Mkt 421 – Marketing Case
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Marketing
Cyria Villalobos
MKT/421
September 24, 2012
John Brady
Marketing
Organizations nation-wide use marketing to manage a business. What some organizations do not know is the true meaning of marketing and its purpose. Marketing will be explained in a personal point of view as well as from two different sources. This will help others understand that marketing is just not a concept for dealing with numbers but in other important concepts that can help an organization develop the wants and needs from customers.
Definition
The first thing that comes to mind when hearing the word “marketing” is numbers. When starting this class my first thought was, “here we go again with numbers and how much I was going to have a hard time understanding the marketing world.” After week ones reading I have learned that marketing is just not dealing with numbers but is a concept put in place for many important things an organization should consider when running an organization. Some of the concepts that fall under marketing is planning, competitors, items, and customers. Rendering to American Marketing Association (2012), “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (para. 1). According to “Business Dictionary” (2012), “Harvard Business Schools emeritus professor of marketing Theodore C. Levitt sated that selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product” (para. 1).
When concerning marketing out in the business-world organizations must consider the following, products, price, promotion, and place known as the 3Ps. Product: describes the features of the products or services that encounters the desires of consumers. Price: select on a valuing approach that cannot just happen. It means determining the value that shoppers have to pay involving reduction structure. Promotion: involves every tool in the marketing source – promotion, retailing, deals advancements, community relationships, and so on.
Importance of Marketing
Marketing is extremely important for every organization to have. Before organizations open to the public they must understand and focus on the purpose and service delivered to customers. If an organization expects to succeed planning definitely needs to take place to ensure everything is set where it needs to be, procedures are listed, employees are well aware of his or her