The overlying concept of markets finally brings us to the theory of marketing. Marketing means all human activities that take place in regards to open markets. Marketing means working with markets to actualize potential exchanges for the purpose of satisfying human needs and wants. Our definition of marketing as human activity is directed at satisfying needs and wants through exchange processes.
Exchange processes involve work. Sellers have to search for buyers, identify their needs, design appropriate products, promote them, store and transport them; negotiate prices, and so on. Such activities as product development, search, communicating, distribution, pricing, and service constitute core marketing activities.
Although we normally think of marketing as being carried on by seller, buyers also carry on marketing activities. Consumers do "marketing" when they search for the goods they need at prices they can afford. A purchasing agent who needs a commodity in short supply tracks down sellers and offers attractive terms. A seller's market is one in which sellers have more power and buyers have to be the more active "marketers." In a buyer's market, buyers have more power and sellers have to be more active "marketers."
During the early 1950s the supply of goods began to outpace the demand, and marketing became identified with sellers trying to find buyers. Lets examine the marketing problems of sellers in a buyer's market.
Those who engage in the exchange process learn how to do it better over a period of time. In particular, sellers learn how to professionalize their marketing management. We define marketing as follows: Marketing management is the analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives.
The prevailing image of a marketing manager is that of someone whose task consists primarily of attracting customers to meet the company's current output. However, this is a limited a view of the range of tasks carried out by marketing managers. Marketing managers are concerned not only with creating and increasing demand, but also with adjusting and periodically reducing it. Marketing management looks to influence the level, timing, and character of demand in a way that will facilitate the organization achieve its objectives. Simply put, marketing management is demand management.
The organizations senior management forms an idea of a desired level of transactions within a primary market. At any point in time, the realized demand level may be below, equal to, or above the desired demand level. That is, there may be no demand, little demand, adequate demand, or overwhelming demand, and marketing management has to adjust to these different challenges.
Who is a marketing manager? We refer to company personnel who are involved in marketing analysis, planning, implimentation, or control functions. This group includes sales managers and sales peoples, advertising executives, sales promotion specialists, marketing researchers, product managers, and pricing specialists.
Exchange processes involve work. Sellers have to search for buyers, identify their needs, design appropriate products, promote them, store and transport them; negotiate prices, and so on. Such activities as product development, search, communicating, distribution, pricing, and service constitute core marketing activities.
Although we normally think of marketing as being carried on by seller, buyers also carry on marketing activities. Consumers do "marketing" when they search for the goods they need at prices they can afford. A purchasing agent who needs a commodity in short supply tracks down sellers and offers attractive terms. A seller's market is one in which sellers have more power and buyers have to be the more active "marketers." In a buyer's market, buyers have more power and sellers have to be more active "marketers."
During the early 1950s the supply of goods began to outpace the demand, and marketing became identified with sellers trying to find buyers. Lets examine the marketing problems of sellers in a buyer's market.
Those who engage in the exchange process learn how to do it better over a period of time. In particular, sellers learn how to professionalize their marketing management. We define marketing as follows: Marketing management is the analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives.
The prevailing image of a marketing manager is that of someone whose task consists primarily of attracting customers to meet the company's current output. However, this is a limited a view of the range of tasks carried out by marketing managers. Marketing managers are concerned not only with creating and increasing demand, but also with adjusting and periodically reducing it. Marketing management looks to influence the level, timing, and character of demand in a way that will facilitate the organization achieve its objectives. Simply put, marketing management is demand management.
The organizations senior management forms an idea of a desired level of transactions within a primary market. At any point in time, the realized demand level may be below, equal to, or above the desired demand level. That is, there may be no demand, little demand, adequate demand, or overwhelming demand, and marketing management has to adjust to these different challenges.
Who is a marketing manager? We refer to company personnel who are involved in marketing analysis, planning, implimentation, or control functions. This group includes sales managers and sales peoples, advertising executives, sales promotion specialists, marketing researchers, product managers, and pricing specialists.
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