Marketing is recognizes as a process. The process involves planning and implementation of the marketing activities, such as conception, pricing, promotion and distribution of products (ideas, goods and services). These marketing activities are undertaken to create exchanges that meet individual and organizational goals. The individual goals include satisfaction and utility from the product. The organizational goals include profit and long term survival of the organization.
In the view of William J. Stanton, marketing as a dynamic integrated process. In his views marketing as a managerial system involving the marketing activities of planning, pricing, promoting and distributing of want satisfying products to target markets. The activities are undertaken to meet the organizational goals. Stanton has further emphasized on two more aspects of marketing. First, the entire system of business activities should be market of customer-oriented. Customer wants must be recognized and satisfied effectively. Second, marketing should not end until the customers' wants are completely satisfied, which may be sometime after the exchange is made.
In the views of William M. Pride and O.C. Ferrell, marketing is viewed as a diverse group of activities directed at various products and performed within many types of organizations. The activities are performed individually of institutionally by customers, producers and intermediaries. Besides business organizations, social, religious and political organizations also perform marketing activities. Marketing is executed through the mutually satisfying exchange process. Marketing has to perform in a dynamic environment. The various forces affecting marketing, such as laws, economy, technology, socio-culture are all dynamic.
In the view of William J. Stanton, marketing as a dynamic integrated process. In his views marketing as a managerial system involving the marketing activities of planning, pricing, promoting and distributing of want satisfying products to target markets. The activities are undertaken to meet the organizational goals. Stanton has further emphasized on two more aspects of marketing. First, the entire system of business activities should be market of customer-oriented. Customer wants must be recognized and satisfied effectively. Second, marketing should not end until the customers' wants are completely satisfied, which may be sometime after the exchange is made.
In the views of William M. Pride and O.C. Ferrell, marketing is viewed as a diverse group of activities directed at various products and performed within many types of organizations. The activities are performed individually of institutionally by customers, producers and intermediaries. Besides business organizations, social, religious and political organizations also perform marketing activities. Marketing is executed through the mutually satisfying exchange process. Marketing has to perform in a dynamic environment. The various forces affecting marketing, such as laws, economy, technology, socio-culture are all dynamic.
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