The
American Marketing Association suggests that Marketing
is "the process of planning and executing the
pricing, promotion, and distribution of goods, ideas,
and services to create exchanges that satisfy individual
and organizational goals." Another definition,
perhaps simpler and more universal, is the process
of moving people closer to making a decision to purchase,
use, follow, refer, upload, download, obey, reject,
conform, become complacent to another person's, society's
or organization's value. Simply, if it doesn't facilitate
a "sale" then it's not marketing. Prior
to the advent of market research, most companies were
product-focused, employing teams of salespeople to
push their products into or onto the market, regardless
of market desire. A market-focused, or customer-focused,
organization instead first determines what its potential
customers desire, and then builds the product or service.
Marketing theory and practice is justified on the
belief that customers use a product/service because
they have a need, or because a product/service has
a perceived benefit.
Two major aspects of marketing are the recruitment
of new customers (acquisition) and the retention and
expansion of relationships with existing customers
(base management). |
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