MARKETING MANAGEMENT TERM PAPER GUIDEL
i. Abstract
1.0. Introduction
1.1. Marketing
The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P 's of marketing:
(1) identification, selection and development of a product,
(2) determination of its price,
(3) selection of a distribution channel to reach the customer 's place, and
(4) development and implementation of a promotional strategy.
First, Drucker’s earlier views on marketing such as those contained in Managing for Results (1964) suggested that not too many people really understood the marketing concept. There he wrote, “’Marketing’ has become a fashionable term. But a gravedigger remains a gravedigger even when called a ‘mortician”—only the cost of the burial goes up. Many a sales manager has been renamed "marketing vice president"—and all that happened was that costs and salaries went up.”
He continued his criticism by adding, “A good deal of what is called ‘marketing’ today is at best organized, systematic selling in which the major jobs—from sales forecasting to warehousing and advertising—are brought together and coordinated. But the starting point is still our products, our customers, and our technology. The starting point is still the inside.
1.2. Selling
The last step in the chain of commerce where a buyer exchanges cash for a seller 's good or service, or the activity of trying to bring this about.
1.3. Marketing vs. Selling
“The difference between marketing and selling is more than semantic.
Selling focuses on the needs of the seller, marketing on the needs of the buyer.
Selling is preoccupied with the seller’s need to convert his product into cash; marketing with the idea of satisfying the needs of the customer by means of the product and the cluster of things associated with creating, delivering, and finally consuming it.” - Theodore Levitt
The quotation above is not from Drucker but rather from Theodore Levitt in his classic 1960
1.0. Introduction
1.1. Marketing
The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P 's of marketing:
(1) identification, selection and development of a product,
(2) determination of its price,
(3) selection of a distribution channel to reach the customer 's place, and
(4) development and implementation of a promotional strategy.
First, Drucker’s earlier views on marketing such as those contained in Managing for Results (1964) suggested that not too many people really understood the marketing concept. There he wrote, “’Marketing’ has become a fashionable term. But a gravedigger remains a gravedigger even when called a ‘mortician”—only the cost of the burial goes up. Many a sales manager has been renamed "marketing vice president"—and all that happened was that costs and salaries went up.”
He continued his criticism by adding, “A good deal of what is called ‘marketing’ today is at best organized, systematic selling in which the major jobs—from sales forecasting to warehousing and advertising—are brought together and coordinated. But the starting point is still our products, our customers, and our technology. The starting point is still the inside.
1.2. Selling
The last step in the chain of commerce where a buyer exchanges cash for a seller 's good or service, or the activity of trying to bring this about.
1.3. Marketing vs. Selling
“The difference between marketing and selling is more than semantic.
Selling focuses on the needs of the seller, marketing on the needs of the buyer.
Selling is preoccupied with the seller’s need to convert his product into cash; marketing with the idea of satisfying the needs of the customer by means of the product and the cluster of things associated with creating, delivering, and finally consuming it.” - Theodore Levitt
The quotation above is not from Drucker but rather from Theodore Levitt in his classic 1960
References: (APA Format)