Marketing Mix

14. 10. 2008

Assignment 1- Introduction to marketing (time for lunch)

Task 1

Provide two definitions of marketing

Marketing plays an important part in nowadays business environment because it can either distinguish the company from the competition in a positive, successful way or vice versa. We can describe the term marketing as a management process responsible for identifying, anticipating, and satisfying customers’ requirements.

It is a management activity because it requires continuous gathering, analysing and evaluating of the information. The collected information should help organisations and companies to identify customer requirements. Philip Kotler defines marketing as “satisfying needs and wants through an exchange process.”

Identify the broad aims of organisations in private, public and voluntary sectors.

Public sector – is a non profit making sector, where organisations are funded by the tax payers. It is also the part of the economic and administrative life that deals with the delivery of goods and services by the government to the public.   The public sector consists of government agencies and departments providing services for citizens without a focus to make a profit, e.g. (police, fire brigade, NHS). Public sector also uses advertising, not for selling products, but for recruiting people (soldiers, police officers, medics).

Private sector -is the part of the economy which is run for a private profit and is not controlled by the government. The owners of the businesses are people to whom the business belongs, or its shareholders. The main aim of the companies in this sector is to make as much profit as possible.

Voluntary sector – is the sphere of the social activity undertaken by the organisations which are non-profit and non-governmental. This sector can be known as the 3rd sector. Generally the emphasis is put on providing goods and services which are not available or insufficiently met by the public or private sector....