marketing definitions

eldrige 1970

combination of activities designed to produce profit

AMA

American Marketing Association

American Marketing Association

set of institutions and processes for creating, communicating, delivering, exchanging offerings

Kotler 2003

societal process by which individuals and groups obtain what they need

Marketing Utilities

Form, Place, Time, Possession, Information

form Utility

conversion of raw materials to products that suit preferences of consumers

task utility

offering services consumers may not like to do themselves

place utility

availability of the product of service at accessible locations

time utility

availing of products or services on time

possession utility

ensuring consumers have full possession of the product at the right time

information utility

information provided by companies

exchange

process of offering something and being offered something in return

aspects of marketing organization

consumer content, company capabilities, communication, competition, cross functional contact, community content

consumer content

wide array of choices in choosing products

company capabilities

strengthening of capabilities

communication

positive building of lost-lasting relationship

competition

knowing the environment, recognizing competitor’s strength and weaknesses

cross functional contact

assistance of other departments, marketing organization as a whole

community content

updated with local, international, and community news

marketing process 1

understanding the marketplace

2

design a customer driven marketing strategy

3

construct an integrated marketing program

4

build profitable relationships

5

capture from customers to create profits and equity

marketing concepts and principles also known as

marketing management philosophies

marketing concepts and principles

guides business organizations in developing strategies