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MKT 230 week 9 Capstone Discussion Question

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Day 3
Marketing is an activity of producing, promoting, and providing goods and services to
customers and businesses. It is a process of creating and directing an organization to sell
goods or services that people are willing to buy. Marketing builds and maintains a
preference for a particular product and company within the target market. It involves
acquisition of new customers and retention of existing customers. Philip Kotler describes
it as a social process that enables individuals and groups to fulfill their needs by making
and exchanging goods and values with others. Marketing includes selling, advertising and
marketing mix (Product, Price, Place and Promotion). These four Ps of marketing mix
consist of various sub-factors and play an important role in the process of marketing.
There are various factors such as appearance, features, price, etc. that a customer analyses
before buying a product or service. These factors create a value for the product that
enables a customer to purchase that particular product. With these factors, customers are
influenced by cultural, social, psychological and personal factors too. Marketing research
anticipates customers’ future wants & desires and allows organizations to produce and
promote their products and services in accordance with them. It emphasizes on
identification of market opportunities (Kotler, 2002).
Marketing is not a single step; it includes various other activities in it. It starts from
consumer and ends with consumer, which means that consumer plays an important role in
the process of marketing. Marketing starts with the production of a particular product and
passes through various steps, such as advertising, promotion, personal selling, market
research, etc. The study of marketing gives us the understanding of market, consumer
behavior, marketing planning, marketing mix, marketing strategy, managing the product,
distribution, pricing strategy, etc. (Kotler, 2002).
The study of marketing allows a person to enhance his or her understanding about the
factors written above and this understanding assists an individual to achieve a responsible
position in an organization. The present era can be considered as the marketing era, as
due to increased competition, all the organizations have to use various marketing plans
and strategies to attract the customer to purchase their product and retain them by
developing innovative products on regular basis. I came to know about the competition
between organizations and various strategies used by them to gain the market share.
Thus, marketing is a continuous process that helps an organization to understand the
customer wants and fulfill them. I value the ability of analyzing the market, competition,
consumer buying behavior and marketing planning that I learned from this course, which
increased my interest in making a career in marketing.
Reference
Kotler, P. (2002). Marketing Management (11th Edition). New York: Prentice Hall
Private Ltd

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