Publisher's Synopsis
Marketing Management by Prentice Hall provides an in-depth review of how marketing operates and is applied by marketing and corporate professionals around the globe. It has been written specifically to meet the needs of students studying or working in marketing related professions.
Marketing is an activity that is ever-evolving and essential to the existence and sustainability of any business. Marketing requires an in-depth knowledge of market conditions to provide businesses with information needed to adapt their financial, production, and HRD tasks in line with market needs. Marketing today focuses on customer relationships as a major priority of modern marketing practices.
Marketing can be defined as the practice of identifying and satisfying social and human needs in an efficient, cost-effective manner. One simple definition could be: meeting needs profitably
There is a difference between social and management definitions of marketing. According to social marketing definition, it refers to an activity by which individuals and groups obtain what they require by creating, distributing and exchanging goods and services of value between each other.
Marketing, from a management viewpoint, is typically defined as the act of selling goods; however, Peter Drucker - an acclaimed management scholar - believes the purpose of marketing is not selling; instead it should aim at understanding client needs so services or items sold meet them more directly - producing eager buyers along the way.
