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Marketing definitions

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2010


   Marketing
   Definitions
   Review and analysis
   A review and analysis of different marketing definitions.



...
 Marketing Definitions




Marketing
                                                          Each part of the marketing...
 Marketing Definitions



providing a new definition of marketing
management.
                                           ...
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Marketing definitions

  1. 1. 2010 Marketing Definitions Review and analysis A review and analysis of different marketing definitions. By Mohamed Khalifa Ibrahim ESLSCA - MBA - Marketing Management Assignment # 1 IM05 - 7/28/2010
  2. 2.  Marketing Definitions Marketing Each part of the marketing definition defines what marketing is and how it is practiced. To explain the marketing definitions, we need to Definitions examine the following important terms: needs, wants and demands; products and Review and analysis services; value, satisfaction and quality; exchange, transactions and relationships; Introduction and finally markets as shown in figure 1. (3) D efinitions applied to academic disciplines have important practical and symbolic implications. For future and current practitioners, a definition indicates certain training, qualifications, and competencies. A definition also serves to promote the legitimacy of a scholarly community in the eyes of other academics. At the societal level, formal definitions may subtly influence longer-term trends in commerce, public perception, and policy making. (1) Figure 1: shows that these core marketing concepts A number of attempts have been made to are linked, with each concept building on the one categorize definitions of “marketing” before it. † Crosier (1988) for example reviewed over We can distinguish between a social and a than 50 definitions, placing them in to three managerial definition of marketing, the broad categories, which are: social definition shows the role marketing a) Definitions that conceived of marketing plays in society, defined as “It is a societal as a process connecting the producer with process by which individuals and groups its market via a marketing channel. obtain what they need and want through b) Definitions that viewed marketing as a creating, offering and freely exchanging concept or philosophy of business. products and services of value with others”. c) Definitions that viewed marketing as an For managerial definition, marketing have orientation present to some degree in both been mainly described as “the art of selling consumer and producer the phenomenon products”. (4) which makes the process and the concept In this essay, I review & analyze some possible.(2) marketing & marketing management Marketing could be defined as an definitions based on the 4 Ps, segmentation, academic discipline with recognizable targeting and positioning (STP) presented in body of theory in relation to the issues study a chronological manner, in addition to and processes.(2) † Adapted from P. Kotler, et al; Principles of Marketing; 4th European edition 2005.  Page 2
  3. 3.  Marketing Definitions providing a new definition of marketing management. Definitions are like belts. The shorter they are, the more elastic they need to Definitions and Review be. The marketing definition has been —Stephen Toulmin (1961, p. 18) developed over time, nowadays marketing is based around providing Levitt – 1960* defined marketing as “Selling is preoccupied with the seller’s need to convert his continual benefits to the customer, these product into cash; marketing with the idea of benefits will be provided and a satisfying the needs of the consumer by means of transactional exchange will take place. the product and the whole cluster of things There are many definitions of marketing. associated with creating, delivering and finally The better definitions are focused upon consuming it” customer orientation and satisfaction of This definition shows the evolution in this era customer needs. where the marketing concept starts, as it Fred E. Clark – 1925* defined marketing as: talks about satisfying consumer needs “those efforts which effects transfer in the instead of the producer needs, ownership of goods.” segmentation, targeting and positioning This definition illustrates the concept of presented by the word “creating”, also marketing at that time, not involving product, price and place were presented customers needs, value or satisfaction, in by the word “delivering”. addition the term goods and not Rodger – 1971* defined marketing as mentioning services, illustrates the concept “Marketing is the primary management function of this era “production concept”, the which organizes and directs the aggregate of phrase “transfer the ownership” focuses on business activities involved in converting customer distribution excluding the rest of the 4 Ps purchase power for a specific product or service and the segmentation, targeting or into effective demand for specific product or positioning. service and in moving the product or service to AMA** – 1948 defined marketing as final consumer or user so as to achieve company “Marketing is the performance of business set profit or other objectives” activities that direct the flow of goods and services This definition illustrates the management from producers to consumers or user” part of the definition as shown in words This definition focuses on the distribution “management, organizing, and directs”, but the part of marketing and excluded the rest of planning and controlling part of the four P’s, here also there is no management are missing here, needs and mentioning of the segmentation, neither demands of customers are presented in this targeting nor positioning, reflecting the era definition but from the organization of selling concept, but in this definition the prospective, the segmentation, targeting term consumer appeared for the first time. and positioning are mentioned in a general way under the word “aggregate of business * The Blackwell encyclopedic dictionary of marketing; Volume 4 September 1997. ** AMA = American Marketing Association  Page 3
