Explain marketing and the managerial process
Using the three definitions provided, come up with your own definition of “Marketing”. Make sure that the definition is unique.
Definitions of Marketing:
1) The managerial process of identifying customer requirements and satisfying them by providing customers with appropriate products in order to achieve the organization’s objectives.
2) Promoting goods and services to consumers. In the modern business world, marketing plays a prominent role in determining company policy, influencing product development, pricing, methods of distribution, advertising, and promotion techniques.
3) Marketing is managing profitable customer relationships. The twofold goal of marketing is to attract new customers by promising superior value to keep and grow current customers by delivering satisfaction.
Select a product or service from the list below and research a company that manufactures this type of product or provides the service. Based on your definition, analyze whether the company should be considered good marketers or not.
– Chocolate Bar
– Laundry Detergent
– Organic Food Product
– New “Green Product”
– Traveling Dog Groomer, Car Repair, etc.