Chapter 6 Marketing to Create Value
Published: January 2016
Component type: chapter
Published in: Enterprise and its Business Environment
Parent DOI: 10.23912/978-1-910158-78-4-2852
Entrepreneurs generally feel enthusiastic when discussing their product or service idea but less comfortable when asked about their marketing approach. Marketing can suggest advertising, selling or tricks to influence people to buy things that they do not need, at a price they perhaps cannot afford. Marketing does include advertising and selling, but it is not about manipulating customers. Fifty years ago the Chartered Institute of Marketing defined marketing as “the management process responsible for identifying, anticipating and satisfying customer requirements profitably” (CIM, 2007). It is both a way of thinking about and a function within business – an activity and a way of thinking. It is the part of an enterprise that thinks about the customer first; by taking a customer-centric view it better understands needs and wants. It can then actively use the resources available to provide the very best value goods and services and develop a long-term relationship with existing and potential customers. For many smaller businesses marketing can seem to be an expensive luxury but this chapter will consider how any new enterprise will benefit from both the ideas and actions of marketing.
- Geraldine McKay (Author)
For the source title:
- Norin Arshed, Heriot-Watt University (Editor) http://orcid.org/0000-0002-6775-1840
- Julie McFarlane, Heriot-Watt University (Editor) http://orcid.org/0000-0002-2612-9836
- Robert MacIntosh, Heriot-Watt University (Editor) http://orcid.org/0000-0001-7333-0201
McKay, G. (2016) "Chapter 6 Marketing to Create Value" In: Arshed, N., McFarlane, J. & MacIntosh, R. (ed) . Oxford: Goodfellow Publishers http://dx.doi.org/10.23912/978-1-910158-78-4-2916
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