The process of planning and executing the conception, pricing, and services to

create exchanges that satisfy the individual and organizational (pharmacy

objectives)
Marketing is the process of communicating with the customer and inducing in him
the knowledge of the product. If the product features match the customers need,
he would eventually be convinced buying it. In other words, marketing is the
process of understanding the customer preferences and providing him with what
he wants. But the preference of a customer depends on the nature of the product
and not the nature of the business of a company. Hence it is the kind
of contemporaryapproach towards a customer that makes the whole difference.
This is where companies have been constantly working on finding the unique
ways to please a customer and retain his loyalty.

http://passionateinmarketing.com/contemporary-marketing-approaches-for-better-
organizational-growth/

In addition, According to Dr. Philip Kotler he define Marketing as:

the science and art of exploring, creating, and delivering value to satisfy the
needs of a target market at a profit. Marketing identifies unfulfilled needs and
desires. It defines, measures and quantifies the size of the identified market
and the profit potential. It pinpoints which segments the company is capable of
serving best and it designs and promotes the appropriate products and
services.

Marketing is the science and art of exploring, creating, and delivering value to
satisfy the needs of a target market at a profit. Marketing identifies unfulfilled
needs and desires. It defines, measures and quantifies the size of the identified
market and the profit potential. It pinpoints which segments the company is
capable of serving best and it designs and promotes the appropriate products
and services.

Marketing is often performed by a department within the organization. This is

both good and bad. Its good because it unites a group of trained people who
focus on the marketing task. Its bad because marketing activities should not be
carried out in a single department but they should be manifest in all the activities
of the organization.

In my 11th edition of Marketing Management, I describe the most important

concepts of marketing in the first chapter. They are: segmentation, targeting,
positioning, needs, wants, demand, offerings, brands, value and satisfaction,
exchange, transactions, relationships and networks, marketing channels, supply
chain, competition, the marketing environment, and marketing programs. These
terms make up the working vocabulary of the marketing professional.
 Marketings key processes are: (1) opportunity identification, (2) new product
development, (3) customer attraction, (4) customer retention and loyalty building,
and (5) order fulfillment. A company that handles all of these processes well will
normally enjoy success. But when a company fails at any one of these
processes, it will not survive.

http://www.kotlermarketing.com/phil_questions.shtml

Sell any and all of the companys products to anyone and everyone.
To create products that satisfy the unmet needs of target markets.
The mission of marketing is to raise the material standard of living throughout
the world and the quality of life.

Marketings role is to sense the unfulfilled needs of people and create new and
attractive solutions. The modern kitchen and its equipment provide a fine example of
liberating women from tedious housework so that they have time to develop their
higher capacities.

http://www.kotlermarketing.com/phil_questions.shtml

Marketing objectives are goals set by a business when promoting its products
or services to potential consumers that should be achieved within a given time
frame. In other words, marketing objectives are the marketing strategy set in
order to achieve the overall organizational objectives. A company's marketing
objectives for a particular product might include increasing product awareness
among targeted consumers, providing information about product features and
reducing consumer resistance to buying the product.

http://study.com/academy/lesson/what-are-marketing-objectives-examples-
lesson-quiz.html

Contemporary Marketing It is usually associated with for-profit business

organizations, like San Miguel Beer, Jollibee, Mang Inasal, Unilab, Nokia, Smart,
Toyota, Honda, BPI, Metrobank, and Robinsons.

But it is also used by individuals, educational institutions, national parks,

governments, sports organizations.
 https://www.google.com.ph/url?sa=t&rct=j&q=&esrc=s&source=web&cd=16&cad
=rja&uact=8&ved=0ahUKEwih7bHomrvXAhULnZQKHRhRDUsQFghxMA8&url=h
ttps%3A%2F%2Fwww.slideshare.net%2Fbokernz%2Fcontemporary-
marketing&usg=AOvVaw1yEeDm82lJG3iXToeo_9So

Contemporary Marketing refers to theories that stress the importance of

customer orientation versus the traditional market orientation. They are strategies
that, when implemented, offer greater support for their client base with a product
range that varies depending on what the target market desires. Rather than what
the company wants them to have.

Products including the vast array of kitchen appliances with built in failure
components attracting their customer base back to them for further purchases
are an example of product orientation. Traditional marketing theories are said to
favour this ideology. Though somewhat devious, it is most definitely effective.
Attracting customers to their product range has become more difficult because
consumers have become more literate in technology and, therefore, can
research items before purchase. This allows them to make a conscious and
informed decision to avoid companies with this ethos.

Contemporary marketing theories include Co-Creation. This theory suggests

creating a bridge between customer and business through gamification. A
practical example would be attracting customers through social media content
relevant to their needs or writing article blog posts that have useful information.
Research conducted by Harvard business school and London school for
business found that businesses that utilised the contemporary marketing strategy
and incorporating both co-creative and shared value ideas, over the long run
prospered far more than those companies who hadn't chosen this avenue.

Another popular contemporary marketing theory is shared value. This theory

considers the market that the company is wanting to penetrate and seeks to offer
perks in said market. A successful example of this would include Tesla. They
have invested millions of dollars building charging stations for electric cars across
North America, Europe and Asia. The stations can be used by many different
branded electric cars. They have actively tried to improve the market whilst
simultaneously attract more customers to them. For B2B companies, this may
include creating events where companies in the same industry can be invited and
discuss amongst themselves offers they can give each other.

https://blog.jdrgroup.co.uk/digital-prosperity-blog/traditional-vs-contemporary-marketing-
strategies

Traditional marketing is an umbrella term that covers the wide array of

advertising channels we see daily. These may include print media, billboard and
TV advertising, flyer and poster campaigns and radio broadcast advertising. They
are not necessarily outdated, however, research has shown those companies
 that have abandoned simply using these channels, and adopted contemporary
marketing channels proposed in this article, have remained prosperous and in
fact seen an increase in leads, sales and traffic to web content.

Traditional marketing theories include Ansoff's Matrix, a theory that proposes

products/services fall into one of four categories depending on the market and
the product released. New Product- New Market is considered as diversification.
This theory recommends that businesses should try to diversify their product
portfolio so as to spread risk amongst their product range. An example of this
would be when apple created the first iPhone released in 2007. This product was
new and introduced into a new market. Apple soon reaped the benefits of
introducing this hugely popular phone. Their product range grew from
accommodating for designers on the Apple Mac, to mobile devices, tablet
devices, watches and beyond.

Another marketing theory that's considered to be traditional is the marketing mix.

Made up of the 7 P's. These include product, place, promotion, price, packaging
and positioning. All these components, when combined, create a solid marketing
proposal. However this theory as well as Ansoff's, can be drastically improved
with the use of contemporary marketing strategies.

Traditional Marketing seeks to pull customers to a product, whatever the cost. It

is, for this reason, considered to be fairly outdated as it does not consider the
customer they are selling to, more the market that the company operates within.
There are however channels that have developed from traditional marketing,
including digital, that aim for the same goal, however, use more subtle and
approachable mediums so as to capture their target audience. This may include
Pay-Per-Click Campaigns, social media posts, search engine optimisation and
email marketing.

https://blog.jdrgroup.co.uk/digital-prosperity-blog/traditional-vs-contemporary-marketing-
strategies