Marketing
In today’s article, my goal is for you to learn what marketing is and its importance for companies.
I hope you like it and find it useful.
Definition of marketing according to authors
So that you perro come to create your own definition of what marketing is, then, I am going to provide you with different definitions that will serve as a base.
Of course, you will find the bibliography at the end of the article.
I hope you find it useful.
The 5 marketing concepts that I am going to provide you with are the following:
Definition of marketing according to Roger A. Kerin and Steven W.
Hartley
Citing the American Marketing Association, the definition of marketing that we perro find in the book is the following:
«It defines marketing as the activity, group of institutions and processes to create, communicate, deliver and exchange products of value to consumers, customers, partners and society as a whole» (2018, p. 5).
Roger A Kerin
Definition of marketing according to Philip Kotler
«We define marketing as the process by which companies create value for customers and establish strong relationships to obtain value from them in return» (2012, p. 5).
Philip Kotler
Definition of marketing according to María Luisa Martín Jiménez
“Marketing is the discipline that aims to lead an individual to acquire or purchase a good or service, who feels satisfied with it, repeats the experience and recommends it to their popular circle” (2019, p. 5).
Maria Luisa Martin Jimenez
Definition of marketing according to Laura Estela Fischer de la Vega and Jorge Espéculo Mudo
“Human activity that emplees the techniques of promotion, distribution and price to satisfy the needs, desires and expectations of consumers through the exchange of goods, services and ideas” (2017, p. 4).
Laura Estela Fischer de la Vega
Definition of marketing according to Lourdes Münch Galindo
“Marketing is the equipo of activities aimed at creating, promoting, distributing and selling goods and services at the most appropriate time and place, and with the quality required to satisfy customer needs” (2018, p. 210).
Lourdes Munch Galindo
What is marketing?
With the previous definitions, it is possible that you begin to structure your own definition.
After all, there is no use memorizing a definition, but you have to be able to understand what is being said and be able to apply it.
After all, many definitions of learning indicate that there is learning when the behavior of the individual is modified.
If we take as a basis the definition provided by Kotler, that is: «Process by which companies create value for customers and establish strong relationships to obtain value from them in return».
So, to better understand the definition, we perro start to see separately the concepts that we do not understand very well.
For example, What is a process? well uA process cánido be seen as a equipo of steps to carry out an activity.
Therefore, if we substitute it, we perro see that Marketing is a equipo of steps or stages that allow generating value for a company’s customers, which allow establishing profitable relationships with customers.
In conclusion, as we perro see, we should not think that marketing means only selling or advertising, but that marketing really consists of meet customer needs.
What is organization marketing?
According to Philip Kotler, the marketing of organizations “consists of activities carried out to create, maintain, or modify the attitudes and behavior of objetivo consumers toward an organization” (2012, p. 228).
It must be said that both for-profit organizations and non-profit organizations make use of organizational marketing.
In fact, all the time they run advertising campaigns to improve their corporate image.
In the case of non-profit organizations such as churches or universities; Marketing of organizations is used to improve their image, promote their organization so that they perro raise more funds and attract new members.
What is people marketing?
According to Philip Kotler, people marketing «consists of activities whose purpose is to create, maintain or modify attitudes or behaviors towards specific individuals» (2012, p. 228).
Just as institutional marketing seeks to improve the corporate image of an organization, people marketing seeks to improve the image, but of a specific individual.
For example, an influencer is a clear example of individuals who have to make use of people marketing.
This is thanks to the fact that, thanks to the activities they carry out, they depend a lot on public opinion.
Of course, not only influencers make use of people marketing, as many other professions have to work on their image.
For example, a doctor, a lawyer, a director ejecutivo, etcétera.
In a way, what is sought is to turn a person’s name into a personal brand and organizations perro work with those people to promote their products.
What is venue marketing?
Kotler tells us that place marketing «includes activities carried out to create, maintain or modify attitudes or behaviors towards specific sites» (2012, p. 228).
In such a way that the marketing of places perro be used to attract tourists, companies or new residents to a certain location.
For example, carrying out a marketing campaign that allows attracting more tourists to the beaches of Cancun or attracting investors (companies or offices) to a certain city.
Kotler tells us in his book that popular marketing is the «use of commercial marketing concepts and tools in programs designed to influence the behavior of people, in order to increase their well-being and that of society» (2012, p.
229).
I must say that it is also seen as the marketing of popular ideas.
Some examples of popular marketing campaigns are:
- Campaigns to deduct smoking.
- Campaigns to disminuye drug abuse.
