What is marketing? Almost every marketing textbook has a different definition of the term marketing. The American Marketing crosstie (AMA) uses the following: The process of planning and executing the conception, pricing, promotion, and distribution of ideas, right-hand(a)s, and work to create exchanges that satisfy individual and organizational objectives. From this definition, we see that:
Marketing involves an ongoing process. The environment is dynamic. This means that the market tends to change--what customers want today is non necessarily what they want tomorrow. For example, sales of beef are declining in the United States because consumers have become health oriented. Similarly, Tupperware parties are less(prenominal) popular today than they once were because there are few housewives who do not work outside the home.
This process involves two planning and implementing (executing) the plan.
Some of the main issues involved include:
Marketers help digit products, finding out what customers want and what can practically be made available given technology and price constraints.
Marketers break down products--there must be virtually efficient way to pull the products from the factory to the end-consumer.
Marketers also advertize products, and this is perhaps what we tend to believe of first when we think of marketing. Promotion involves advertising--and much more. Other tools to promote products include trade promotion (store sales, coupons, and rebates), obtaining booming and visible shelf-space, and obtaining favorable press coverage.
Marketers also price products to move them.
We know from political economy that, in most cases, sales correlate negatively with price--the higher(prenominal) the price, the lower the quantity demanded. In some cases, however, price whitethorn provide the customer with a signal of quality. Thus, the marketer require to price the product to (1) maximize profit and (2) communicate a desired image of the product.
Marketing is applicable to services and ideas as soundly as to...
I think your title is Background to marketing. Needs some minor editing and grammar work. Overall, not bad. Good flow and good references.
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