Marketing Definition • noun the promotion and selling of products or services. Marketing [according to Peter Drucker] "Because the purpose of business is to create customer, the business enterprise has two - and only these two - basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business." Marketing [definition by Wikipedia]
Marketing is the process associated with promoting for sale goods or services. It is considered a "social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others." It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
The term marketing concept holds that achieving organisational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes. The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also adept at re-inventing itself and its vocabulary according to the times and the culture.
Marketing [definition by American Marketing Association(AMA)]
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (Approved October 2007)
- The Starbucks Experience: 5 Principles for Turning Ordinary Into Extraordinary by Joseph A. Michelli
- The Science of Influence by Kevin Hogan
- The Art of Possibility by Rosamund Stone Zander and Benjamin Zander
- Connected by Nicholas A. Christakis, MD, PhD and James H. Fowler, PhD - "If someone you barely know reads Connected, it could change your life forever. How? Read it yourself and find out" (Daniel Gilbert)
- The Execution Premium by Robert S. Kaplan and David P. Norton - Great book on strategy planning and a lot of good case studies featured. Caution: Reading the book can make you feel you could solve all your organization's strategy problems with BSC (Balance Score Card)!
- The Mind Of The Strategist: The Art of Japanese Business by Kenichi Ohmae
- Repositioning by Jack Trout with Steve Rivkin - The earlier, highly acclaimed Positioning by the same authors was a "must read" 10 years ago during my Marketing course. This new edition Repositioning is equally indispensible for marketing.
- 25 Ways to Win with People: How to Make Others Feel Like a Million Bucks by John C. Maxwell and Les Parrott
- Marketing Plans: How to prepare them, how to use them by Malcolm McDonald
- The ultimate book of MIND MAPS by Tony Buzan
- The Fall of Advertising and the Rise of PR by Al Ries and Laura Ries.
- The Sales Bible: The Ultimate Sales Resource, New Edition by Jeffrey Gitomer - A must read! If you are serious about sales.
- The Five Dysfunctions of a Team: A Leadership Fable (J-B Lencioni Series) - Re-defining "team" and "teamwork" in the most powerful and effective way.
- http://www.themarketer.co.uk - from the Chartered Institute of Marketing
- www.marketingmagazine.com.my - So far the only real marketing magazine I've found on our local newstand.
- In Search of the Obvious: The Antidote for Today's Marketing Mess by Jack Trout.
- Differentiate or Die: Survival in Our Era of Killer Competition by Jack Trout and Steve Rivkin - A must read! If you are serious about marketing.
- The 22 Immutable Laws of Marketing: Violate Them at Your Own Risk! by Al Ries and Jack Trout.
- How to Get from Where You Are to Where You Want to Be: The 25 Principles of Success by Jack Canfield.
- Good to Great: Why Some Companies Make the Leap... and Others Don't by Jim Collins.
- The Portable MBA in Marketing (The Portable MBA Series) by Charles D. Schewe and Alexander Hiam.