  4. 4.  Marketing Definitions activities”, the McCarthy's 4 Ps not executing the conception, pricing, promotion, and presented except for the distribution part. distribution of ideas, goods and services to create exchanges that satisfy individual and R. Bartles – 1970’s* defined marketing as organizational objectives”. “Marketing is the process whereby society, to supply its consumption needs, evolves distributive In this definition, we can see the systems composed of participants, who, interacting management part of marketing present in under constraints - technical (economic) and the words “planning and executing”, but the ethical (social) - create the transactions or flows controlling, leading and organizing parts of which resolve market separations and result in management are missing from this exchange and consumption.” definition, McCarthy's Four Ps are This definition reckons the economic and presented in a smooth sequence, the social prospective of marketing. The part of concept of satisfaction customers & needs is presented as a whole in “society, to organizational needs is introduced here for supply its consumption needs” assuming that the first time together (Win-Win concept), needs cannot vary from group of people to the exchange process is also presented. another, resulting in excluding the segmentation part and as a sequent Dennis Adcock –1993 **defined marketing targeting and positioning. Transaction and as “The right product, in the right place, at the exchange are presented in a different way right time, at the right price” that they should be, excluding the 4 P’s, in In this definition Adcock focused only on my opinion this is the worst and most McCarthy's Four Ps in general but when difficult to understand definition of digging deep inside it is also considering marketing I’ve seen till now. segmentation, targeting and positioning in Kotler – 1980 **defined marketing as addition to satisfaction of needs in the “Marketing is the human activity directed at phrase “right product & right time”, also satisfying human needs and wants through an creating demand through adding the word exchange process” “the right price”, there is no mentioning to In this definition Kotler generalized the promotion part from the 4 Ps. Here the marketing from management or management part of the definition is also organizational activity to cover all man absent. kind, satisfaction of needs and want is the core focus of this definition, the Kotler et al – 1994 **defined marketing as segmentation, targeting and positioning in "a social and managerial process by which addition of the McCarthy's 4’Ps are individuals and groups obtain what they need and generalized under the word “human activity”, want through creating and exchanging products and value with others” this definition is short easy to understand but too general. This definition included both social and managerial aspects of marketing in AMA – 1985 defined marketing as ”Marketing is the process of planning and addition to the core concepts of: Needs, * The Blackwell encyclopedic dictionary of marketing; Volume 4 September 1997. ** Definitions adapted from www.marketingteacher.com  Page 4
  5. 5.  Marketing Definitions wants and demands with product, value customer relationships in ways that benefit the and satisfaction, plus exchange and organization and its stakeholders.” transaction, and finally market and Here in this definition STP is presented marketing, within this exchange and clearly under the term “creating”, while the transaction, customers will only exchange idea of CRM is presented clearly by the what they value, although the 4P’s and the name, also the 4 Ps are presented under STP are covered by the word “process”, but the words “delivering, and communicating”. it still needs to be more clear. The management part of the definition is Roger Palmer – 2000* defined marketing as presented and not only focused on the “Marketing is essentially about marshalling the marketing department but also it includes resources of an organization so that they meet the the whole organization but it excluded how changing needs of the customer on whom the to? As this definition is missing the organization depends” (planning, organizing, leading and In this definition Palmer stated that the controlling) parts of the management needs of customers are changing, focusing concept. The phrase “set of processes” is on the satisfaction of these needs but he good in that it covers the idea that omitted the 4 Ps and the STP, the marketing is not a single event but rather a management component of the definition combination of many activities. The is also absent. “stakeholder” approach versus the previous Kotler – 2002** defined marketing as focus on individuals and organizations is “Marketing management as the art and science of tricky because it enables the definition to applying core marketing concepts to choose target incorporate a broad number of people or markets and get, keep, and grow customers firms that