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Marketing and its role in the corporation
Marketing deals with identifying and meeting human and social needs. (Kotler 3) In shortest words, marketing is ¡°meeting needs profitably¡±. People have needs for all kinds of stuffs and services, and to find out what people need and then satisfy their needs is what a business do. In exchange for the products and services provided, businesses get profits. According to American Marketing Association, ¡°marketing is 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 stake holders¡±. (Kotler 3) Marketing is almost everything.
Marketing plays an important role in each corporation. What a business needs to do is to create customers and satisfy their needs. Management is responsible for control, oversee, and allocate the resource and whole process; however, management can not work without marketing. Marketing is the basic but core function of a business. Marketing helps a business selling its products and service, putting a business¡¯s name out there, and connecting a business with its customers. Without marketing, a business is meaningless.
Marketing mix
Marketing mix is the combination of all elements a business uses to market its products, and it includes product, price, place, and promotion. Good products market themselves because they benefit customers. Making good products is essential to a business. A good product requires variety, quality, design, features, brand name, packaging, sizes, services, warranties, and returns. Setting a price for the products is another important process. ...