Defining Marketing Paper
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Defining Marketing Paper
Everyday people are exposed to at least one form of marketing, even if they do not realize it. What is marketing? Marketing involves activities and strategies which result in making products available that satisfy customers. Marketing effects the profitability of the company for which the product is offered. Marketing activities include: designing a product, promoting a product, and setting the price of a product (About). Marketing plays a vital role in the success of an organization as well as in economic growth and development (Perreault, McCarthy, 2004). This paper will include two separate definitions of marketing as well as provide three examples of why marketing is important in the business world today.
Marketing can be defined as the act or process of selling or purchasing in a market (Merriam-Webster). Shaklee is a company who does not take the traditional method of marketing its products. There are so many supplements on the market today, a person can find them in the grocery store, health food stores, catalog sales and even on television. Shaklee is successful and sells or markets its products through word of mouth and does not need to advertise its product. Dr. Forrest C. Shaklee founded Shaklee in 1956 in order to provide products in harmony with Nature to build good health. Dr. Shaklee accomplished his goal by stabilizing vitamins, minerals and proteins extracted from vegetables formulating what is called Vita-Lea Multivitamin (Shaklee). His intention for formulating Vita-Lea was to help people, instead of a get rich quick scheme. Shaklee has been and will continue to be successful because of its integrity and quality of product. The people who use their products feel the results of the product and pass on their success stories to the people around them.
A more detailed definition of marketing is micro-marketing. Micro-marketing is the performance of activities that seem to accomplish an organizations objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client (Perreault, McCarthy, 2004). Marketing encourages innovation which develops and spreads new ideas, goods and services (Perreault, McCarthy, 2004). An example of innovative marketing is the Target motto “Always thinking ahead. Always moving forward” (Target.com). Targets innovative concept “Fashionable, smart design driven by our department store roots delivered at competitive discount prices” (Target.com). From its beginnings, the Target Corporation has been innovative. Target has always given 5% of its pretaxed profits towards good causes. The companys generosity continues to this day and has inspired other companies in and out of the industry to also be active in supporting their surrounding communities. A recent innovation Target has introduced is ClearRx system in the pharmacy division. The ClearRx system delivers prescriptions in an easy-to-read, color-coded bottle, minimizing the chance of taking the wrong dose or confusing medications between family members (Target.com). The bottle shape is completely unlike what one finds at other pharmacies which appeals to consumers.
A third example of a successful business marketing plan is the University of Phoenix (UOP). The school is geared towards “working adults” which appeals to a great deal of people in the working world today. UOP promotes graduating with a four year degree in a little as two years, which is an even great appeal to working adults today. People are exposed to advertisements