...The definition of marketing has evolved and changed throughout time and will continue to do so, as our environment changes and our knowledge improves. Kotler defines marketing as ‘the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large’ (Kotler, Adam, Denzie, Armstrong 2007 pg 7). This being the most current definition best reflects marketing in today’s environment. Through looking at the 1935 and 1985 AMA’s definitions plus the 2004 article definition it is clear that they are not suitable for today’s time. The American Marketing Association (1935), first defined ‘marketing as the performance of business activities that direct the flow of goods and services from producers to consumers’ (Darroch, Miles, Jardine, Cooke 2004 pg. 31). This first official definition of marketing was seen to be restricted, concentrating on 3 main focal points; ‘the managerial function of coordinating demand and supply, production of goods and services and marketing as a business activity’ (AMA 2004 pg. 31). It had little reflection to either promotions or pricing( Dann 2008 pg. 226). For a Definition to be viable in today’s environment it must include promotions & pricing. The AMA (1985), later modified their definition of marketing stating that it was ‘the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services...
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...Definition of Marketing Paper Written By Cecily Hickman University of Phoenix Marketing 421 – Marketing August 28, 2012 Prof. Catherine Lovett Marketing is an important asset to any business in the fact that it helps a business to be able to remain competitive in the industry and it also, depending on how well the marketing department is for a specific company, helps them to set a precedence of uniqueness and individuality in the industry. In this paper, I plan to define marketing, talk about what I perceive marketing to be, and discuss the importance of marketing to an organization. Marketing is currently defined as “the action of promoting and selling products and services”. I also understand that marketing is responsible for making sure that the specific product that is sold for an organization is set up and presented to the world in the most effective way possible. For example, I work for ADT security services and my company is always marketing our company as being the leader in the industry when it comes to providing security solutions for not just your home, but your business. This is always the first thing that ADT leads with and me being a Sales Representative, this is the first portion of information that we provide to our customers before we even begin to talk about what it is we offer. I have worked for companies...
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...Marketing Unit Assignment 1 1) Definitions of Marketing There are many definitions of Marketing. Each of them includes different aspect of Marketing in a global business environment. To see and highlight the differences of each definition I will write them down in order to see the full picture of what Marketing is all about. • Marketing is the performance of business activities that direct the flow goods and services from organisations to their customers. This is simplest statement which explains Marketing very generally as a “business itself”. The aim of any business organisation is to sell goods to the customers, therefore Marketing is a way to reach those customers. • Marketing involves the business understanding the needs and wants of customers and adapting the operations to deliver the right goods and services more efficiently than its competitors. There is big competition on a global business market, so to be ahead of competitors, the company is spending more money and time in order to find the right way of how to reach the right customers and send them the right information about the product to gain their interest. • Marketing is concerned with the matching of an organisations capabilities with consumers wants. Marketing plays the central place in business process by identifying the needs of consumers and then analysing whether is that particular organisation is able to satisfy these needs or not. • Marketing is the process...
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...Marketing comes in a wide variety of flavors based on audience, media platform and business in today’s evolving and dynamic marketplace. Therefore, it’s no surprise that marketers define what they do differently. Inspired by the31 PR Definitions article, here’s a roundup of seventy-two marketing definitions by experienced practitioners across different specialties. Marketing Definitions To start, here are explanations from the American Marketing Association (AMA), marketing’s professional organization, and Dr. Philip Kotler, the author of business school marketing classics. They’re followed by the other definitions in alphabetical order by author’s last name. 1. According to the American Marketing Association (AMA) Board of Directors, Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 2. Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.” 3. Marketing is the messages and/or actions that cause messages and/or actions. Jay Baer – President...
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...Marketing Definitions Dear readers, since Marketing is a major portion of SBI Exams, so here we are presenting you some quick notes on Marketing. Hope they prove to be useful in the upcoming exam. * Market: It is a physical place or an environment where sellers and buyers meet together to exchange goods and services. * Marketing: It is the sum total of all activities that are related to the free flow of goods from the producer to the customer. Getting the right goods & services, to the right people, at the right place, at the right time and at the right price. * Marketing Management: It is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value. * Market Research: It is a process of collection and analyzing information regarding customer needs and buying habits, the nature of competition in the market, prevailing prices, distribution network, effectiveness of advertising media etc for arriving at a decision. * Relationship Marketing: It is basically building mutually satisfying long term relationships with key parties like customers, suppliers, distributors and other marketing partners in order to earn and retain their business. * Direct Marketing: It consists of a manufacturer selling directly to the final customer. It is also called zero level channel. The major examples are door-to-door sales, telemarketing, Internet selling etc. * Packaging: It...
