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Marketing - Essay Example

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This paper aims at discussing a few elements of marketing using an example of a leading retailer, Marks and Spencer. The paper will firstly provide a brief explanation of the…
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Marketing
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Download file "Marketing" to see previous pages... This will be followed by the marketing mix of the company. The paper on the whole provides a deep insight into the company and marketing aspects of the M&S.
The term marketing has a number of different views and opinions and there is a high level of confusion that can be found on this term. Different people from different industries have different views on the term.
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Ever industry uses the term marketing for different processes within the company (Webster, 1988). For instance, for a company selling coal, marketing is simply an understanding of the local markets and the cost that he can sell the produced coal. However marketing is very different for a person working for a company that sells products in the market. The alternative definition to marketing includes that by the AMA (The American Marketing Association). The AMA has defined marketing as, “The performance of business activities directed toward, and incident to, the flow of goods and services from producer to consumer or user” (OShaughnessy, 1984, p. 4). The above mentioned definition focuses on the distribution aspects of marketing and there is clearly no mention of the most essential aspect of marketing, i.e. the Four P’s. The AMA has revised this definition and changes it to a more comprehensive one in 1985 which explained, “The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives” (Marketing Library, 2010). As seen the revised definition of marketing takes into account the various elements and concepts related to marketing. The newer definition of marketing is one which provides a completely rounded explanation of marketing.
Market oriented organisations have a number of characteristics which include, a) Customer focus, b) Customer Orientation, c) Marketing Coordination & Integration, d) Long term focus and ...Download file "Marketing" to see next pagesRead More
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