Entrepreneurship Center

Marketing is the process of satisfying the organization’s stakeholders and creating value for these stake-holders. Marketing management is the management of this process.

Stakeholders are persons  or organizations that have a relationship with the organization. Every organization has a different set of stakeholders, although many have the same type. Stakeholders are affected by the actions of the organization and many of these stakeholders are the focus of marketing efforts. Typical stakeholders include customers, employees, distributors, suppliers, owners, and the community.

Marketing is the common thread that ties all the stakeholders together. Many of the relationships are obvious, but let’s look a little closer at an obscure one —  the bank. From a marketing point of view, you have to establish constructive communication with the bank. You must ensure that the bank maintains a positive attitude towards your company. You are selling your organization to the bank very much like you are selling the organization to your customers.

And just as your objective is to keep your customers happy, your objective here is to keep your bank manager happy. The campaign may be simpler, but the process is the same.

Marketing is the process of satisfying the organization’s stakeholders and creating value for these stake-holders. Marketing management is the management of this process. Stakeholders are persons  or organizations that have a relationship with the organization. Every organization has a different set of stakeholders, although many have the same type. Stakeholders are affected by the actions of the organization and many of these stakeholders are the focus of marketing efforts. Typical stakeholders include customers, employees, distributors, suppliers, owners, and the community.

Marketing is the common thread that ties all the stakeholders together. Many of the relationships are obvious, but let’s look a little closer at an obscure one —  the bank. From a marketing point of view, you have to establish constructive communication with the bank. You must ensure that the bank maintains a positive attitude towards your company. You are selling your organization to the bank very much like you are selling the organization to your customers. And just as your objective is to keep your customers happy, your objective here is to keep your bank manager happy. The campaign may be simpler, but the process is the same.

More reading: http://www.ryerson.ca/~kjensen/marketing/chapter1.pdf