Marketing for American Marketing Association- myassignmenthelp

Question: Discuss about theMarketing for American Marketing Association. Answer: Key concepts According to American marketing association (AMA), marketing is tasks set of organizations and processes for developing, communicating, delivering and exchanging offerings which are worth to clients, society and customers. In addition, the United Kingdom Chartered Institute of management (CIM) terms marketing as the process of management meant for identifying, anticipating and meeting the needs of the customers. AMA and CIM have a different views on the definition of the customer. AMA termed it as the final consumer or user of the products and services,. Also, it is defined as decision market of the buyer or the prospective purchaser. Buying center is also a term understood from the definition of customer and has use organizational buying behavior theory to address the industrial customers. The buying center has role such as being influencers, gatekeepers, buyers, and users (Kotler and Keller (2012, p.188) In regards to consumer and business markets, Kotler and Keller (2012) pointed out that business markets have fewer and larger buyers. It also has closer customer-supplier associations and localized and concentrated buyers. AMA defines business to consumer as a business which markets it goods and services to buyers and business to business is the type of businesses which market their services and products to other businesses. However other terms with the same manner of description are government to business and government to consumers. In an aim to show more ways which businesses can be associated, there was development of a more complex business relation called B2B2B2B2B2C! Business can be about the relationship between parties and individuals contrary to what B2C and B2B. There were lots of literature developed by marketing academia during the early 1990s. Emphasis was put on developing customer relationships and loyalty. The development of customer relationship management CRM technology flanked this literature development. It assisted in storing, manipulation and analyzing lots of data. Different studies were also developed regarding relations marketing for instance (such as Geddie et al., 2005; Leung et al., 2005; and Wan and Ng, 2013) which came up with other types of relations and also compared with relationship marketing. Literature defines marketing orientation as ways in which firm views and acts towards consumers and marketplace. In addition, market orientation is a firm-wide creation of the intelligence of market to current and even future requirements (Kotler et al., 2014). Lots of studies have come up with the difference between superior business performance and market orientation and they have concluded there is a relationship between marketing orientation and its achievements in the marketplace. Studies also show that marketing concepts essentially is the philosophy of the business. There is also need for business to change their ideas and focus on satisfying customers. This is done via producing products which suites demands of customers. Marketing is a process of exchange because it involves satisfying needs of the customer in exchange monetary payment. This can be well understood by theories such as social exchange theory. The theory has been well used to explore different types of transactions which could show such relationships. Reference list American Marketing Association (2014) Dictionary. Available from: https://www.ama.org/resources/Pages/Dictionary.aspx?dLetter=D (Accessed: 9 July 2014). Jaworski, B.J. and Kohli, A.K., 2017. Conducting field-based, discovery-oriented research: Lessons from our market orientation research experience.AMS Review, pp.1-9. Kotler, P., Keller, K.L., Ancarani, F. and Costabile, M., 2014.Marketing management 14/e. Pearson. The Chartered Institute of Marketing. (2009) Marketing and the 7Ps: a brief summary of marketing and how it works CIM Insights, pp.1-9. Available from: https://www.cim.co.uk/files/7ps.pdf (Accessed 11 July, 2014)