Changes Affecting Marketing Business & Marketing Essay (Essay Sample)
DescriPTION the changes that have affected Marketing in the past years.source..
Changes Affecting Marketing
Name of the Professor
Marketing can be defined as a management process in which products (goods and services) move to the customer from concept. This process entails product identification, demand determination, price decisions, as well as distribution channels’ selection (Brunswick, 2014).
Marketing involves determining what customers require and the possibility of producing it at the correct price. After these determinations, a company or a firm can go ahead, make the product, and sell it. Marketing covers various business areas. Some of these areas are; branding, designing, market research, communication means, effectiveness measurement, consumer psychology, and pricing (Liu, 2017).
Understanding what consumers value and require is key in marketing. Understanding the needs of customers by a company determines its long-term success. When a company has understood what the needs of customers are, it is then able, through various approaches, to add value (Lamb et al., 2011).
History of marketing
Compared to other business areas like accounting, economics, production, and operations, marketing is viewed as a young business discipline following its emergence in the early 1900s. Marketing's development was largely motivated by the desire to dissect in detail the relationship as well as behaviors between buyers and sellers. The study of marketing, in particular, enabled sellers to realize that through the adoption of some tactics and strategies, their relationship with buyers could greatly benefit.
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