|
Marketing, as a discipline, is centered on creating value: creating shareholder value in profit-maximizing firms by generating superior returns on investment, or creating social value through organizations whose overarching objectives include contributions to the common good.
Marketing has been called the entirety of the business from the perspective of the customer, highlighting both the ultimate importance of customers to business success and the pivotal role that marketing plays in connecting customers to the business.
Accordingly, marketing predominates in most companies as the interpreter of customer needs and behaviors (critical information to the business), the architect of products for customers (the output of the business), and the steward of customer relationships (the bond between the business and the customer).
Most commonly, marketing has organizational responsibility (and accountability) to formulate, implement, and monitor specific strategies and tactics for serving high potential markets with the right offerings (goods and services) and effective programmatic support (traditionally characterized as the 4 Ps: product, price, place, and promotion).
Students who complete a marketing concentration will be prepared for entry-level careers in brand management, customer account management, advertising, market research, and consulting. |