What is Marketing?

Some basic definitions of marketing and the marketing

concept
There are many definitions of marketing. The better definitions are focused upon
customer orientation and satisfaction of customer needs.

Marketing is the social process by which individuals and groups obtain what they need and want
through creating and exchanging products and value with others.

Kotler.

Marketing is the management process that identifies, anticipates and satisfies customer
requirements profitably.

The Chartered Institute of Marketing (CIM).

The CIM definition (in common with Barwell's definition of the marketing concept) looks not
only at identifying customer needs, but also satisfying them (short-term) and anticipating them in
the future (long-term retention).

The right product, in the right place, at the right time, at the right price

Adcock.

This is a snappy and realistic definition that uses McCarthy's Four Ps.

Marketing is essentially about marshalling the resources of an organization so that they meet the
changing needs of the customer on whom the organization depends.

Palmer.

This is a more recent and very realistic definition that looks at matching capabilities with needs.

Marketing is the process whereby society, to supply its consumption needs, evolves distributive
systems composed of participants, who, interacting under constraints - technical (economic) and
ethical (social) - create the transactions or flows which resolve market separations and result in
exchange and consumption.

Bartles.

This definition considers the economic and social aspects of marketing.

The Philosophy Marketing and the Marketing Concept.
The marketing concept is a philosophy. It makes the customer, and the satisfaction of his or her
needs, the focal point of all business activities. It is driven by senior managers, passionate about
delighting their customers.

Marketing is not only much broader than selling, it is not a specialized activity at all It
encompasses the entire business. It is the whole business seen from the point of view of the final
result, that is, from the customer's point of view. Concern and responsibility for marketing must
therefore permeate all areas of the enterprise.

Drucker.

This customer focused philosophy is known as the 'marketing concept'. The marketing concept is
a philosophy, not a system of marketing or an organizational structure. It is founded on the belief
that profitable sales and satisfactory returns on investment can only be achieved by identifying,
anticipating and satisfying customer needs and desires.

Barwell.

The achievement of corporate goals through meeting and exceeding customer needs better than
the competition.

Jobber.

Implementation of the marketing concept [in the 1990's] requires attention to three basic
elements of the marketing concept. These are: Customer orientation; An organization to
implement a customer orientation; Long-range customer and societal welfare.

Cohen.

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The term marketing has changed and evolved over a period of time, today marketing is based
around providing continual benefits to the customer, these benefits will be provided and a
transactional exchange will take place.

The Chartered Institute of Marketing define marketing as 'The management process responsible
for identifying , anticipating and satisfying customer requirements profitably'

If we look at this definition in more detail Marketing is a management responsibility and should
not be solely left to junior members of staff. Marketing requires co-ordination, planning,
implementation of campaigns and a competent manager(s) with the appropriate skills to ensure
success.

Marketing objectives, goals and targets have to be monitored and met, competitor strategies
analysed, anticipated and exceeded. Through effective use of market and marketing research an
organisation should be able to identify the needs and wants of the customer and try to delivers
benefits that will enhance or add to the customers lifestyle, while at the same time ensuring that
the satisfaction of these needs results in a healthy turnover for the organisation.

Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process'

Within this exchange transaction customers will only exchange what they value (money) if they
feel that their needs are being fully satisfied, clearly the greater the benefit provided the higher
transactional value an organisation can charge.

Marketing is the process of performing market research, selling products and/or services to
customers and promoting them via advertising to further enhance sales.[1] 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, to satisfy the customer, and to keep the customer.
With the customer as the focus of its activities, it can be concluded that marketing management
is one of the major components of business management. Marketing evolved to meet the stasis in
developing new markets caused by mature markets and overcapacities in the last 2-3 centuries.
[citation needed]
The adoption of marketing strategies requires businesses to shift their focus from
production to the perceived needs and wants of their customers as the means of staying
profitable.[citation needed]

The term marketing concept holds that achieving organizational goals depends on knowing the
needs and wants of target markets and delivering the desired satisfactions.[3] It proposes that in
order to satisfy its organizational objectives, an organization should anticipate the needs and
wants of consumers and satisfy these more effectively than competitors