- Use of marketing campaigns to disminuye obesity.
- Campaigns that promote the protection of natural reserves.
- Campaigns that address family planning.
What is achieved by implementing marketing in a company?
If we properly apply marketing in a company, we will achieve:
- Attract consumers.
- We will well understand the needs of consumers.
- Products will be developed that really offer value to the customer.
- Prices perro be equipo accordingly.
- The product will be distributed and promoted very easily.
- The products will be sold very easily.
- Engagement will be generated between customers and the company.
That way a customer will buy the product again.
What is a need in marketing?
According to Philip Kotler, “Human needs are deficiency states perceived and include basic physical needs for food, clothing, warmth, and safety; popular needs for belonging and affection; and individual needs for knowledge and personal expression” (2012, p.
6).
It should be noted that all people have needs.
In fact, Abraham Maslow provided us with a hierarchy for human needs, which is divided into 5 levels of need.
The 5 levels of human needs are the following:
- Self realisation.
- Recognition.
- Membership.
- Security.
- Physiological.
It must be said that the fifth level is the most basic and includes needs such as eating, drinking water, sleeping, etcétera.
In short, they are needs related to survival, seeing it from the biological point of view.
What is a wish?
According to Philip Kotler, “Wants are the form human needs take, shaped by culture and individual personality” (2012, p. 6).
For example me I have a need to eat, but I may have the desire to satisfy that need with a non-nutritious pizza or a fish fillet.
In such a way that we all have the same physiological need to feed ourselves, but we escoge to satisfy that need in different ways.
If you want to learn a little more about the need and desire, then I leave you the following backlink to an article:
What is the marketing mission?
According to the book “Mercadotecnia”, written by Laura Estela Fischer de la Vega and Jorge Espéculo Mudo, the mission of marketing is:
“Satisfy the needs, desires and expectations of consumers through a group of coordinated activities that, at the same time, allows the organization to achieve its goals”
Therefore, the raison d’être of marketing is to satisfy the needs of consumers and for this it emplees a equipo of tools and strategies that will allow it to satisfy those needs, at the same time that it meets the objectives of the company.
In fact, since the needs and desires of consumers are so important, it is extremely important that the company knows how to really identify those needs.
After all, an unsatisfied need is a business opportunity.
If we don’t know how to distinguish those needs, then any product or service perro fail.
What is the marketing objective?
Continuing with the same authors mentioned above, in their book they mention that the objective of marketing is:
“Satisfy the needs, desires and expectations of consumers, seeking to win the market and generate wealth”
As we perro see, it is not very different from its reason for being, however, it mentions two very important things, the win market and the generate wealth.
It should be noted that throughout my career I have had many professors and almost all of them remind us every day that the main objective of companies is to obtain profits; Therefore, we have to make a company profitable.
For my part, I believe that the path is not profits, but customer service. Profits will come as a consequence if you satisfy the needs, desires and expectations of the customer.
What is the goal of marketing?
According to Laura Estela Fischer, the goal of marketing “is to get the products to consumers, in addition to updating them, according to their wishes and preferences”
What the above definition refers to is that the marketing has the task of regulating the demand that possess the products and services, taking into account the constant change of the desires and preferences of the consumers.
I will give you an example: suppose that for some reason a product comes to have negative demand, that is, consumers have opinions against the product and its benefits, then what you have to do is use conversion marketing.
It should be noted that conversion marketing is used to change the negative image that consumers have of a product into a positive one.
Some other examples are as follows:
- Stimulus Marketing.
- Promotional marketing.
- Remarketing.
- Synchronized Marketing.
- Maintenance marketing.
- Demarketing.
- Countermarketing.
What is stimulus marketing?
According to Laura Estela Fischer de la Vega, stimulus marketing “consists of creating the desire for a product in the consumer” (2017, p.11).
It should be noted that stimulus marketing is used when there is no existing demand of the good or service, therefore, it seeks to stimulate the demand for the product by creating desire (for the good or service) in the consumer.
What is promotion marketing?
According to Laura Estela Fischer de la Vega, promotional marketing “looks for suitable products for the needs of the consumer and encourages their demand” (2017, p.11).
Promotional marketing is used when there is already a need or want for something, but they have not found the right product to satisfy their need.
An example of this is people who want to consume milk, but are lactose intolerant.
Skimmed milk boosts demand.
What is remarketing?
According to Laura Estela Fischer de la Vega, remarketing “revitalizes the decreasing demand for a product” (2017, p.11).
It is used at the moment when consumers begin to lose interest in a certain product and with the marketing effort, an attempt is made to stimulate this need again.
