing is a product or service selling related overall activities. It generates the strategy that underlies sales techniques, business communication, and business developments.[2] It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.[2]

Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major
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Seen from a systems point of view, sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions,[5] whose methods can be improved using a variety of relatively new approaches."

The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirements profitably."[6] A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.[7] In this context, marketing is defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage."[7]

Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and

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