Marketing Reflection Paper
Introduction:
Nowadays marketing take place a huge role in the competitive business world. The main objective of marketing is to increase company's sales. So if the company's sales is increased, there is a great chance to maximize company's profit. In other word marketing is helping the company to maximize their profit.
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. [Solomon et al (2011),p.7]
The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The term developed from an original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches." [Retrieved from http://en.wikipedia.org/wiki/Marketing#Further_definitions]
References:
1. Solomon, Hughes, Chitty, Fripp, Marshall, Stuart (2011) "Marketing 2" 2nd ed. Pearson Education Australia, Sydney, NSW 2086. 2. http://en.wikipedia.org/wiki/Marketing#Further_definitions
Chapter 1: Welcome to the World of Marketing: Creating and Delivering Value
The best way to present a good or service for consumers' consideration, marketers have to make many decision and that's why they need many tools, this strategic toolbox is called the marketing mix. The marketing mix is a combination of the four Ps- product, price, promotion and place. [Solomon et al (2011),p.21 & 22] In my own experience as a consumer, every company must need to use the marketing mix. For example, if we think about Vodafone
Nowadays marketing take place a huge role in the competitive business world. The main objective of marketing is to increase company's sales. So if the company's sales is increased, there is a great chance to maximize company's profit. In other word marketing is helping the company to maximize their profit.
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. [Solomon et al (2011),p.7]
The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. The term developed from an original meaning which referred literally to going to a market to buy or sell goods or services. Seen from a systems point of view, sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions, whose methods can be improved using a variety of relatively new approaches." [Retrieved from http://en.wikipedia.org/wiki/Marketing#Further_definitions]
References:
1. Solomon, Hughes, Chitty, Fripp, Marshall, Stuart (2011) "Marketing 2" 2nd ed. Pearson Education Australia, Sydney, NSW 2086. 2. http://en.wikipedia.org/wiki/Marketing#Further_definitions
Chapter 1: Welcome to the World of Marketing: Creating and Delivering Value
The best way to present a good or service for consumers' consideration, marketers have to make many decision and that's why they need many tools, this strategic toolbox is called the marketing mix. The marketing mix is a combination of the four Ps- product, price, promotion and place. [Solomon et al (2011),p.21 & 22] In my own experience as a consumer, every company must need to use the marketing mix. For example, if we think about Vodafone
References: Text Book: 1. Solomon, Hughes, Chitty, Fripp, Marshall, Stuart (2011) "Marketing 2" 2nd ed. Pearson Education Australia, Sydney, NSW 2086.