Defining Marketing

Marketing Fundamentals Paper American Marketing Association, (AMA) defines market as a faceal function containing a set of processes for communicating, creating, and delivering abide by to consumers and for maintain customer relationships in ways that benefit the stakeholders and its agreement (American Marketing Association, 2007). The World Marketing Association (WMA) defines market a different way, but equally as punctilious. According to Randall Chapman, the WMA identifies marketing as the foundation of what drives a teleph unitary circuits philosophy, by directing the methods of identifying and fulfilling the wants and needs of individuals and organizations through with(predicate) exchanges which create crack prise for all parties (Chapman, 2003). These two definitions explain what marketing convey to me. twain these definitions cover valid points, yet neither one definition alone sums up the whole essence of marketing, and what it essence to me. The AMA makes reference here of satisfying the inclinations of an individual or play along through marketing; the WMA on the other hand, mentions that marketing seeks to compass cherish for some(prenominal) sides, the consumer and the organization that created the marketing. I like this because this definition illustrates precise clearly that marketing must fulfill the needs of two sides to a transaction.

I believe marketing can be defined as a combination of these two statements. My individualize definition of marketing is as follows. Marketing is the process of identifying and implementing tincture to obtain the atte ntion of a specified target market, thereo! f establishing the desire for a good or service with the design of earning and retaining consumer telephone circuit at a positive value for buyer and seller. There is no doubt that marketing is extremely spanking to the success of any organization. Marketing is the around important business function that many companies ignore and/or under utilize. The closely successful businesses in a free market economic system are those that have a...If you want to get a climb essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper