Marketing Summary

A Brief History of Marketing. What is marketing ? Marketing and internal resources. Much of the structure of marketing theory. Differences in theory. The marketing mix. Sentences Past simple. Had been learned. Past perfect continuous. Had been repairing. Present perfect continuous.

What is marketing? Marketing term is very misused and misunderstood – it has come to mean many things to many different people. Long story short – marketing is a human activity directed at satisfying needs and wants through exchange processes. An attitude of mind is a key of marketing. It requires that, in taking ‘marketing’ decisions, the manager looks at these from the viewpoint of the customer. These decisions will thus be driven by what the customer needs and wants.

Marketing and internal resources. Marketing role is, after all, primarily to serve the organization, even if its first task may then be to remind the organization that it is also there (secondarily) to serve the customer. Marketing process consists of:

Developing an understanding of what resources the organisation has at its disposal.

Using this ‘filter’ the marketer can move to find out about the customer.

Manipulating the organization’s resources to achieve the resulting marketing objectives.

Complexity of interaction and timescales. The true main features of marketing theory:

Multiple decision-makers. It means that the purchasing decision in nicely isolated and taken by the buyer alone.