In any commercial organization, marketing is the bedrock of business. Though in the last few years, we have seen that marketing is being embraced even in non-commercial organizations like Churches, Schools, professional Training Centres, Hospitals, professional firms etc, but not in all cases are people practicing what is known as marketing. Marketing started from early man.
The Institute of Marketing defined marketing as: “The management function which organizes and directs all those business activities involved in assessing and converting customer purchasing power into effective demand for a specific product or service, and in moving the product or service to the final consumer or user so as to achieve the profit target or other objectives set by the company.”
The consumer is the ultimate in marketing. The consumer is the customer; he is the one that justifies all efforts of production. Without the customer, organizations are not in business. If consumers are not satisfied, they will not buy the product. Products may be tangible and intangible. As much as it is important be satisfying the consumer, that is the customer, it is also important that the company should be making profit from the whole deal since it is not offering a social service.
Organizations, should embrace the concept by Hung Davidson. In his book titled ‘Offensive Marketing’, he says offensive marketing “obliges a company to innovate continually, to plan what is best for number one, rather than following competition, and to respond to competitors’ moves by counterattack, not by imitation”. In its ideal form, it is profitable, offensive, integrated, strategic and effectively executed. At the risk of gimmickry, but in the greater course of good reader, recall that these five aspects can be summarized by the word; P-O-I-S-E:
‘P for profitable: proper balance between firms’ and consumers’ needs;
‘O for offensive: must lead market and make competitors followers;
‘I for integrated; marketing approach must permeate the whole company;
‘S for strategic: action related to long and short-term strategic plan;
‘E for effectively executed: speaks for itself.
“Marketing involves balancing the company, the integration of the organization and an exchange between the company and the consumer which is mutual. Because firms are offering services, the customer must pay for the services.