Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitability.

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Marketing

Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitability.

Management – day to day operations, admin, organise and motivate staff, manage customers and to monitor other departments, organise money and the profit they make. The use of this term indicates the level of importance of marketing decisions. Successful marketing needs requires constant information gathering, as well as data analysis in order for decisions to be made.

Identifying – in marketing identifying the customer requirements in a business and how do we keep in touch with their thoughts and perceptions about our goods and service.

Anticipating – Consumer requirements needs to be taking into account. As people become richer they may look for a more greater variety of goods and services, it also involves looking at the future as well as the past.

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Satisfying – This involves meeting consumer requirements. Customers want the right goods at the right price at the right time and the right place.

Profitability – This motivates organisations to supply goods to consumers in a market. Profit may be simply one motive for supplying the goods to a market. Also market share and market leadership maybe included as well. God marketing helps managers to improve the performance of their part of the business and to meet the most basic of the business objectives – a profit.

Successful marketing is important to a business because it has ...

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