Marketing

Synopsis

Marketing is pivotal in today's world. Used for determining and satisfying the needs of the customer, it stands at the interface between an organization and its environment. Marketing provides customer and competitor information to the organization, as well as creating awareness of the company's offering. As globalization creates increasing challenges to established marketing practices, marketing efforts need to reposition and adapt continuously to maintain an organization's ability to reach potential customers.This Very Short Introduction provides a general overview of the function and importance of marketing to modern organizations. Kenneth Le Meunier-FitzHugh discusses how marketing remains central to creating competitive advantage, and why it needs to be forward looking and constantly reinventing itself in line with new developments in the marketplace, such as the growth of social media, and the importance of ethics and responsible marketing. He shows how this has led to the role of marketing expanding beyond advertising and promotion, encompassing a broader sense of customer relationship management. He also considers how marketers need to remain able to manage the marketing mix in response to their understanding of customer's purchasing habits.