The Importance Of Marketing In Business

Marketing is regarded as a core dimension for companies to deeply understand customers and deliver satisfaction. Marketing is defined by the American Marketing Association as “the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational objectives” (Gundlach,2007). However, in 2013 the American Marketing Association redefined that “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” (The American Marketing Association, 2013). Hence, marketing may not seem so simple, otherwise, …show more content…
In Marketing Myopia, Levitt demonstrates that the majority corporations may think marketing is just for increasing the sale of goods and hence making a profit (Levitt, 1960). Often, so long a company is the profitable market leader, it will be considered that they are marketing successfully. Yet, they do not have a clear strategic position. They are supposed to be comprehensive to establish an operational goal. Levitt states a real example: that the failure of the railroads industry was because they oriented themselves to focus on the railroad business rather than the transportation business. Their troubles were caused by their focus on the needs of passengers instead of the transportation business (Levitt, 1960). Levitt (1960) states that cars, airplanes, and other transport industries made them lose their business. They needed to not only consider the passengers, but also the transportation business, as their position goals (ibid). In 2008, Marketing Myopia was republished by the Harvard Business Press that there are more up-to-date examples to illustrate the same ideas that a rang of companies more likely to make these mistakes about focusing on marketing instead of selling(Levitt,2008). These marketing problems are unlikely to be solved even via a half century. Thus, these situations may help to support the statement that marketing is not …show more content…
Firstly, Union Café is running by University of St Andrews Students’ Association, so the main target will be students. St Andrews union will be their sponsor that they can provide low-cost products for students. In addition, various society events will be hold in Student Union. It may boost students’ consumption that they need some food or drinks to organize an event. Furthermore, St Andrews shop is a representative place where can attract a lot of students or tourists to buy souvenirs. Meanwhile,