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Modern Marketing Functions

Marketing is traditionally viewed as a business activity focused on satisfying human needs through the delivery of goods and services. However, marketing also plays an essential role in allocating resources through supply and demand interactions in economic systems. While business aspects are important, marketing also occurs in non-profit organizations and affects everyone's welfare through important decisions. Marketing serves important roles by developing satisfying customer relationships that benefit both customers and organizations, and is a vital business function for most organizations, whether for-profit or non-profit.

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43 views7 pages

Modern Marketing Functions

Marketing is traditionally viewed as a business activity focused on satisfying human needs through the delivery of goods and services. However, marketing also plays an essential role in allocating resources through supply and demand interactions in economic systems. While business aspects are important, marketing also occurs in non-profit organizations and affects everyone's welfare through important decisions. Marketing serves important roles by developing satisfying customer relationships that benefit both customers and organizations, and is a vital business function for most organizations, whether for-profit or non-profit.

Uploaded by

tekley
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MODERN MARKETING FUNCTIONS

Marketing has been viewed traditionally as a business activity.


Business organizations exist to satisfy human needs, especially
material needs. Consequently, one way to define marketing is from the
business perspective. For instance, marketing has been defined as
the delivery of a higher standard of living.
Because marketing activities bring about exchanges, marketing is an
essential function in an economic system. In a free-enterprise
economy, resources are allocated by the interaction of supply and
demand in the marketplace. Marketing activities and institutions
provide the framework and mechanisms for this interaction and the
exchange taking place.
Although the business aspects of marketing are important, businessoriented definitions of marketing have been challenged. Critics
observe that marketing involves a wide range of activities and

organizations and should be viewed from a broader perspective.


These critics point out that marketing takes place in not-for-profit
organizations, such as hospitals, universities, and social and
government agencies. New applications of marketing are further
evidence of its growing importance in our society. Any definition must
recognize that marketing is a fundamental human activity and that
marketing decisions affect everyones welfare.

As weve seen the key objective of an organizations marketing efforts is to develop satisfying
relationships with customers that benefit both the customer and the organization. These efforts
lead marketing to serve an important role within most organizations and within society.
At the organizational level, marketing is a vital business function that is necessary in nearly all
industries whether the organization operates as a for-profit or as a not-for-profit. For the forprofit organization, marketing is responsible for most tasks that bring revenue and, hopefully,
profits to an organization. For the not-for-profit organization, marketing is responsible for
attracting customers needed to support the not-for-profits mission, such as raising donations or
supporting a cause. For both types of organizations, it is unlikely they can survive without a
strong marketing effort.
Marketing is also the organizational business area that interacts most frequently with the public
and, consequently, what the public knows about an organization is determined by their
interactions with marketers. For example, customers may believe a company is dynamic and
creative based on its advertising message.

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