Master's degree

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Budapest, Hungary

Theory of Marketing

Marketing

Master's
Language: HungarianStudies in Hungarian
University website: www.bgf.hu/
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
How can we possibly test, or improve upon the truth of a theory if it is built in such a manner then any conceivable event can be described, and explained, in terms of its principles? The only way of investigating such all-embracing principles would be to compare them with a different set of equally all embracing principles- but this procedure has been excluded from the very beginning.
Paul Feyerabend, Against Method (1975) pp. 44-45
Marketing
Ads are the cave art of the twentieth century.
Marshall McLuhan (1911-1980), Culture Is Our Business (1970)
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

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