Marketing is the study and management of exchange relationships marketing is used to create, keep and satisfy the customerwith the customer as the focus of its activities, it can be concluded that marketing is one of the premier components of business management - the other being innovation. With increase in the number of users, taking care of the customer needs as well as the customer needs, as well as instituting the various customer protection and advisory measures will instill the confidence in the customer leading to trust building and increased customer satisfaction. The role of marketing research “marketing research is the systematic design, collection, analysis and reporting of data and findings to a specific marketing situation facing the company” p kotler(2000,103) “marketing research provides a useful link between the supplier and the customer by keeping up to date with customer needs and wants. Since as we knew marketing came to people’s life in the 1950s and 1960swith the rapid improvement in marketing, there is an strong argument, which is marketing shapes the needs and wants or marketing reflects the needs and wants of customers. The marketing process is the method of evaluating openings, choosing the proposed customer, addressing the consumer needs and wants, describing the price, product, place and promotion and addressing the marketing campaign.
A business needs steel, plastic, gasoline, and computers in order to operate it must have a constant supply of electricity, security for buildings and equipment, and accountants who maintain records and file tax returns. Does marketing create or satisfy needs essay sample marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing is an ongoing activity that does not stop, continuously obtaining needs that define a state of felt deprivation and wants that defines what is needit involves transaction in terms price, place, product and promotion at the end of this exchange, the most important result most desired is customer satisfaction. Companies that adopt mass marketing take an undifferentiated approach that assume that all customers in the market have similar need and wants that can be reasonably satisfied with a single marketing program.
Published: mon, 5 dec 2016 marketing – according to philip kotler marketing as ‘satisfying needs and wants through an exchange process’ this means that marketing means selling of goods and services to consumer and satisfying their needs. Essay on marketing: meaning, definition and concept everybody lives by selling some products, services or ideas generally, marketing is considered as selling and promotion however, making a sale, ie, selling is the old sense of marketing in its new sense, marketing is satisfying customer needs. According to william stanton, ‘marketing is a total system of interacting business activities designed to plan, price, promote and distribute want-satisfying products and services to the present potential customers. A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products.
Marketing has often been defined in terms of satisfying customers needs and wants critics however maintain that marketing goes beyond that and creates needs and wants that did not exist before, according to these critics, marketers encourage consumers to spend more money than they should on goods. Thus marketing can be defined as- “the process of ascertaining consumer needs, converting them into a product or service, and then moving the product or service to the final consumer or user to satisfy such needs and wants of specific customer segment or segments with emphasis on profitability ensuring the optimum use of the resources. Marketing concept and philosophy state that the organization should strive to satisfy its customers' wants and needs while meeting the organization's goals the best way to meet the organization's goals is also by meeting customer needs and wants.
The difference between customer needs and wants jorge in entrepreneurship , innovation , marketing understanding the difference between a customer’s wants and needs is a major key to succeeding in business. A need becomes a want when directed to certain identifiable objects that will satisfy the need (p12) the objectives of marketing are to identify the needs and wants of a target market and then create or promote a product in turn creating a demand for the product. Honest customer research and analysis is what any business needs for it to compete in today’s market it's vital to try to understand your target market’s array of choices. Marketing must both attract new customers and build relationships with current customers practically most people think of marketing as selling and/or advertising its focus is really on satisfying customer needs.
Want to make your customers feel like a happy child does on christmas morning check out the lessons i learnt: lesson #1 ask your customers for what they want. Developed by dr maxwell winchester senior lecturer, victoria university, melbourne australia introduction marketing has often been defined by marketing academics and practitioners in terms of satisfying customers’ needs and wants (eg, kotler, burton, deans, brown & armstrong, 2013. Today, marketing must be understood not in the old sense of making a sale—“telling and selling”—but in the new sense of satisfying customer needs if the marketer understands consumer needs develop products and services that provide superiorshow more content. In marketing, satisfying customer needs and wants is the easiest way to increase profits and sell more products and services the definition of desire in marketing is finding what the consumer is.