Defining Marketing
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Marketing
Marketing can be described as advertising a product. Marketing occurs when a company is trying to persuade costumers to buy the product that they produce over another company’s product. Marketing includes intensive research so that the company can get an outlook at what is the current trend in the marketplace. The problem is that marketing in theory contains these following activities also known as the 4-Ps which are developing the product, pricing the product, promoting the product and deciding what people to sell the product.
Marketing deals with identifying and meeting human and social needs. Marketing can be defined as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. (University of Phoenix, 2006) According to the American Marketing Association defines marketing as 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 stake holders. (University of Phoenix, 2006)
According to the Marketing Principals book marketing can be defined as an organizational philosophy has been based on the marketing concept. This concept consists of three interrelated principles such as:
An organization’s basic purpose is to satisfy customer needs.
Satisfying customer needs requires integrated and coordinated efforts throughout the organization.
Organizations should focus on long-term success.
Based on these definitions, explain the importance of marketing in organizational success. Marketing is important in an organization success. Marketing is a broad topic that covers a range of aspects, including advertising, public relations, sales, and promotions. Marketing is important because it creates the core for the company. Marketing helps provide a service for the customer. Making the customer happy is the goal of the company. If a company does not know what the client wants the company will not survive. The strategy in which the company uses is important to the company success. Marketing is the key for an organization to succeed. First, marketers create a need in the mind of consumers. If they do not have a need for the product, they won’t buy it. Then they have to come up with a product which will delight the consumers, and keep them coming back again and again. This is needed to build a long-term relationship with consumers. If marketing gets them to purchase the product once, this would be a good outcome, but marketing should work to make them into lifelong loyal customers.
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