interact with marketers or their through creating, delivering, and communicating offerings. superior customer value.” AMA – 2007 defined marketing as Here in this definition, the term “art and “Marketing is the activity, set of institutions, and science” is too general, STP is presented processes for creating, communicating, delivering, clearly, while the idea of CRM is presented and exchanging offerings that have value for for the first time by the term “get, keep, and customers, clients, partners, and society at large.” grow customers” alarming marketers that In this definition the marketing is defined as marketing is a continuous process not a an activity, where it surpasses the single transaction, also the 4 Ps are organizational frame, including the role presented under the words “delivering, and marketing plays within society at large, or communicating”. as a broader activity than the previous one AMA – 2004 defined marketing as did, in addition to the phrase “set of “Marketing is an organizational function and a set institutions, and processes” , where it includes of processes for creating, communicating, and the managerial part of the definition. delivering value to customers and for managing This new the term “offering” refers that marketing is not just a commercial activity * Definitions adapted from www.marketingteacher.com ** Kotler & Keller; Marketing management  Page 5
  6. 6.  Marketing Definitions used for products or services, it is also used Customer at the center of business: by governments or NGOs to raise awareness or calling for a cause where P. Drucker* defined marketing as they are not necessarily selling anything. “Marketing is not only much broader than selling, The STP and the 4Ps are presented under it is not a specialized activity at all It encompasses the term “creating, communicating and the entire business. It is the whole business seen delivering”, finally as the previous two from the point of view of the final result, that is, definitions discussed here satisfaction of from the customer's point of view. Concern and customers needs is not presented at all responsibility for marketing must therefore neither mentioning that these needs are permeate all areas of the enterprise.” dynamic and changing constantly. In this definition Peter Drucker focuses mainly on the customer as the center of And here are some common definitions business, it is too general not covering the that are focused on just one specific area: STP or the 4Ps, or the managerial Profitability: component of the definition. Barwell*defined marketing as Competitors surpassing: “This customer focused philosophy is known as the Jobber* defined marketing as 'marketing concept'. The marketing concept is a philosophy, not a system of marketing or an “The achievement of corporate goals through organizational structure. It is founded on the belief meeting and exceeding customer needs better than that profitable sales and satisfactory returns on the competition.” investment can only be achieved by identifying, What is interesting in this definition is that anticipating and satisfying customer needs and Jobber is the only one addressed the issue desires.” of competitors while defining marketing. CIM** defined marketing as “Marketing is the The 4 Ps and the STP also are not management process that identifies, anticipates represented in this definition. and satisfies customer requirements profitably” In this definition (as with Barwell's definition) My definition it addresses not only identifying customer “Marketing is a social and managerial set of needs, but also satisfying them and institutions, and processes for creating, anticipating them in the future. Also both communicating, delivering, and exchanging definitions has an emphasis on profitability, offerings that have value for customers, leading to ignoring that in the 21st century there are a have the right product, in the right place, at the lot of NGOs and governments that uses right time, at the right price, from the customers marketing not aiming to profit from it. The 4 point of view, through identifying, anticipating, Ps and the STP are all not represented in this satisfying and exceeding customers’ dynamic definition. needs and wants continuously better than the competition.” * Definitions adapted from www.marketingteacher.com ** CIM = Chartered Institute of marketing.  Page 6
  7. 7.  Marketing Definitions In my opinion a successful marketer is the one who gain more customers more than competitors, through exceeding customers’ satisfaction, and anticipating future changing needs of those customers. In this definition STP is presented clearly under the term “creating”, while the 4 Ps are presented under the words “delivering, and communicating” , in addition to the phrase “set of institutions, and processes”, where it includes the managerial part of the definition. The term “offering” refers that marketing is not just a commercial activity used for products or services; it is also used by governments or NGOs, the term ”continuously” refers to the building up of CRM. References 1- George M. Zinkhan & Brian C. Williams; The New American Marketing Association Definition of Marketing: An Alternative Assessment; Journal of Public Policy & Marketing; Vol. 26 (2) Fall 2007, 284–288. 2- Barbra R. Lewis & Dale littler; The Blackwell encyclopedic dictionary of marketing; Volume 4 September 1997. 3- P. Kotler, V. Wong, J. Saunders & G. Armstrong; th Principles of Marketing; 4 European edition 2005. 4- P. Kotler & K.L. Keller; Marketing management: th 12 edition 2007  Page 7

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