Treetop Forest Products Ltd
Marketing: In business, firm marketing generates the revenues that the financial people manage and the production people use in creating goods and services. The challenge that faces marketing is to generate those revenues by satisfying customers’ wants at a profit and in a socially responsible manner.
However, marketing is not limited to business organizations. Whenever we try to persuade somebody to do something: donate to RED CROSS, not to litter the highways, save energy, vote for candidate, we are engaging in marketing; thus marketing has a broad societal meaning and it is applicable not only for profit making but also for not profit organizations.
Many scholars define marketing as follows: 1. According to American Marketing Association, marketing is defined as the performance of business activities that direct the flow of goods and services from producers to consumers or users. 2. According to William J. Stanton, Marketing is a system of business activities designed to plan, price, promote and distribute want satisfying goods and services to present and potential customers. 3. According to Evans and Berman, Marketing is the anticipation, stimulation, facilitation, regulation and satisfaction of consumer and public’s demand for products, services, organizations, people, places, and ideas through the exchange process. 4. According to Philip Kotler, Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
Generally, the definition of marketing can be grouped in to two: classical (narrow) definition and modern (broad) definition.
Classical Definition:
In classical terms marketing can be defined as the performance of business activities that direct the flow of goods and services from producers to consumers. This definition is too narrow to describe marketing. It emphasizes the distribution aspect of marketing.
Modern
However, marketing is not limited to business organizations. Whenever we try to persuade somebody to do something: donate to RED CROSS, not to litter the highways, save energy, vote for candidate, we are engaging in marketing; thus marketing has a broad societal meaning and it is applicable not only for profit making but also for not profit organizations.
Many scholars define marketing as follows: 1. According to American Marketing Association, marketing is defined as the performance of business activities that direct the flow of goods and services from producers to consumers or users. 2. According to William J. Stanton, Marketing is a system of business activities designed to plan, price, promote and distribute want satisfying goods and services to present and potential customers. 3. According to Evans and Berman, Marketing is the anticipation, stimulation, facilitation, regulation and satisfaction of consumer and public’s demand for products, services, organizations, people, places, and ideas through the exchange process. 4. According to Philip Kotler, Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
Generally, the definition of marketing can be grouped in to two: classical (narrow) definition and modern (broad) definition.
Classical Definition:
In classical terms marketing can be defined as the performance of business activities that direct the flow of goods and services from producers to consumers. This definition is too narrow to describe marketing. It emphasizes the distribution aspect of marketing.
Modern