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PC Industry without Steve Jobs

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Unlike product-oriented definitions, the second category of marketing definitions engages the firm to its customers, hence the name. This group of descriptions reveals the humanitarian aspect of marketing. The American Marketing Association (AMA), the successor of NAM, defined marketing as the: …process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives (1985 cited in Gilligan amp. Wilson, 2005, p.4). while the Chartered Institute of Marketing developed the following definition: Marketing is the management process that identifies, anticipates, and satisfies customer requirements efficiently and profitably (n.d. cited in Lancaster amp. Whitney, 2006, p.4). Compared to product-oriented definitions, the preceding definition is technical though broader and considers the stakeholders as part of the value chain. The same context goes with Philip Kotler’s description stating that: Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (n.d. cited in Kumar amp. Mittal, 2001, p.2). Here, Kotler describes marketing as an interpersonal procedure. therefore, it also functions as a medium in establishing relationships with whomsoever is at the other end of the cycle.An organization employs marketing wherein the value is created and communicated back to a desired group of audience. This means that the number of goods, services, and/or any bargained for value will eventually benefit both the organization and its stakeholders. Marketing is an interactive process which starts with the identification of customer’s needs and wants and ends with their satisfaction that should lead to the increase in the organization’s competitive edge in the marketplace. Communication is the main tool of marketing and an integrated marketing communication (IMC) is the way of a strong rapport.