The Marketing Concept and Marketing Communications Essay - 1

The Marketing Concept and Marketing Communications - Essay Example developed an online resume databank so job-hunters and employers can find each other more efficiently; or CarMax which invented a new way to sell used cars because people want more certainly when buying such vehicles, all illustrate a drive to turn a private or social need into a profitable business opportunity (Hansell, 2002; Healey, 2002). Companies must carefully monitor their customers and competitors, continuously improve their value offerings, carefully define the target market and value proposition, and take a long term view to satisfy customers, stockholders, employees, suppliers and channel partners. As a managerial definition marketing has often been described as the â€Å"art of selling products†. But Peter Drucker (1973) a leading management theorist says, â€Å"the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sell itself. Ideally, marketing should result is a customer who is ready to buy.† The American Marketing Association offers this managerial definition: Marketing (Management) is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfying individual and organizational goals. The success enjoyed by many firms like General Motors has been a strong influence on the strategic school of management thinking. Not surprisingly, therefore as marketing emerged as a distinct management discipline in the second half of the twentieth century, many academics drew upon strategic management concepts to create the first ever-theoretical models of marketing process. Coca-Cola, McDonalds and Levi Strauss performance could be linked to the adoption of a marketing oriented business philosophy. This approach to management is based on the concept that financial goals can best be achieved by first determining the needs of the customer and then satisfying these by