Is a group of activities designed to facilitate and expedite the selling of goods and services?

Chapter 11MANAGING THE MARKETING FUNCTIONEngineering managers are engaged in the production of tangible or intangible goods. Some ofthese engineer managers are directly responsible for marketing the company’s products orservices. If he is promoted as general manager, both the production and marketing functionsbecome his overall concern. At whatever management the level the engineer manager works,he must be convincing others to patronize his outputs. If he is the general manager of aconstruction firm, he must convince people with construction needs to avail of the services ofthe company. If he is the staff officer of a top executive, he must convince his boss tocontinuously rely on him regarding the staff services he provides. If the foregoing statementsare true, the engineer manager has a marketing problem. He needs to understand certainconcepts related to the marketing discipline.Marketing is a group of activities designed to facilitate and expedite the selling of goods andservices. The marketing concept states that the engineer must try to satisfy the needs of hisclients by means of a set of coordinated activities. When clients are satisfied with what thecompany offers, they continually provide business. In the marketing sense, the term “product”includes the tangible (or intangible) item and its capacity to satisfy its specific need. When acustomer buys a car, he is actually buying the comfortable ride he. anticipates to derive from thecar. This is not to mention the psychological benefits attached to the ownership of a car. Theservices provided by the engineer manager will be evaluated by the client on the basis whetheror not his or her exact needs are met. When a competitor comes into the picture and sells thesame type of service, the pressure to improve the quality of services sold will felt. When theimprovement is not possible, “extras” or “bonuses” are given to clients. An example is theconstruction company that provides “free estimates” on whatever inquiries on construction arereceived.Price refers to “the money or other considerations exchanged for the purchase or use of theproduct, idea, or service”. Some companies use price as a competitive tool or as means toconvince them. customer to buy. When products are similar in quality or other characteristics,

