What is Marketing Assignment

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Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1 Andy Diep 103765289 Swinburne Online Teaching Period 3, 2022 MKT10007 Fundamentals of Marketing Assignment 1: What is Marketing? Due date: 28 November 2022 Date submitted: 27/11/2022 Word count: 907 Words

Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1 Table of contents 1.0 Public opinion ......................................................................................................................... 3 2.0 Formal definitions .................................................................................................................. 5 3.0 Synthesis .................................................................................................................................. 6 References ..................................................................................................................................... 7

Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1 1.0 Public opinion

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Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1

Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1 2.0 Formal definitions What is Marketing? To many people, marketing can be viewed as a process of advertising products/services to society in the hopes of high sales and increased profit values. However, “the process of marketing is not about selling a product; rather, it focuses on identifying customer needs and defining how the product or service meets those needs” (Lee 2013, p. 169). Another way of defining marketing can be “identifying and meeting human and social needs in a way that harmonizes with the goals of the organization” (Kotler & Keller 2021, p. 29). Kotler describes marketing as everywhere and often isn’t just fixated on goods and/or services but rather expands through different types of domains including events, experiences, persons, place, properties, information and ideas (Kotler & Keller 2021, p.30). Additionally, David Packard who was the co-founder of Hewlett-Packard alongside with Bill Hewlett otherwise known as HP suggests that marketing shouldn’t be assigned to one department and that marketing should work in collaboration with other departments in order to determine the best course of action based on how a product/service impacts the consumer (Kotler & Keller 2021, p. 46). I chose Lee’s and Kotler’s definition of marketing because it illustrates how too many members of society perceive marketing as a tactic to get products/services out to civilization regardless of its needed or not rather than acknowledging how marketing processes work hand-in-hand in order to identify gaps in the market and create products and/or services that are deemed a necessity to the targeted demographics.

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Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1 3.0 Synthesis My Interpretation of Marketing Marketing can be defined in numerous ways in civilization. To many people, marketing may mean the process of advertising products/services to the public in hopes of high profit margins, whilst others may perceive marketing as a deception tactic used to manipulate consumers into buying products regardless of whether it meets their needs or not. However, I believe that marketing revolves around identifying needs/wants in the market and creating products/services for most civilization in order to promote gain creation whilst also relieving pains that consumers want to avoid in their day-to-day life. I believe marketing should revolve around meeting the general needs/wants of a demographic rather than mass-producing products with no real consideration of society’s needs because it demonstrates how much organization’s value potential consumers in creating efficiency to individual’s daily lives as opposed to valuing just high profit margins. Whilst marketing can be perceived as just the advertisement of goods and/or services, advertising is a part of the process of making a product/service successful. I believe marketing works together in order achieve one objective which is to exceed consumer’s experience with the offered products/services whilst also satisfying organization’s goals and the process to achieve this involves with not only considering what customers/consumers needs and wants are but also with the production of the products in respect to tending to these needs resulting in advertising what is often perceived as the ideal product to targeted demographics. Whilst marketing is subjective and is often reflected by individual’s shopping experience. Marketing strives to achieve one outcome and that is to create products/services that is required/desired by these demographics through an empathetic process, resulting in a pleasant shopping experience.

Swinburne Online Andy Diep (103765289) MKT10007 Assignment 1 References Lee, D 2013, ‘What is Marketing’ , Public Services Quarterly, vol 9, no. 2, pp. 169-171, viewed 16 November 2022, https://www.tandfonline.com/doi/full/10.1080/15228959.2013.785900? scroll=top&needAccess=true Kotler, P & Keller, K 2021, Marketing Management, Global Edition, Harlow: Pearson Education, Ebook Central (ProQuest)

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