Marketing

Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development.[1] It generates the strategy that underlies sales techniques, business communication, and business developments.[1] It is an integrated process through which companies build strong customer relationships and create valuefor their customers and for themselves.[1]
Marketing is used to identify the customer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries.[citationneeded] The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.[citation needed]
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.[2] It proposes that inorder to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.[2]
Contents [hide]
1 Further definitions
2 Evolution of marketing
2.1 Earlier approaches
2.2 Contemporary approaches
3 Customer orientation
3.1 Organizational orientation
3.1.1 Herd behavior
3.1.2 Further orientations
4Marketing research
4.1 Marketing environment
4.2 Market segmentation
4.3 Types of marketing research
5 Marketing planning
5.1 Marketing strategy
6 Marketing specializations
7 Buying behaviour
7.1 B2C buying behaviour
7.2 B2B buying behaviour
8 Use of technologies
9 Services marketing
10 See also
11 References
12 Bibliography
12.1 Works cited
12.2 Further reading
[edit]Furtherdefinitions

Marketing is further defined by the AMA as an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.[3] The term developed from an original meaning which referred literally to going to a market to buy or sell goods or services. Seenfrom a systems point of view, sales process engineering marketing is "a set of processes that are interconnected and interdependent with other functions,[4] whose methods can be improved using a variety of relatively new approaches."
The Chartered Institute of Marketing defines marketing as "the management process responsible for identifying, anticipating and satisfying customer requirementsprofitably."[5] A different concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.[6] In this context, marketing is defined as "the management process that seeks to maximize returns to shareholders by developing relationships with valued customers and creating a competitive advantage."[6]
Marketing practice tended to be seen as a creativeindustry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes. The overall process startswith marketing research and goes through market segmentation, business planning and execution, ending with pre- and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.
Browne (2010) reveals that supermarkets intensively research and study...