Defining Marketing Paper Essay Example | Topics and Well Written Essays - 1000 words

Defining trade Paper - Essay ExampleHowever, with the little background that I gained, I have learned that merchandise encompasses a wide array of activities aside from selling products and services. In fact, merchandise is a lot more(prenominal) complicated than it seems. It starts at determining the needs of customers and creating a product together with the proper strategies to bring it to them. Now, my comment of merchandise is the gladness of customer needs through the provision of products and services at a profit.The definition of marketing varies from organization to organization. The Chartered Institute of Marketing (CIM 2007) defined marketing as the management cover responsible for identifying, anticipating, and satisfying customer requirements profitably. This is a very broad definition of marketing. It highlights three important aspects that marketing accomplishes. First, it recognizes the purpose of condescension organizations to design products which satisfy c ustomer requirements. Marketing does not merely involve offering any goods and services but business organizations should strive to offer those which offer customer value. Second, it stresses the aim of business organizations to generate profit from its operations. Thus, the definition of CIM involves assessing the marketing strategy which will be mutually beneficial for customers and companies. contrast organizations as this definition implies are profit maximizing entities. Lastly, this definition highlight that marketing is not just about providing the current needs by anticipating the future requirements of the markets. In summary, the CIMs definition of marketing balances the satisfaction of customer and profit maximizing goal of business organizations.According to the American Marketing Association (AMA 2007), marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to