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The Leadership Experience

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MBA Core Management Knowledge - One Year Revision Schedule 1920–1924 •Duncan (1920, pp. 1–2): “Marketing ... has to do with the actual distribution of goods, the buying and selling process…. It includes all of the processes of transportation, storing, weighing, grading, buying, selling, etc.” Duncan, C.S. (1920), Marketing: Its Problems and Methods. New York: D. Appleton and Company. •Clark (1922, p. 1): “Marketing consists of those efforts which effect transfers in the ownership of goods, and care for their physical distribution.” Clark, Fred E. (1922), Principles of Marketing. New York: Macmillan. 1925–1929 •Brown (1925, p. 3): “Marketing may be defined as the process of transferring goods through commercial channels from producer to consumer.” Brown, Edmund (1925), Marketing. New York: Harper and Brothers. •Maynard and Beckman (1927, p. 1): “Marketing covers all activities necessary to effect transfers in the ownership of goods and to provide for their physical distribution.” Maynard, Harold H., Walter C. Weidler, and Theodore N. Beckman (1927), Principles of Marketing. New York: Ronald Press. 1930–1934 •Converse (1930, p. 3): “Marketing in a broad sense covers those business activities which have to do with the creation of place and time utilities.” •Clark (1932, p. 1): “Marketing consists of those efforts which effect transfers in the ownership of goods and care for their physical distribution.” •Maynard and Beckman (1932, p. 3): “Marketing covers all business activities necessary to effect transfers in the ownership of goods and to provide for their physical distribution.” 1935–1939 •AMA (1935, in Keefe 2004): “Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers.” •Converse (1935, p. 3): “Marketing, in a broad sense, covers those business activities that have to do with the creation of place, time, and possession utilities.” •Maynard and Beckman (1939, p. 3): “Marketing covers all business activities necessary to effect transfers in the ownership of goods and to provide for their physical distribution.” 1940–1944 •Converse (1940, p. 1): “Marketing, in a broad sense, covers those business activities that have to do with the creation of place, time, and possession utilities.” •Clark (1942, p. 1): “Marketing consists of those efforts which effect transfers in the ownership of goods and services and care for their physical distribution.” 1945–1949 •Maynard and Beckman (1946, p. 3): “[M]arketing covers all business activities necessary to effect transfers in the ownership of goods and to provide for their physical distribution.” •Converse (1946, p. 1): “Marketing includes all the activities involved in the creation of place, time, and possession utilities.” •AMA (1948, in Keefe 2004): “Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers.” 1950–1954 •Maynard and Beckman (1952, p. 3): “[M]arketing covers all business activities necessary to effect transfers in ownership of goods and to provide for their physical distribution.” •Converse (1952, p. 1): “Marketing includes all the activities involved in the creation of place, time, and possession utilities.” 1955–1959 •Maynard and Beckman (1957, p. 4): “[M]arketing covers all business activities necessary to effect transfers in ownership of goods and to provide for their physical distribution.” •Converse (1958, p. 4): “Marketing includes the activities involved in the creation of place, time, and possession utilities.” 1960–1964 •AMA (1960, in Keefe 2004): “Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers.” •McCarthy (1960, p. 33): “Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user in order to best satisfy consumers and accomplish the firm’s objectives.” •McCarthy (1964, p. 16): “Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user in order to satisfy customers and accomplish the firm’s objectives.” 1965–1969 •Converse (1965, p. 1): “Marketing, the exchange of goods and services, is a very common and ordinary activity which directs and controls the movement of goods and services from producers to consumers.” •Kotler (1967, p. 12): “Marketing is the analyzing, organizing, planning, and controlling of the firm’s customer-impinging resources, policies, and activities with a view to satisfying the needs and wants of chosen customer groups at a profit.” •McCarthy (1968, p. 9): “Marketing is the performance of business activities which direct the flow of goods and services from producer to consumer or user in order to satisfy customers and accomplish the company’s objectives.” 1970–1974 •McCarthy (1971): “[Macro-m]arketing is concerned with designing an efficient (in terms of use of resources) and fair (in terms of distribution of output to all parties involved) system which will direct an economy’s flow of goods and services from producers to consumers and accomplish the objectives of the society” (p. 19). “[Micro-marketing] is the performance of business activities which direct the flow of goods and services from producer to consumer or user in order to satisfy customers and accomplish the company’s objectives” (p. 19). •Kotler (1972): “Marketing is the set of human activities directed at facilitating and consummating exchanges” (p. 12). “Marketing management is the analysis, planning, implementation, and control of programs designed to bring about desired exchanges with target audiences for the purpose of personal or mutual gain. It relies heavily on the adaptation and coordination of product, price, promotion, and place for achieving effective response” (p. 13). 1975–1979 •McCarthy (1975): “[Macro-m]arketing is concerned with designing an efficient (in terms of use of resources) and fair (in terms of distribution of output to all parties involved) system which will direct an economy’s flow of goods and services from producers to consumers and accomplish the objectives of the society” (pp. 18–19). “[Micro-m]arketing is the performance of business activities which direct the flow of goods and services from producer to consumer or user in order to satisfy customers and accomplish the company’s objectives” (p. 19). •Kotler (1976): “Marketing is human activity directed at satisfying needs and wants through exchange processes” (p. 5). “Marketing management is the analysis, planning, implementation, and control of programs designed to bring about desired exchanges with target markets for the purpose of achieving organizational objectives. It relies heavily on designing the organization’s offering in terms of the target market’s needs and desires and using effective pricing, communication, and distribution to inform, motivate, and service the market” (p. 7). •Pride and Ferrell (1977, p. 9): “We define marketing as individual and organizational activities aimed at facilitating and expediting exchanges within a set of dynamic environmental forces.” •McCarthy (1978, pp. 7–8): “Micro-marketing is the performance of those activities which seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.” 1980–1984 •Kotler (1980): “Marketing [is a] human activity directed at satisfying needs and wants through exchange processes” (p. 19). “Marketing management is the analysis, planning, implementation, and control of programs designed to create, build, and maintain mutually beneficial exchanges and relationships with target markets for the purpose of achieving organizational objectives. It relies on a disciplined analysis of the needs, wants, perceptions, and preferences of target and intermediary markets as the basis for effective product design, pricing, communication, and distribution” (p. 22). •Pride and Ferrell (1980, p. 7): “Marketing consists of individual and organizational activities aimed at facilitating and expediting exchanges within a set of dynamic environmental forces.” •McCarthy (1981): “Micro-marketing is the performance of activities which seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process which directs an economy’s flow of goods and services from producers to consumers in a way which effectively matches supply and demand and accomplishes the objectives of society” (p. 10). •Pride and Ferrell (1983, p. 10): “Marketing consists of individual and organizational activities aimed at facilitating and expediting exchanges within a set of dynamic environmental forces.” •McCarthy (1984): “Micro-marketing is the performance of activities which seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 11). “Macro-marketing is a social process which directs an economy’s flow of goods and services from producers to consumers in a way which effectively matches supply and demand and accomplishes the objectives of society” (p. 13). •Kotler (1984): “Marketing is a social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others” (p. 14). “Marketing management is the analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges and relationships with target markets for the purpose of achieving organizational objectives” (p. 14). 1985–1989 •AMA (1985, in Keefe 2004): “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” •Pride and Ferrell (1985, p. 9): “Marketing consists of individual and organizational activities aimed at facilitating and expediting exchanges within a set of dynamic environmental factors.” •Pride and Ferrell (1987, p. 7): “Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas.” •McCarthy (1987): Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 10). •Kotler (1988): “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others” (p. 11). “Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives” (p. 11). •Pride and Ferrell (1989, p. 8): “Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas.” 1990–1994 •McCarthy (1990): “Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 10). •Kotler (1991): “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others” (p. 10). “Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives” (p. 11). •Pride and Ferrell (1991, p. 4): “Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas.” •McCarthy (1993): “Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 10). •Pride and Ferrell (1993, p. 4): “Marketing consists of individual and organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas.” •Kotler (1994): “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others” (p. 13). “Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create exchanges with target groups that satisfy customer and organizational objectives” (p. 13). 1995–1999 •Pride and Ferrell (1995, p. 4): “Marketing is the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships in a dynamic environment.” •McCarthy (1996): “Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 10). •Kotler (1997): “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others” (p. 9). “Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals” (p. 15). •Pride and Ferrell (1997, p. 4): “[M]arketing [is] the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships in a dynamic environment.” •McCarthy (1999): “Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 10). 2000–2004 •McCarthy (2002): “Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 8). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 10). •Kotler (2003): “Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others” (p. 9). “Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value” (p. 9). •Pride and Ferrell (2003, p. 4): “Marketing is the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment.” •AMA (2004, in Keefe 2004):“Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” 2005 Onwards •McCarthy (2005): “Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client” (p. 7). “Macro-marketing is a social process that directs an economy’s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objectives of society” (p. 9). •Kotler (2006): “Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others” (p. 6). “Marketing management [is] the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value” (p. 6). •Pride and Ferrell (2006, p. 4): “Marketing [is] the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment.” Additional References The American Marketing Association Definition of Marketing: Moving from Lagging to Leading Indicator Debra Jones Ringold and Barton Weitz, Journal of Public Policy & Marketing, Vol. 26 (2) Fall 2007, 251–260

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