Marketing and Marketing Management...

Marketing and Marketing Management Marketing management is the management of the marketing activities in an organization and includes management of the processes of planning, organizing, directing, motivating, coordinating, and controlling. It is the process of satisfying the needs and wants of the customers of the organization. Marketing management is an important function of the organization since it brings the organization closer to its customers and consists of establishing a marketing orientated organization with the emphasis on the customer. It is a core component in the organization’s success. Definitions Marketing is a process by which an organization obtains what it needs and wants through creating and exchanging products and value with its customers. In simple words it is the delivery of customer satisfaction at a profit. It satisfies the needs of customers better than the competition. It focuses on the use of all the controllable influences to satisfy the customer. One of the shortest de?nition of marketing is ‘meeting needs pro?tably’. As a managerial definition, marketing has often been described as ‘the art of selling products’. Peter Drucker has defined marketing as ‘Marketing is so basic that it cannot be considered as separate function. It is the whole business seen from the point of view of its final result, that is, from the customer’s point of view’. He has further said that ‘the aim of marketing is to make selling super?uous. The aim of marketing is to know and understand the customer so well that the product or service ?ts him and sells itself. Ideally, marketing should result in a customer who is ready to buy’. Marketing management is a business discipline which focuses on the practical application of marketing techniques and the management of an organization’s marketing resources and activities. Philip Kotler defines marketing as ‘Marketing...