Fundamentals of Marketing

What is the definition of merchandise:
In my research I wee found there are numerous definitions of market. It is a ticklish word to define. According to The Fundamentals of market it can be defined as the process by which companies create note value for clients and build strong customer relationships in order to magnetize value from customers in return, (Armstrong & Kotler 2006). This would entail having a customer driven merchandise program. When you promote a product or service with the customers needs and wants as priority you have started a successful marketing plan.
Going through the last 60 years of marketing strategies you can see the definition of marketing changing. Marketing began as a socioeconomic process in the beginning focusing on transaction and exchange. In 1948, the American Marketing Association defined marketing as a circuit of business activities within a market. In the 50s market research began to take hold in the marketing process. This research included the studies of customers and their response to marketing techniques. This led to the insurgence of large database that stored results from these studies in the 60s. This began leading to exploitation of this information. The growth of tools and models for marketing were developed by the academics of marketing.



They typically focused on the relationship between marketing and the sales that resulted from it. The tools and models were often implemented by the operations of a business or partnership for the marketing manager often didnt have the skills to do so themselves. Early market research clearly didnt focus on the needs of the customer or purge the value of the customer. It was more driven by marketing = sales.
Marketing consists of effectively managing exchanges between people. (Chris Pryor 2001). To break this down, managing in the world of marketing would entail proactively seeking and engaging the customer. This includes profiling and identifying potential customers, encyclopaedism where...If you want to get a full essay, order it on our website: Ordercustompaper.com



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