Marketing: Selling And Creating Value Assessment Answer

Answer:

Introduction:

The word ‘marketing’ means many different things to many different people (whether they are directly involved in ‘marketing’ or not). Why do you think this is? 

Marketing is termed by different people in various ways and it is assumed that marketing has only to do with selling. There are various concepts of marketing which are unknown to different people from various backgrounds. It makes more sense to understand the concept of marketing and the intention with which the concept has been introduced in the Product based world (AMA nd).



"text-align: justify;">There are various ways in which people imagine the concept of marketing like

  • Marketing usually involves selling and creating value. In a generic way creation of value to the Customers is missed out (Lars Perner nd)
  • Marketing usually involves sales calls and a lot of interactions between the buyers and the sellers
  • It is generally assumed that marketing for the growth of the Company alone and it does not intend to create any value to the Customers
  • Different Organizations create different products however they generate little value to their Customers which ultimately gets highlighted and the Customers feel that the Companies don’t pay desired attention to their needs
  • Customers feel that the value of the Products should be seen from their perspective than viewing them from a product category alone. This aspect creates and sustains a greater value in relation to the other competitors in the market as the Customers feel that they are being valued and considered while the Companies design their products

References

AMA nd., “Marketing”, Viewed on Aug 15th 2016, https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx

Lars Perner nd., “Consumer Behaviour”, Viewed on Aug 15th 2016, https://www.consumerpsychologist.com/marketing_introduction.html 

Pros and cons of some of these definitions and which one(s) best represent(s) what marketing is truly about? 

Marketing is a vast subject or an activity which is adapted and implemented by various Organizations for the process of strategizing, creating, implementing and monitoring a specific product or a service. Marketing offers various products and services to a no. of Customers and Stakeholders in order to identify products and services through different marketing opportunities and generate greater marketing revenues through a consistent performance (Brassington & Pettit 2013).

Marketing is conducted in various forms and by different audience through various media platforms because of which it is defined in various ways.

For example AMA defines marketing as a process of strategizing, creating, implementing and monitoring a specific product or a service (AMA nd).

Dr. Philip Kotler defines marketing as a science and an art of exploring, designing and delivering a greater value in order to satisfy the customer wants or any of the target markets in order to generate greater revenue.

The best marketing definition is of Dr. Philip Kotler where it caters to different products and to a no. of business firms.

Pros

The Pros of having a set of marketing definitions is that the brand can reach out to a maximum no. of audience through its varied set of ideas and concepts based on which it intends to deliver its products and services. The reason varied is justified in this context because the company attempts to create various marketing campaigns in order to tap different audiences and their requirements (Amber Keefer nd).

Cons

Even without ensuring that there is a scope of entry marketing definitions includes a lot of terms which might not be of any value to the Customers.

References

AMA nd., “Marketing”, Viewed on Aug 15th 2016, https://www.ama.org/AboutAMA/Pages/Definition-of-Marketing.aspx

Brassington F. & Pettit S. (2013) Essentials of Marketing, Harlow: Pearson.

Amber Keefer nd., “Pros & Cons of a Global Marketing Strategy”, Viewed on Aug 15th 2016, https://smallbusiness.chron.com/pros-cons-global-marketing-strategy-40456.html 

Arguments for and Against the Practice of Marketing? 

There are various concepts for and against the concept of marketing because of various factors like

Cost – The marketing programs attract various costs where most of the funds are derived from the public funds in terms of resources. The concepts of marketing are also becoming vague where they are being made to tap the audiences to get attracted to their products however there has been a showcase of a lot of negative aspects in the marketing campaigns (Baines, Fill & Page 2011).

For Example there are some marketing campaigns where the women are used to portray the quality of the product which can be avoided in order to convey a positive outlook for the brand (Dibb, Pride & Ferrell 2012).

In turn the audiences would like to buy the products  based on a quantitative feedback where the numbers would give them a clear understanding of the value which the product would provide like the marketing campaigns could involve questionnaires, surveys, samples, interviews and market research which would prove to be a lot more worthy to the Customers. According to Kotler – broadening the concept of marketing is a critical way of ensuring that the products are marketed and sold in the right way (Kotler, Armstrong, Harris & Piercy 2013).

Criticism to social marketing can be avoided by introducing the authentic practices of marketing for all the products and services through strategic marketing where marketing can be performed in a disciplined way.

References

Dibb S., Simkin L., Pride W., Ferrell O. (2012) Marketing, Concepts and Strategies, Andover: Cengage

Baines P., Fill C., Page K. (2011) Marketing, Oxford: Oxford University Press.

Kotler O., Armstrong G., Harris L., Piercy N. (2013) Principles of Marketing, Harlow: Pearson 

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