Business School Matters
Understanding Management
Marketing
According to Peter Drucker, the aim of marketing is to make selling
superfluous. 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. One of the major
functions of marketing is to create an environment for exchange. An exchange
arises when one person gives something of value, in return for something of
value from another person.
Marketing has evolved through the ages. Starting with focus on mass production,
marketing has reached a stage where companies have to position their goods and
services in a socially responsible manner to generate sustainable profits.
Marketing aims at bringing about congruence between the product, its promotion,
its price and the channels through with it reaches the customer. Blending these
four elements in an optimal manner is expected to generate a positive response
from the target consumer.
Marketing in Action
Spot This: They Want You
The Indian Defense Ministry released a mix of advertisements both in the print media and the electronic media to attract the youth of the country to serve the motherland.
Spot This: They Want You Contd... »
Adapted from Gupta, Ritesh "Spot This: They Want You," Ad Age Global,
July 2002, Vol. 2, Issue 11.