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...Definition of Marketing MKT/421 Marketing Research Analysis: Kudler Fine Foods Kathy Kudler started Kudler Fine Foods in 1988 because she had a passion for cooking and gourmet foods. Kathy Kudler has three locations, they are in La Jolla, Del Mar, and Encinitas, the stores have all been successful. Kudler Fine Foods stores sell gourmet and quality foods, they sell baked goods, meats, seafood, fresh produce, dairy products, and a variety of fine wines. With their great deal of success they will likely be able to expand to new locations in the future. Kudler Fine Foods mission is to “provide their customers with the finest selected foodstuff, wines, and related needs in an unparalleled consumer environment (University of Phoenix, 2008).” Marketing research will aid in helping her find the right marketing strategy to help the business in the future. Importance of Marketing Research People who start businesses “need information in order to produce products and services that create value in the mind of the customer (Internet Center for Management and Business Administration, 2010).” Market research considers the business, competitors, and customers. Kudler Fine Foods needs to do market research to ensure they have all of the information about their competition and target market. When market research is done correctly, businesses minimize their risk. There is five steps involved in Marketing research. The first step is to define the problem, analyze...
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...Marketing Definition Paper University of Phoenix MKT/421 - Marketing June 6, 2011 Marketing Definition Paper In this paper, I will provide my personal definition of marketing, and definitions from two different sources. Based on these definitions, I will explain the importance of marketing in organizational success, providing at least three examples from the business world. My personal definition of marketing is the promoting of products or services in such a way to make them desirable to the public. Marketing is satisfying the needs of customers, and creating the environment that products or services appear valuable. BusinessDictionary.com defines marketing as the management process in which services and goods progress from innovation to the customer. As a practice, it consists of four elements: selection, identification, and development of a product, price determination, distribution channel selection, and the development and implementation of a promotional strategy (Business Dictionary, 2010). MarketingPower.com defines marketing as the set of principles, and processes for creating, exchanging, communicating, and delivering offerings that create innovation for clients, partners, customers, and society (Marketing Power, 2007). Marketing is very important to business because it contributes greatly to the success of the organization. Distribution and production depend greatly on marketing. Sales and marketing are not the same....
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...Most business experts would consider marketing to be a critical function of its operation. The marketing department helps generate the income that the business relies on for survival and growth. The real challenge lies in generating income profitably, by creating happy customers in a socially ethical manner. For this student, marketing is; taking a product, or line of products and showcasing them in the most positive way possible. Marketing makes the product appealing and indispensible in the eyes of the consumer, and if marketed properly the product, line of products, and hopefully itself will be foremost in the front of the customers’ minds. According to the American Marketing Association, which published a definition of marketing in 1985, “Marketing is the process of planning and executing the conception, promotion, distribution, and pricing of ideas; to satisfy objectives both individually and organizationally by using services and goods to create an exchange,” (Wilson & Gilligan, 2005, p.3). In a relative definition, a professor at Michigan State University, E. Jerome McCarthy, states “Marketing is the performance of certain activities, ones that look to achieve the objective of an organization by predicting customers’ or clients’ requirements and guiding a flow of essential compliance from manufacturer, to clients and customers” (Ries & Trout, 2005, p.2). At its very core, marketing is really about tactics and strategies that can be used...
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...September 6, 2014 Forum 3 Management Setting Concepts, Constructs and Operational Definitions (3.3) Cooper and Schindler (2014), articulate that research requires the exploration of various questions in order to organize, understand, explain and forecast phenomena. These research inquiries must be guided through agreed upon definitions of the questions used to build the research product. These questions contain or use concepts, constructs and definitions (Cooper et al, 2014, p.50). A concept provides a common method for communicating information; it is a group of meanings and characteristics that impact events, objects, conditions, situations and behaviors (Cooper et al, 2014). Constructs are often abstract concepts; in fact concepts and constructs are easily mistaken. A construct is created by pairing less complex, more hardened concepts which provide a defined image or abstract idea enabling the researcher to organize the theory building purpose (Cooper et al, 2014). In research, definitions of concepts must be clearly defined by all parties involved in conducting the research. This will safeguard the integrity of the research. Without this synchronized understanding of definitions the output of the research will be damaged. Definitions in research consist of dictionary and operational. Dictionary definitions include a concept defined with a synonym. The operational definition contains specific criteria measuring and testing which refer to empirical data...
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...The Luxury Evolution Every generation redefines its definition of luxury. How they relate to it or reject it. From the “more generation”, to the X, we have seen everything from conspicuous consumption to less is more. Each generation also redefines its relationship to luxury. The evolution of social, political and economic factors is just a few of the major defining elements in any generation’s approach to luxury products. How a particular group defines luxury is often influenced by the preceding generation’s relationship to it. Is it a coincidence that the lean, Generation-X “less is more” philosophy of the 1990’s immediately followed the Baby Boomer’s conspicuous consumption ideals of the 1980’s. No business lives or dies more by the definition of luxury, than the Cosmetics Industry. From mass to class distribution to direct sell, luxury is the name, of the game. Revolution or evolution, defining luxury becomes the bete noir as the baton is handed to each new generation The Cosmetics Industry lives on its ability to provide luxury goods (No matter the definition) more than any other. It is imperative that we not Only understand how varying market segments define luxury and thereby consume it, but equally important that we can predict how fresh and upcoming markets will define their unique relationship to it. As an industry we must ask ourselves, are we open to deconstructing traditional definitions of what constitutes luxury? What new requisites will tomorrow’s...
