| Management Learner

The Origin Of Marketing

Marketing:

We can distinguish between a social and a managerial definition for marketing. According to a social definition, Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products and services of value freely with others.

Origin-Marketing

As a managerial definition, marketing has often been described as “the art of selling products.” But Peter Drucker, a leading management theorist, says that “the aim ofmarketing is to make selling superfluous. The aim ofmarketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, it should result in a customer who is ready to buy.”

The American Marketing Association offers this managerial definition:

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. Coping with exchange processes—part of this definition—calls for a considerable amount of work and skill. We see marketing management as the art and science of applying core marketings concepts to choose target markets and get, keep, and grow customers through creating, delivering, and communicating superior customer value.

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