Reference no: EM133497030

Case Study: Select any one of the following starter bullet point sections. Review the important themes within the sub questions of each bullet point. The sub questions are designed to get you thinking about some of the important issues. Your response should provide a succinct synthesis of the key themes in a way that articulates a clear point, position, or conclusion supported by research. Select a different bullet point section than what your classmates have already posted so that we can engage several discussions on relevant topics. If all of the bullet points have been addressed, then you may begin to reuse the bullet points with the expectation that varied responses continue.

Question: The American Marketing Association (AMA) defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."

• Evaluate the strengths and weaknesses of this definition.
• Defend how you would change the definition.
• Assess whether the definition is clear, accurate, relevant, and current in today's organizations and society.
• Many people think of marketing as only promotion. However, marketing is much more. A common way of understanding the essentials of marketing is using the 4Ps model-product, price, place, and promotion.
• Analyze each of the 4Ps and explain how they create value for organizations. Remember, value creation is any type of activity or outcome that will add to the long-term success of the organization. It is more than simply economic value and includes enhancements such as customer good will, employee satisfaction, supplier networks, managerial skills and experience, and ethical or community factors. Creating value can include intangible as well as tangible assets, such as intellectual property and a business plan.
• Justify which of the four functions (4Ps) seems to provide the most value to organizations.
• Marketing has evolved into a major business function that crosses all areas of an organization. For example, marketing may advise production about how much of the company's product to make and then may tell logistics when to ship it. Accordingly, marketing influences business practices and it may also have wider influence on society.
• Assess the importance of marketing to society.
• Evaluate how marketing has changed society.
• Analyze how marketing has impacted today's lifestyle.