Chapter 1: Marketing’s Value to Consumers, Firms, and Society
Most of the time we don’t realize when we encounter the idea of “marketing” because it’s become second nature. Chapter 1 of “Essentials of Marketing” attempts to define marketing on a more personal level. We use marketing as a part of our everyday lives; the places we shop, the electronics we use, the goods and services we buy, and even our interactions with other people. Professor Gentry defined marketing as “providing people with what they want for perceived mutual benefit”, which realistically most of us do during the course of the day. With the understanding that “marketing” circulates our everyday lives, the key characteristics are important in order for an organization to market successfully. If you take a look at “Apple” and their methods on marketing, you begin to see the parallel with the overall success and continuous growth of the organization. Apple markets their products not only by advertising, but also through the satisfied customers that market through word of mouth. This chapter emphasizes that “marketing isn’t just selling and advertising”, but instead aiming to maintain satisfied customers by meeting or exceeding their expectations.