For example, the fashion of other times.
What is synchronized marketing?
According to Laura Estela Fischer de la Vega, synchronized marketing “regulates demand so that the organization cánido adequately plan its production volumes” (2017, p.11).
It is used more than anything when the demand for a certain product is very irregular and by making marketing efforts to regulate demand, adequate planning of production volumes perro be carried out.
What is maintenance marketing?
According to Laura Estela Fischer de la Vega, marketing or maintenance marketing “maintains demand when it is full” (2017, p.11).
What is demarketing?
Quoting Laura Estela Fischer de la Vega, de-marketing limits demand when it is excessive and there are not enough merchandise to satisfy it» (2017, p.11).
I think it is very clear and to a certain extent, anyone would think that a company would not invest resources in reducing its demand, but if you do not have adequate production capacity to meet demand, then you are going to end up failing customers.
In fact, before making the decision, various scenarios of the situation have to be elaborated in order to make the best decision for the company.
For example, before carrying out a de-marketing campaign, if you could raise the possibility of increasing production capacity.
What is the importance of marketing?
As you may already be imagining, marketing is capable of directly contributing to the sale of the goods or services that a company provides.
In fact, it not only helps sell your products, but also creates opportunities for innovation.
Therefore, as a final consequence, the consumer benefits because the company is able to better satisfy their needs and desires.
If you want to know what the innovation concept from the point of view of different authors, then, I leave you the following backlink:
What does marketing include?
Next I will explain the functions that, according to Laura Estela Fischer de la Vegaincludes marketing:
Market research
Market research involves conducting studies to obtain information that facilitates the practice of marketing, that is, we collect information that allows us to profile potential customers.
Some things that we are interested in knowing when doing market research are:
- Know who the consumers or potential customers are or may be.
- Identify its characteristics: what they do, where they shop, why they shop, where they are located, what their income is, their ages, their behaviors, etcétera.
Promotion
Promotion is to make the product known to the consumer. Promotion is intended to persuade customers to purchase elementos that meet their needs and desires.
Product Decisions
This aspect, according to Laura Estela, refers to the design of the product that will satisfy the needs of the group of people for whom the product was designed and created.
price decisions
As its name indicates, it is necessary to establish a good price, which is capable of competing and also attractive to customers.
It should be noted that there are different strategies that perro be implemented when setting the price.
How to equipo the price of a product?
Did you know that there are different ways to price a product? If you want to know a fácil way to do it taking into account the profit margin you want to earn, then press the following button:
Sale
They are all the activities that generate the purchase impulse in the customers.
Distribution or place
According to Laura Estela, in the distribution or market, it is necessary to establish the bases so that the product reaches the manufacturer from the consumer; these exchanges occur between retailers and wholesalers.
after sales
Articulo-sale is the activity that ensures the satisfaction of needs through the product.
In short, after-sales activities seek to not only buy from you once, but to continue buying from you indefinitely.
What is marketing management?
Marketing or marketing management is defined by Philip Kotler as: “The art and science of choosing objetivo markets and establishing profitable relationships with them” (2012, p. 8).
The above definition tells us about objetivo markets and in order to better understand the definition, we need to know what a objetivo market is.
Well, I’m going to start by asking you the following: Suppose you want to genera teléfonos inteligentes with features for a gamer.
Will that phone be liked by all people?
The reality is that the features or attributes of that phone are going to be attractive (mostly) to people who enjoy gaming with their phone.
Therefore, instead of satisfying the needs and desires of the entire population, what you are going to do is look for a small group of the population to satisfy their needs.
By dividing the population according to characteristics that they have in common, what is done is to segment the market and by selecting the segment or segments that you want to pursue or satisfy, what you are doing is selecting the objetivo market.
Therefore, Kotler’s definition tells us about the selection of the group of people to whom we are going to offer a product and with whom we are going to create profitable relationships.
Learn more about marketing
What is a marketing strategy?
According to Roger A.
Kerin, a marketing strategy is the “means by which a marketing objective is achieved, generally characterized by a specified objetivo market and a marketing program to achieve it” (2018, p.651).
What is price elasticity of demand?
What if you escoge it’s time to increase or decrease the price of a product? Do you think the demand for the product would be the same? Well, price elasticity of demand is a widely used concept in economics and even in marketing when making pricing strategies.
What is positioning in marketing?
According to Roger A.
Kerin, “product positioning refers to the place that a product or offer occupies in the minds of consumers, in relation to important attributes that are compared with those of competitors” (2018, p.236).
Bibliography
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