Marketing

Marketing

Marketing Defined

Marketing can be interrupted in several different ways depending on the services or product that is trying to be sold. There are many ways to advertise a product; one can promote a product visually on a newspaper, magazines, television commercial, or on the internet; it can also be advertised orally by word of mouth. I would define marketing as the way to advertise and promote a product that one is trying to sell. The purpose of this paper is to define marketing from at least two different cited sources and personal experiences.

Marketing is not easy to define. It seems to be very broad when I think of a definition. The first thing that comes to my mind is that marketing is selling a product or service to a particular audience. The following definition of marketing was approved by the American Association of Marketing (A.M.A.) which states, Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (AMA, 2007). Another source defines marketing as identifying unmet needs; producing products and services to meet those needs: and pricing, distributing, and promoting those products and services to produce a profit (Learn That.com LLC, 2007).

Marketing is important to an organization's success because it helps a business stay ahead of the competition and stand out from the rest. Marketing focuses on customers and what they need and want from a product or service (More Business, 2007). From business cards to hosting a charity event in the community, everything you do within your company sends a message to the customer.

Definition One

Contemporary Marketing Wired defines “Marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives." (Boone and Kurtz, 1998) The importance of marketing as a process within an organization is crucial as it defines the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors. This would involve in depth market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion, and distribution that would directly affect the potential income of the organization.

Definition Two

Marketing as presented by Barron's magazine is “a process associated with promoting the sale of goods or services. The classic components of marketing are the Four Ps: product, price, place, and promotion-the selection and development of the product, determination of price, selection, and design of distribution channels (place), and all aspects of generating or enhancing demand for the product, including advertising and (promotion). In the business world a true marketing strategy or plan and how it is implemented can result in success or failure for an organization. In earlier readings I have found that in is important for the marketing and sales department to work hand in hand to deliver the most ...