Marcel Kooter
A DEFINITION OF MARKETING
Marketing
A Definition of
MARKETING
The words ‘marketing’ and ‘advertising’ are often used interchangeably, yet marketing has a few key characteristics that make it unique. The American Marketing Association defines the word marketing as the processes, set of institutions and activity a company uses for communicating, delivering, exchanging and creating offerings that are of value to clients, customers, society and partners.
MARKETING PROCESS
MARKETING CONCEPT
The process of marketing in its simplest form is the steps taken to bring a product from production to market. These steps broadly include market research; segmentation and targeting; the determination of strategies for pricing, distribution and promotion; communications strategy development; budgeting; and long-term goal development.
The marketing concept looks at how organisations need to be able to anticipate customer desires and needs and identify ways of satisfying those wants and needs more effectively than competitors can. Economic demands are created when the wants and needs of the customer are supported by the ability to pay for products that satisfy those wants and needs.
Global marketing strategies account for local cultures and the different wants and needs of customer bases in each target country.
Marcel Kooter
You can learn more about global marketing strategies by visiting the blog of Marcel Kooter.