Marketing is The management process of anticipating, identifying and Essay - 1

Marketing is The management process of anticipating, identifying and satisfying customer requirements returnsably (CIM, 2001) - Essay ExampleIt involves formulation and communication of info that can generate service program to antithetical stakeholders to a subject entity and such stakeholders may be customers, business associates, the community, and contractual parties to an institutions activities. In addition, the scope of the interpretation of marketing identifies a dual approach to information canalize between an entity and its stakeholders (Taylor 2010, p. 152).This definition is valid because it identifies with the American Marketing Associations (AMAs) definition. The CIMs definition of marketing focuses on customers utility and cheeks profitability. Even though the AMAs definition does not focus on profit motive for organizations engagement in marketing, this is trivial from the scope of corporate ventures that profit motive drives. Such a scope validates CIMs defin ition of marketing as a strategy to profit optimization by business organization and is consistent with organizations initiatives for efficiencies and effectiveness that can results to low production costs for higher profit margins and economies of scale advantage. CIM also identifies customer utility as a driver to marketing initiative and this is automatic of the definition of marketing according to AMA. According to AMA, the focus of marketing is to meet customers needs, at individual and social levels. The CIMs definition of marketing also identifies, though not directly, associated activities with marketing that AMA outlines. Anticipating and identifying customers needs, for example, involves exploration of background information into customers needs for creation of information or commodities while satisfying such needs relates to communication and transfer of utilities for customers satisfaction. CIMs definition is further consistent with AMAs previous definitions of marketi ng that that identified focus on business undertakings and development of values for