Module contentMarketing is “…the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value to customers, clients, partners and society at large.” More pragmatically, Kotler and Keller indicate that “Marketing is about identifying and meeting human and social needs […] profitably.” While Peter Drucker stated “…because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: Marketing and Innovation. Marketing and innovation produce results; all the rest are costs. […and since Marketing drives Innovation…] it is the distinguishing, unique function of the business.”
Identifying and meeting needs profitably (both known, and new needs customers may not even yet be able to articulate), allows the firm to create and preserve competitive advantages, is often associated with stronger sales and higher margins, and enhances shareholder wealth.
Marketing and Sales module is designed to fulfill both tasks: Marketing is responsible for identifying and satisfying needs and creating a mechanism of value exchange between the marketer and customers. Customers receive solutions from the firm in exchange for monetary compensation for the solution. In this module you will explore how you can create, deliver and capture value.