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...country at both a paid and volunteer basis for their operations. I have, in fact, been one such volunteer contributor for the in-game content of one of their long-standing game releases which features regular content updates. This should allow me insight to provide greater detail, or at least know whom to contact and ask relevant questions about operations. 2. Review definitions of operations management from your reference text and at least two other print sources, and apply the definition to three different types of organization, e.g., food service, manufacturing, and office workers. Briefly compare operations in these to your selected organization. From Operations Management written by William Stevenson and Mehram Hojati, operations management is defined as “the management of direct resources that are required to produce and deliver value via the organization’s goods and services”. Meanwhile, our course text has Jay Heizer and Barry Render alter that definition into “the set of activities that creates value in the form of goods and services by transforming inputs into outputs.” Neither definition is exclusive to the other, yet the wording of each allows for slightly different applications of the same root term of operations management. Looking towards a more generalized and accepted version, Investopedia provides a both a...
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...it is being loved, the other is being loved because it is such as to be loved.” There were plenty of gods in time of Socrates and Euthyphro but what is liked or disliked by gods was decided by man.When Socrates and Euthyphro encountered in the court, the first thing they asked was "Why he is here?".Socrates was charged by being impious and Euthyphro was charging his father because his father did something impious.In this case, what Socrates did was not believing what all people believe and this action was considered as impiety but, Euthyphro was sending his father to death because his father killed somebody and what Euthyphro was doing is considered as the right thing, even if his father commited crime.In the dialogue we see how the definition of piety and impiety changes from beginning to end of the dialogue.To analyze the question and to understand the difference between god-loved and piety, we should handle the situations from both Socrates' and Euthyphro's point of view. Firstly, Socrates was prosecuted, indicted in his words, because of being impious."An action or a man dear to the gods is...
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...This short paper will cover the trait of independence, and it will answer a few questions posed to look at the trait of independence from a few different angles. These angles include personal definitions of the trait and how a person should be able to demonstrate that trait. The paper will cover how the AICPA looks at Independence, how the State of Texas vies this trait, and a look at a current article showing the impacts of the trait independence. Upon the conclusion of this paper the reader will have a better understanding of how independence in accounting is defined and how to identify it As we see defined in our class text on page 162 is that independence is defined as, "the state of mind that permits the performance of an attest service without being affected by influences that compromise professional judgment, thereby allowing an individual to act with integrity and professional skepticism. To appear to be independent, the CPA should avoid circumstances that might cause an informed third party to reasonably conclude that the integrity, objectivity, or professional skepticism of a firm or member of the audit (attest) engagement team has been compromised." Within the frame work of my own personal definition I define independence as having the ability to have both the personal courage and institutional ability to analyze, state conclusions, and act in the best interests of the public. As pulled from http://www.tsbpa.state.tx.us/firms/alt-business-structure.html on...
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...Logos which he defines as the Being of all beings, One, One which is all, Life.” As previously stated, this is a very cryptic definition that takes much deeper thought than simply reading off the page. Despite being cryptic, this vague definition gives a strong guideline to the basic idea of philosophy while still giving the reader an opportunity to interpret the definition in their own way. This definition shines light on both the basic idea of philosophy while also showing that everyone will interpret philosophy in their own way. By saying that philosophy is the One which is all, it shows that each individual person makes up a greater being which is Life. Each individual person provides their own interpretation based on their own lifestyle and past. Therefore, philosophy is the sum of all lives that can only be defined with the sum of everybody’s views and opinions. With this is mind, philosophy will be ever changing as people grow older and more people are brought into the world. What is most important about this definition is that it is timeless. This definition can be interpreted by anyone from any background and any time in history. So, although the language is very cryptic, it can still be interpreted from anyone and is a solid core principle to think about and to base their own interpretation on. It by no means gives us the full definition of philosophy, but is a great idea to work off of for all...
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...answer. When first working with a client, I ask, “What is your definition of your leadership?” Invariably, a pause follows. The eventual response is sometimes tentative, confused, or incomplete. This happens with new and experienced leaders, in large companies and in start-ups. Only a few people have a solid answer. Not many leaders have a clear, concise, concrete definition of what being a leader means to them. The eminent leadership scholar Ralph Stogdill observed, “There are nearly the same number of leadership definitions as there are people who have attempted to define it.” Here are just a few perspectives: * “The first job of a leader is to define a vision for the organization…the capacity to translate vision into reality.” (Warren Bennis) * “Leadership is a series of behaviors rather than a role for heroes.” (Margaret Wheatley) * “Leadership: the art of getting someone else to do something that you want done because he wants to do it.” (Dwight D. Eisenhower) It is no wonder then, that a ready answer is not on the lips of every leader. But the lack of a compelling, individual definition can be a serious defect. Why Define Your Leadership? When asked, “Why should I have a definition for my leadership?” I answer, “What is the cost of not understanding the foundation of your leadership? What is the cost of not knowing your core? If you do not define your leadership, who will?” A definition provides meaning; meaning reveals purpose; and meaning and purpose...
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