MKTG 3rd Canadian Edition by Charles W. Lamb

MKTG 3rd Canadian Edition by Charles W. Lamb

By: Charles W. Lamb

Publisher: Nelson

Print ISBN: 9780176530914, 0176530916

eText ISBN: 9780176715694, 017671569X

Edition: 3rd

WHAT IS MARKETING?

Marketing is a word that elicits much opinion and discussion. It is often defined by

what it is not rather than by what it actually is. Marketing is one of the most misused

words in business today. It is often reduced to a few words that are attached

to the activities of marketing: sales, advertising, and promotion.

Sometimes marketing is seemingly written off entirely: “Marketing is dead.”

Kevin Roberts, CEO of Saatchi & Saatchi (top advertising agency)2

Could this be true? Do we not need to worry about marketing anymore? Far

from it. Without marketing, there is no customer. Most departments in a firmwhether

accounting or finance or operations are internally focused on achieving

goals related to their functional area. Marketing’s sole focus is on the customer and

understanding what makes them tick. Without marketing to identify a customer to

create revenues and profit, there is no need for an accounting department or manufacturing

facility.