Topic: BusinessManagement

Last updated: March 15, 2019

As it origins indicates, marketing was first referred as a strictly business discipline principally for profit-oriented purposes (today referred as traditional marketing), built though business activities and processes (American Marketing Association 1985 in Hunt p.8) for the greatest purpose of “market transaction” (Luck 1969 in Hunt 2010 p.8-9) involving the exchange of money, goods and/or services between a producer/seller and consumer/buyer (Hunt and Zalman 1972 p.4).Today, marketing is preferable referred as professional discipline (Hunt 2010 p.54) by cause that marketing had been observed to be practiced and beneficial as well for nonbusiness/nonprofit oriented organizations (Kotler and Levy 1969 in Hunt 2010 p.8), thus, marketing could no longer be recognized through solely activities of transportation, buying and selling (Lavidge 1970 in Hunt 2010 p.

9). Yet even if its core essence remained as an “exchange process” (Kotler and Zaltman 1971 p.4; Newman 1993 p.8) it could no longer be definite to “market transaction” but rather as “transaction” of a “general idea of exchange” (Kotler and Levy 1969 in Hunt 2010 p.9) of “values”, “concerned with how transactions are created, stimulated, facilitated, and valued” (Kotler 1972 in Hunt 2010 p.

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9-10). Thus, emerged the concept of marketing management (Kotler and Zaltman 1972 p.4), grounding marketing’s new purpose to satisfy both exchanged parties (Kotler and Zaltman 1972 p.

4, Ludicke 2006 p.8, Baker and Saren 2010 p.3) and modifying marketing essence as “the establishment of mutually satisfying exchange relationships” (Baker and Saren 2010 p.3). It outcome is possibly achievable through separate but closely related practices, components and occupations (identified today likewise as professions) that marketing’s profession envelopes such as; pricing, sales management, distribution, retailing, advertising, market research, wholesale management, distribution management, marketing management, retail management (O’Shaughnessy 1990 p.

3; hunt 2010 p.55).


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