Marketing and Marketing Theories Assignment

MARKETING AND
MARKETING
THEORIES

Table of Contents
CHAPTER 2 : LITERATURE REVIEW........................................................................................1
2.1 Definition of marketing ........................................................................................................1
2.2 Marketing history and theory of marketing .........................................................................2
2.3 Digital marketing and communication channels...................................................................6
2.4 Critical analysation of the Digital Marketing strategy..........................................................7
2.5 Critically analyzing the Digital Marketing Communication Mix.........................................9
REFERENCES..............................................................................................................................14

CHAPTER 2 : LITERATURE REVIEW
2.1 Definition of marketing
According to Palmer, (2012), marketing is considered as a significant function that
consists analyzing and presenting the features to satisfy the needs of consumers. As per the view
of MacInnis, (2011), it is a significant process which is followed by a firm to achieve the sales
revenue by identifying the target customers for their products. From the view of Baker and
Saren, (2016), it is also considered as development of sustainable relationship with customers so
that organizations can develop and increase the promotion of goods and services. According to
Freng and et.al., (2011), it is also considered as an umbrella which involves appropriate research,
branding, analyzing demand, promotion and generation of extreme loyalty among the people.
As per the views of (Brunswick, 2014.) marketing is defined as a study of management
and relationship exchange. It is the concept through which good and products are moved to
consumers. It is an activity and process of communication by which clients and customers are
concerted to business. It is used to for making connection and providing customer satisfaction.
(Sheth and Sisodia, 2015)states that marketing is associated with selling and buying of goods and
services. It is the technique to get consumer attraction by making product design ad packaging
attractive. It consists all the activities which is done by organisations to maintain relationship
with target people (Nkamnebe, 2011). It is the process by which companies identify the needs
and expectations of people consuming their service. Determining these requirements support
organisations in making improvements in their products. According to (Cooke, 2015)marketing
is procedure by which companies try to improve their consumer base. It is the best approach for
increasing market share and value in target market. It also provides businesses a platform to
make innovation in the existing product (Hunt, 2014). In the concept of marketing first step by
companies is to determine product which is required by the consumers. Second step is to identify
the price of the product selected. Finding out the best channel for distributing this product is the
third step. In the last step promotional strategy is determined by organisations.
Marketing institute defines that marketing is the procedure anticipating requirements of
the target public (Armstrong and et.al., 2015). It is a creative sector which involves advertising,
promotional campaigns, distribution and product selling. In depth study of marketing states that
it includes sociology, mathematics of market and economics to find out the strategy of marketing
(Burnett, 2015) argues that marketing is a strategy of the business concerns to gain values and
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make brans image in the global market. According to (Layton, 2015) marketing creates
overwhelming experiences that are used to connect people personally and makes the want to
share with others.
As per the views of (Nedbalová, Greenacre and Schulz, 2014)marketing functions
involves many things to wit consumer rather than the service provider. It is constituently
involves with external communication in encouraging goals and objectives of the organisation. It
is the process of accelerating returns of the organisation (Dixon-Todd and Hall, 2017) asserts
that marketing includes branding, naming, pricing and making a bridge between consumer and
media. In contrast to that it is the way to help consumer in buying goods and services of the
enterprises.
Author (Dolnicar and Ring, 2014.) States that marketing should be transmission agnostic and
focused on consumers. It gives results which are measurable. These outcomes describe the
market and consumer needs. From the above definition it can be analysed that marketing is the
style in which good and services are offered to consumers. It is base on thinking of how
consumers needs are satisfied by the organisations. It is different form selling because selling is
associated with approaches of exchanging product of the fir b getting money.
2.2 Marketing history and theory of marketing
History of marketing
According to Mela, Roos and Deng, (2013), marketing is considered as old concept
which has come in to existence at the time industrial revolution with vast development and
amendments in the ways of business. It has been evolved from the past orientation which are
determined as production, product and selling concept. As per the view of Hunt, (2015),
history of marketing has been considered from the different era which have taken place in wide
revolution of industries in trade and commerceAccording to Tadajewski, (2012), era of
industrial revolution has changed the ways of manufacturing and marketing of goods for the
consumers.
