Marketing
Marketing
Anthony Paige
National University
Marketing When we watch television, listen to the radio or walk into a place of business, we are marketed too. How has the definition of marketing changed and what makes it an effective business practice? This paper will describe and explain marketing and explain the importance of marketing in organizational success. Not too long ago marketing was considered as a basic function in a business where a company would extol the virtues of their product or service in order to get consumers to buy them. According to Hunt (1976), the American Marketing Association (AMA) defined marketing as "the performance of business activities that direct the flow of goods and services from producer to consumer or user (p. 17). There were schools of thought that wanted to include other aspects in the definition on marketing. In 1965, the marketing staff of the Ohio State University recommended that marketing be considered "the process in a society by which the demand structure for economic goods and services is anticipated or enlarged and satisfied through the conception, promotion, exchange, and physical distribution of goods and services” Hunt (1976). Even back nearly 50 years ago smart people knew the relationship that had to be developed and nurtured between a business and its customers. This definition took into account the entire process including how it affected society. The AMA updated the definition of marketing to reflect a new reality created in part by the World Wide Web. According to Darroch, Miles, Jardine, & Cooke, (2004), “Marketing is 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” (p. 29). Today marketing is an all-inclusive relationship between an organization and its customers. The ability of an organization to
Anthony Paige
National University
Marketing When we watch television, listen to the radio or walk into a place of business, we are marketed too. How has the definition of marketing changed and what makes it an effective business practice? This paper will describe and explain marketing and explain the importance of marketing in organizational success. Not too long ago marketing was considered as a basic function in a business where a company would extol the virtues of their product or service in order to get consumers to buy them. According to Hunt (1976), the American Marketing Association (AMA) defined marketing as "the performance of business activities that direct the flow of goods and services from producer to consumer or user (p. 17). There were schools of thought that wanted to include other aspects in the definition on marketing. In 1965, the marketing staff of the Ohio State University recommended that marketing be considered "the process in a society by which the demand structure for economic goods and services is anticipated or enlarged and satisfied through the conception, promotion, exchange, and physical distribution of goods and services” Hunt (1976). Even back nearly 50 years ago smart people knew the relationship that had to be developed and nurtured between a business and its customers. This definition took into account the entire process including how it affected society. The AMA updated the definition of marketing to reflect a new reality created in part by the World Wide Web. According to Darroch, Miles, Jardine, & Cooke, (2004), “Marketing is 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” (p. 29). Today marketing is an all-inclusive relationship between an organization and its customers. The ability of an organization to
References: Darroch, J., Miles, M. P., Jardine, A., & Cooke, E. F. (2004). THE 2004 AMA DEFINITION OF MARKETING AND ITS RELATIONSHIP TO A MARKET ORIENTATION: AN EXTENSION OF COOKE, RAYBURN, & ABERCROMBIE (1992). Journal Of Marketing Theory & Practice, 12(4), 29-38. Hunt, S. D. (1976). The Nature and Scope of Marketing. Journal Of Marketing, 40(3), 17-28