Marketing

Sep 1, 2010

Guide for HND’s Marketing Assignment

Compare alternative definitions of marketing (P1 M1)

In this task, you are expected to compare the most commonly used definitions of Marketing. Few of the standard marketing definitions are

The management process responsible for identifying, anticipating and satisfying customer requirements profitably. CIM

Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Kotler

In the above two definitions you can start by putting down the common elements in both for instance,

Both definitions are calling Marketing to be a “process” which means there are various steps undertaken in order to achieve an objective.

The definitions also explain that the customers or the individuals have needs and wants which need to be sasfied.

On the other hand, there are clear differences between the two as well. CIM calls it a management process whilst Kotler calls it a social process putting more focus on individuals working in the marketing process rather than systems and designs.

Identify the main characteristics of marketing oriented organisation (P2, M2)

A marketing oriented organisation

Marketing oriented organisations are highly customer centric. For them the entire business operations are based on satisfying customer’s needs and wants profitably.

Such organisations have some common characteristics which are as follows:

1. Such organisations are highly customer focussed.

2. Conduct market research in order to ascertain the consumers needs, market trends and new opportunities.

3. Have the required marketing resources in the form of a marketing department, with an organisation structure linking marketing with the business strategy.

4. Have a short-term and most importantly have a long term marketing strategy.

Explain the various elements of the marketing concept (P3, M3)

The Marketing elements...