Management of Marketing

Management of Marketing

Management of Marketing

Management of Marketing

Synopsis

Covers the key topics of the marketing component of an MBA course and provides a balance of theory and application to ensure both aspects of the core concepts are covered. This book is accompanied by student and lecturer web sites providing additional material to enhance the points in the text and to ensure further learning.

Excerpt

The concept of marketing is neither complicated nor original. ‘The customer is always right’ is a view that has been cited ever since the Industrial Revolution. Marketing acknowledges consumer sovereignty and this has now developed into a management discipline. The subject of marketing as a management discipline originated in the USA in the 1950s, but its origins go back further. America was the birthplace of modern marketing, but in terms of its earliest practice, it was applied much earlier in Europe. The carpenter, tailor, saddler and stonemason knew their customers personally and were in a position to discuss individual needs of size, colour, shape and design at an individual level. Craftsmen appreciated they had to provide satisfactory service to customers. The Industrial Revolution gave rise to large scale manufacturing, so this personal contact ended. With mass production came mass markets and mass distribution. Manufacturers were no longer able to offer a personalised service, and techniques of marketing were developed to fill this gap.

There is no universally accepted definition of marketing. The way it is understood conditions people’s perceptions of its value and the contribution it can make both to the success of an organisation and to the competitive health of the economy. As a student of marketing, it is important to appreciate that the term ‘marketing’ means different things to different people. We examine the subject from these different viewpoints later in this chapter.

Marketing is based on the premise that the customer is the most important person to the organisation. Most people think of the term customer in the context of a profit-making facility. Whilst it is true that the marketing concept has been more widely adopted and practised in the profit-making sectors of the economy, the fundamental principles of marketing are equally applicable in the not-for-profit sectors; a fact that is often overlooked.

Marketing as an organisational philosophy and activity is applicable to almost all types of organisation, whether profit-making or not-for-profit activities.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.