MARKETING-WPS Office.doc - MARKETING Origin Marketing is...

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MARKETING Origin Marketing is the buying and selling of goods. It originated 3000years ago during the error of the Titanic whereby, barter had the inconvenience of requiring a double coincidence of wants; If Jim had an extra copy of "Titanic", but needed "Kill Bill", he needed to find someone who not only had a spare copy of "Kill Bill", but also needed "Titanic". What was required was something that could be used to “store” value – Jim could then exchange titanic with the first person who came along and wanted it for a “credit”; andthen whenever he found someone willing to part with Kill Bill he could transfer the stored values. Aristotle (around 2400 years ago) thought (essentially) that marketers were useless parasites. We still hear echoes of this thought today when peoplespeak of pushy salespersons, telemarketers and large advertising budgets that translate into higher costs for consumers. Early 20th century when marketing role in creating utility and providing satisfaction begins to be better understood. Robert Bartels (History of Marketing Thought) places the first use of the term "Marketing" to "about 1910". Finally in about the 1950's the concept of Marketing Management evolved - again more on that later. Definition: Marketing (America Marketing Association AMA 1937) Marketing is the business activities involved in the flow of goods and services from production to consumption.This definition focusses on the ‘Place” or distribution function of Marketing and not much else. Definition: Marketing (AMA 1985) 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 objectives.

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