Strategic marketing planning

Abstract

Marketing has been defined by various experts. The American Marketing Association (AMA) views it as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumer needs and organizational goals. Peter Drucker defines it as a “doing tendency,” while Philip Kotler sees marketing as a way to profitably satisfy needs. Stanton points out that marketing consists of activities designed to generate and facilitate exchanges to satisfy human or organizational needs or desires. For marketing to function as a social process, it must identify needs, define market segments, create a competitive advantage, and maintain it by manipulating the elements of the marketing mix.