Marketing in New Economy

Marketing in New Economy has become a very important topic nowadays. The extract for this summary is taken from the book “Marketing strategy” by Ferrell and Hartline. To begin with, all organizations need effective planning and a sound marketing strategy to achieve their goals and aims. Without these efforts, organizations will not be able to satisfy the needs and wants of customers. It is very important for every organization to develop marketing strategies. Now basic marketing concepts will be introduced, but firstly the concept of marketing will be explained. Marketing is many different things. Many people, especially those not employed in marketing, see marketing as a function of business. As a business function, the aim of marketing is to connect the organizations to its customers. Other people see marketing as a process of managing the flow of products. A final way to think about marketing relates to meeting human and social needs. The examples of marketing activities can be buying cars from Korea and wines from South Africa.
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