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The two most commonly quoted definitions of marketing are:
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‘Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements efficiently and profitably.’
Chartered Institute of Marketing's Definition
and
‘Marketing is the human activity directed at satisfying needs and wants through an exchange process.’
Principles of Marketing by Philip Kotler
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By combining these definitions we begin to appreciate that marketing is not just about 'selling' products and services. Marketing encompasses a far wider range of activities, and in reality is performed not just by businesses, but by all of us.
From a Business Studies perspective we tend to focus on those activities performed by businesses in finding and satisfying customers. Each examboard divides the study of marketing into a number of elements, as shown in table 1.
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Market Analysis
Marketing Strategy
Marketing Planning
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AS
The Market, its Definition and Structure
Market Research and Analysis
Marketing Planning
A2
The Market
Market Planning
Market Research
Marketing Planning
Models of Marketing
The Marketing Mix
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Nature and role of marketing
Market research
Product
Pricing promotion and place
Marketing planning
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Nature and role of marketing
Market research
The marketing plan
Forecasting
International marketing
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Whilst it may initially appear that each examboard breaks down the study of marketing differently, on closer inspection we find that all the major examboards consider
- The nature and role of marketing
- Market Analysis and Research
- Marketing Planning
- Marketing Strategy
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