United Kingdom Chartered Institute of Marketing

There are lot of definitions of what marketing is, one definition is preferred by the United Kingdom Chartered Institute of Marketing (CIM), while the another definition is preferred by the American Marketing Association (AMA). The United Kingdom definition consists of marketing being the managing process responsible for identifying, anticipating and satisfying customers requirements profitably. The American definition consists of marketing being the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create, exchange and satisfy individual and organisational objectives. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably, (CIM) for example Tesco clubcard, will allow customers to save points until Christmas, where they will be to earn a bonus, so they can purchase extra items. Gronroos (1997) states that relationship marketing is described by a network of communications and contacts between the buyer and seller and a series of exchange over time. Both parties have to be satisfied with the relationship and achieve their respective objectives from it. Tesco build a relationship with customers by getting market research to improve products and services also Tesco understand the power of social media sites and has active profiles set up on all social sites. (Tesco 2014) (Brassington