Bragança, Portugal

Theory of Marketing

Marketing

Bachelor's
Language: PortugueseStudies in Portuguese
Subject area: economy and administration
Qualification: politécnico
University website: www.ipb.pt
Marketing
Marketing is the study and management of exchange relationships. Marketing is used to create, keep and satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being innovation.
Theory
A theory is a contemplative and rational type of abstract or generalizing thinking, or the results of such thinking. Depending on the context, the results might, for example, include generalized explanations of how nature works. The word has its roots in ancient Greek, but in modern use it has taken on several related meanings.
Theory
A theory is the more impressive the greater the simplicity of its premises is, the more different kinds of things it relates, and the more extended its area of applicability.
Albert Einstein, "Autobiographical Notes," in Albert Einstein: Philosopher-Scientist, P. Schlipp, ed. (Cambridge University Press, London: 1949), p. 33
Marketing
Another forerunner of modern organization theorists was Andrew Ure, a professor of chemistry. An enthusiastic proponent of “the factory system,” Ure (1835) took a step beyond Adam Smith. Whereas Smith’s pin factory was solely an example of division of labor, Ure pointed out that a factory poses organizational challenges. He asserted that every factory incorporates “three principles of action, or three organic systems”: (a) a “mechanical” system that integrates production processes, (b) a “moral” system that motivates and satisfies the needs of workers, and (c) a “commercial” system that seeks to sustain the firm through financial management and marketing. Harmonizing these three systems, said Ure, was the responsibility of managers.
William H. Starbuck (2005). "The Origins of Organizational Theory," p. 149-150
Theory
The successful development of science requires a proper balance between the method of building up from observations and the method of deducing by pure reasoning from speculative assumptions...
Paul Dirac, “Physical Science and Philosophy”, Nature (1937) Vol. 139, p. 1001.
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