Assessment 2: Individual Assessment Part 1 Marketing has been defined in many ways throughout the years.

But there are some definitions which can be used to represent marketing in todays business society. Kotler, Adam, Denize & Armstrong (2008) defines marketing as an activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have values for customers, clients, partners and society at large (pg7). This definition of marketing outlines the whole concept of marketing while also demonstrating its many roles in current business strategies. Its concept applies to the present marketing process and the techniques applied to achieve its role in the business world. The definition can be applied to all areas of marketing in business. The definition regards marketing as a concept which fits todays environment. Oxford Dictionary defines marketing as, The process of planning and executing the conception, pricing, promotion and distribution of ideas, products, and services to create exchanges that will satisfy the needs of individuals and organizations. The definition outlines the process of marketing while also stating the marketing strategies which are created to meet the demands and requirements of both consumers and businesses. This term is relevant to the current role of marketing while also demonstrating the strategies applied to the marketing process in order to achieve its goals satisfying the needs of consumers. This reference best reflects the concept of marketing in todays environment.

Kotler (1969) believes marketing involves product development, pricing, distribution, and communication; and in the more progressive firm, continuous attention to the changing needs of customers and the development of new products, with product modifications and services to meet these needs. (Broadening the Concept of Marketing, Vol.83 pp.10-15). This reference clearly reflects the concept of marketing in current businesses. It considers all aspects of the marketing process (e.g. pricing, distribution) while also outlining the reason for marketing identifying the needs of consumers. This definition not only exhibits current societies view of marketing but it best defines marketing as a business role within organisations. The Chartered Institute of Marketing website identifies marketing as The management process responsible for identifying, anticipating and satisfying customer requirements profitably. This definition outlines marketing as a process included in business and considers its relation to satisfying consumer needs with gaining profit. The definition conveys the business aspect of the term while also considering the customers role in marketing. 1

However, the reference is too general and does not define marketing as a whole process, the use of terms such as anticipating and identifying does not explain the use of techniques such as communication and research in order to satisfy the consumers needs. Kotler (1986) recognises Marketing as an integrated function of business concerned with the entire process of developing and distributing products to satisfy consumer wants. This definition cannot be considered for this environment of marketing because it is too brief, but does relate to marketing in todays business world. It associates marketing to satisfying a customers wants yet regards marketing as a whole process rather than one with basic individual components that creates the whole process of marketing. The terms developing and distributing are not the only steps in the marketing process and not the only elements which a business uses. These terms only give a summarised understanding of what marketing really is. For that reason, this definition does not reflect the current concept of marketing in todays environment.

Therefore, through the opinions/definitions of marketing regarded in this analysis, it is believed the best opinion which reflects the concept of marketing on todays environment to be the Kotler, P. & Levy, S.J. (1969) definition. Its definition best outlines the role of marketing in todays business society while also summarizing the many different types of marketing which make it a process in the business world. This reference also understands the concept of marketing which is used at present. An example to illustrate this definition would be the McDonalds Heart Tick Menu, which has been developed according to the consumer demand of healthy meal choices at fast-food joints for a considerable price. Through continuous attention to customer needs the Heart Tick Menu was developed to provide a meal of nutritional value as well as affordable prices. McDonalds paid close attention to the requirements of the consumer and then came up with a product to suit the changing needs of the customer.

References: A Dictionary of Business and Management, (2009) Oxford Reference Online. Oxford University Press. Barksdale, H.C & Barden, B. (1986) Journal of Marketing: Marketers Attitudes Toward the Marketing Concept. [Online] Vol.35 (October Ed.) pp. 29. Available from: http://ea3se7mz8x.search.serialssolutions.com.ezproxy.uws.edu.au/directLink? &atitle=MARKETERS%20ATTITUDE%20TOWARD%20THE%20MARKETINGCONCEPT&author=BARKSDALE%2C%20HIRAM%3B%20DARDEN%2C %20BILL&issn=00222429&title=Journal%20of %20Marketing&volume=35&issue=4&date=19711001&spage=29&id=doi:&sid=ProQ _ss&genre=article&lang=en [Accessed 13/03/2010] Kotler, P.; Adam, S.; Denize, S.; and Armstrong, G. (2008) Principles of Marketing 4e, Pearson Australia. Kotler, P. & Levy, S.J. (1969). Journal of Marketing: Broadening the Concept of Marketing. [Online] Vol.83 (January Ed.) p.10-15. Available from: http://www.jstor.org/pss/1248740 [Accessed 09/03/2010] The Chartered Institute of Marketing (2010). UKs Chartered Institute of Marketing. [Online]. Available from: http://www.cim.co.uk/resources/understandingmarket/definitionmkting.aspx [Accessed: 9 March 2010]