As per the views of (Tedlow, 2014) history of marketing is supports companies in
determining the baseline on which changes are recognized. Marketing word is derived from
Latin term “mercatus “which means merchant. In the early 1900's marketing was concerned with
economics, production and various operations in the business world. It is a very young
discipline, earlier which was based on economics and advertising of product and services.
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Marketing practices has been illustrated as millennia, but the word marketing is used to explain
activities which are buying and selling of goods. According to (Jones and Morgan, eds.,
2014)these terms came into the effect in 19th centuries. History of marketing is a theoretical field
which was appeared in the early 20th century. In 20th century economies in western countries
were categorised by suppliers of smaller regions who used to sell goods in local basis.
As per the author (Thompson, Ed, 2015) history of marketing practices cites to research
for finding the approaches in which marketing has been practice.It is the process by which
companies identify the needs and expectations of people consuming their service (The Evolution
of Marketing, 2017). Determining these requirements support organisations in making
improvements in their products. It also defines how these patterns of marketing has been evolved
over the years due to rapidly changing socio economic situations (Fırat and Tadajewski, 2010).
On the other hand marketing history is and analysation of the techniques by which marketing is
learned and understood. According to (Burnett, 2015.) production ways until the 1950s were
very different from the methods which are used nowadays. Earlier firms used to focus on product
placement and producing according to the requirements. Production orientation was
implemented only when there was high need of goods and services. In the year 1960 the
marketing evolution was a mastermind work in the survey of marketing history.
Author (Zainuddin and Gordon, 2014) asserts that word marketing first came in the
dictionaries made in 16th C. in this time period marketing was defined as procedure of purchasing
and selling of products and services. Modern day definition contrast is by referring it as
movement of product from producer to customer. This explanation accents more on advertising
and sales. Advertising term was first seen in the year 1897. Marketing history consist of two
parts which are marketing practices history and history of marketing. Both of these parts have
distinct bases. Chronicle of marketing practice has base of study of administration and
marketing. Whereas the marketing history is based on history of culture and economy. Both of
them contains very different kind of research questions and distinct tools are used by them. As
per the view (Cooke, 2015) its history undertook reckons research into beginning of
merchandising. Author (Dolnicar and Ring, 2014)argues that practices of marketing could be
found in historic period. On the other hand other author propose that marketing in its current
form appeared in rise of culture of consumer in 19th century. In contrast to that various other
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surveys declares that contemporary marketing was recognized fully in the periods following the
revolution in industry.
History of marketing also describes that earlier in the 1960's organisation concerns
quality of product in product orientation. As per the views of (Jones and Morgan, eds., 2014)firm
used to assume that quality is associated only with high standards i.e. as long as goods are of
high quality consumers will buy if for sure. In the middle ages of marketing some authors have
suggested that term is used to explain market towns. This word was only concerned with carting
and dealing goods in market wares. According to (Jones and Morgan, eds., 2014) earlier
networks in towns of market were focused on smaller regions. In the 15th century small region
markets were used to be held thrice in month whereas popularity of daily markets was more. As
the time went on enduring shops started opening daily.
In the 19th century marketing practices in United Kingdom were identified. Companies
have started finding new ways of promoting to increase their business concerns. Each
organisation carried out conventional and unconventional surveys on making decision for
trading. As per the author (Layton, 2015)in 20th century economies in western countries were
categorised by suppliers of smaller regions who used to sell goods in local basis. In the start of
20th century size of the market was increased and it was public place for product business
organisations to make variety of products by pitching quality of them. As the industry is
growing demand for skilled business persons is also growing. In order to cope up with this
demand organisations need to learn to market economics (Thompson, ed., 2015 ). It can be
analysed that history of marketing is a thought which is concerned with marketing rise and the
style that it is studied.
Theory of marketing
There are various theories of marketing out of which two are as follows:
The marketing mix theory
Marketing mix is an approach used by businesses to identify the product and offerings of
brand. This was a foundation and key model which consist of basic four components which a
firm has to consider for accomplishing the vision of business (Mason, Kjellberg and Hagberg,
2015). It is considered as set of tools and marketing elements that are used by industries or firms
to achieve its objectives of marketing in selected market. It is also recognised as a process which
is used by modern organization to promote their products and achieve the targeted customers
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