Free Sample: Defining Marketing paper example for writing essay

Defining Marketing - Essay Example

The founder of the company Konosuke Matsushita began the journey in 1918 by inventing a two-socket light fixture. Profound in its import yet elegantly simple, Konosuke Matsushita’s breakthrough led to what is now one of the world’s largest electronics companies. As he built Matsushita Electric Industrial Co. , Ltd. , he never lost sight of the importance of putting the needs of his customers and the public first. Panasonic will continue its Customer First tradition of creating new products that resolve the challenges in business and personal life, helping us all enjoy more of what life has to offer.

The name Panasonic is synonymous with innovation, quality, performance and ease of use. Oman National Electronics, a part of the Al-Futtaim Group – one of the most diversified trading houses in the lower Gulf, is the sole distributor for Matsushita Electric Industrial Co. Ltd. Japan. With six branches employing over 250 people and a UAE-wide distribution network of over 400 dealers, it has helped the brand to establish a unique niche and enjoy a pre-eminent position in a highly competitive market.

Oman National Electronics’ association with Matsushita, dates back to the year 1971, when the UAE was a very small market and trade very traditional. This partnership has evolved over the last 30 years and continues to grow from strength to strength. In these 30 years, they have seen a dramatic change in the UAE. Growing markets, changing lifestyles and a vibrant trading activity has always thrown up new challenges, and they have successfully lived up to these by creating value through change. In these 30 years, they have continuously reviewed their business practices and set new standards.

This can be well illustrated by the fact that Panasonic enjoys prominent awareness and visibility through Oman National Electronics’ large network of dealers. From the smallest grocery store, to souks, shopping malls and hypermarkets, you are likely to see a Matsushita product. Today, with a fully networked inventory management system operating on SAP, and centralized service operations (CSO), it not only provides excellent logistic support to its dealers, but also complete after-sales support to its consumers. A literature review gives researcher knowledge of the works already conducted on the subject.

It will give me guidelines and will help me in conducting the research properly. It helps to understand the topic better. Marketing is one of the most powerful tools used by organizations in their struggle for survival and growth. There are varying views on marketing. Many authors have given different definitions for marketing. However the main purpose of marketing is identifying a certain group of people and then marketing a product for them, which satisfy their needs. Marketing is one of the most powerful tools used by organizations in their struggle for survival and growth.

There are varying views on marketing. Many authors have given different definitions for marketing. However the main purpose of marketing is identifying a certain group of people and then marketing a product for them, which satisfy their needs. The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals, organizations, and society. Marketing is the management process responsible for identifying, anticipating and satisfying consumer’s requirements profitably.

A rather different definition has been developed by the American Marketing Association (AMA): Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. 4 The above two definitions are widely accepted by academics and marketing managers. They emphasize that marketing focuses on planning and executing activities to satisfy the demands of the customer. The definitions are broad enough to indicate that marketing can occur in non-business organizations.

An organization must be in tune with consumers needs. They must adapt to changing environments and meet competitive threats to prevent loss of market share, stagnation and bankruptcy. The belief that satisfying customers can achieve organizational goals has gained so much importance among managers that it is now known as the marketing concept. According to the marketing concept, an organization must try to provide products that satisfy the needs of the customers through a coordinated set of activities that also allows the organization to achieve its objectives. The major aim of the marketing concept is customer satisfaction.