The Webster's definition of marketing is " (1) The act or process of buying and selling in a market. (2) The commercial functions involved in transferring goods from producer to consumer." The comprehension of the functionality and need for marketing is a good starting point in understanding what's the purpose and how it interrelates in an economy and enhances consumer awareness. If one has a good understanding of future trends, then a person should be able to have better knowledge (than the competitor) about customer wants and needs, one can develop a new and better way to approach the market.
The individual that I interviewed for this study is an executive for AT&T that has well over 10 years marketing experience in many various business environments. The importance of selling involves understanding the background, foundation and mentality which truly identifies the important significance of marketing. The example that I use below deals with the growth and restructuring of the ecological services industry that lead to a shift in the market strategies used to differentiate themselves on the basis of their market and their consumers' wants and needs.
During the 1980s, the business ecological services industry grew by leaps and bounds -- growth rates of 25% and 30% per year were not infrequent, often for several years repeated. Even in the "softer" and more aggressive segment of the ecological business, simplest amount of advertising was often enough to attract increasing business in this seller's market.
This type of growth, common through the end of the '80s, left most managers understandably somewhat satisfied about building formal sales departments and developing strategic marketing plans. Most focused their attention on operational challenges and the technical requirements of getting the work done. The sales and marketing activities that did get done were usually conducted by...