Marketing Management is the art and science of choosing targets markets and getting, keeping, and growing customers through creating, delivering, and communicating superiorcustomer value, according to book Marketing Management of Kotler & Keller. What this means if the company capture and retain the hearts and minds of current and prospective customers, it what is need tohave great marketing.
Marketing is becoming more important in organizations around the world, trying to develop products and/or services that are attractive to their customers and want to be thedifferent offering in the global marketplace. By this according to Kotler the company “satisfying needs and wants through an exchange process”. The company gives the customer a service and the customergives the company revenue. If in the process one of the parts is not satisfied the quid pro quo relationship will end, and marketing tries to make sure that this does not happen.
The fundamentalprincipals of marketing help the company achieve there goals, these are the concepts:
• Needs, Wants, and Demands: Needs are the basic human requirements. There are 5 types of needs: stated needs, realneeds, unstated needs, delight needs, and secret needs. These needs become wants when they are directed to specific objects that might satisfy the need. Demands are the wants for specific productsbacked by an ability to pay.
• Targets Markets, Positioning, and Segmentation: Since the marketer can not satisfy every one, the markets are divided in to segments. After this are identify, then themarketer choose witch one is the best opportunity, this is the targets markets. The firm develops a market offering that it positions in the minds of the target buyers as delivering some centralbenefits(s).
• Offerings and Brands: The intangible value proposition is made physical by an offering, which can be a combination of products, service, information, and experiences. A brand is an offering...