Defining Marketing Paper

In: Business and Management

Submitted By mapuan
Words 777
Pages 4
Defining Marketing
Martha Apuan
University of Phoenix
Marketing
MKT/421
David Rubenstein
June 17, 2013

Defining Marketing
Marketing is essential for the success of a company. With the changing times and the advance in technology more products are being introduced to the consumer, however, before the consumer can purchase a new item he or she has to know it is worth buying. In this paper I will define marketing, providing my own definition as well as two other definitions from credible sources. I will also explain the importance of marketing in organizational success based on the definitions and provide three examples from the business world to support the explanation. Jay Levinson said, “If you don't believe in your product, or if you're not consistent in the way you promote it, the odds of succeeding go way down. The primary function of the marketing plan is to ensure that you have the resources to do what it takes to make your product work” (Entrepreneur, 2000-2013).
Marketing Defined
According to the textbook Basic Marketing, “marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client” (William D. Perreault, 2011, p. 6). The American Marketing Association provides this definition, “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” (American Marketing Association, 2013, p. 1). My definition is that marketing is essential to an organization because it makes the consumer aware of the products or services it provides. Marketing also researches the consumer’s wants and needs to determine that the products or services will appeal to…...

Similar Documents

Defining Marketing

...Defining Marketing Shebrenna Tangarife University of Phoenix Marketing MKT/421 Stuart Ringer July 02, 2012 Defining Marketing Society would be a boring place to live in if individuals had only one choice when one purchased products. Marketing has made it possible for organizations to compete in a free marketplace. This paper will offer definitions of marketing, offer examples of organizations that use marketing, and establish the importance of marketing for these organizations. Defining marketing. To begin looking into organization success in marketing, one must pull from some definitions of marketing. According to this myself, marketing is the effect of the consumers’ choice of a product by offering a variety to select from before purchasing. To purchase an item several deterring factor are put into account such as price, brand, or quality. The AMA (American Marketing Association) defines marketing as “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 (American Marketing Association, 2012, para. 2). Merriam Webster dictionary defines marketing as the act or process of selling or purchasing in a market; the process or technique of promoting, selling, and...

Words: 769 - Pages: 4

Defining Marketing Paper

...Defining Marketing Paper Rebecca Schoenfeld MKT/421 8-8-11 Elizabeth Hartsig Defining Marketing Paper Marketing is a huge part of personal and business day-to-day life. People encounter marketing when they turn on the television, go to the supermarket, on billboards while they are driving down the road, and even at their jobs. Usually individuals opinions about marketing is they will think about the most popular business or products out in the world to date such as electronics, places to go, shoes, and clothing brands. In this paper I will be discussing my personal view on what marketing means to me, along with how two other out side source interpret marketing. Furthermore I will deliberate about the importance of marketing in organizational success. I will also be altercating three examples from different business worlds and how they incorporate marketing into their business. The definition of marketing reminds me of my workplace at Communication Test Design Inc. (CTDI). As a supervisor or manager, it is their responsibility to know exactly what the customer wants and needs. The feedback that they receive from our customers is what is important when refurbishing and selling the Verizon Fios set top boxes. This type of information goes in a weekly recap sent to the organization so that we can see what we need to improve to satisfy the customers needs. Knowing what makes the customer satisfied is what makes the company successful because we know that if our......

Words: 1237 - Pages: 5

Defining Marketing

...Defining Marketing Paper Defining Marketing Paper Marketing to me means the way you advertise your business in order to catch the attention of potential customers. The way you advertise and who you advertise to determines how successful your business will be in my opinion. Even after you open your business and have been operating for awhile marketing is still should be an important part of a business. Depending on the way you market and where you market can determine your clientele. According to the Webster dictionary, Marketing means the act or process of selling or purchasing in a market or the process or technique of promoting. Selling, and distributing a product or service. It also states that Marketing is an aggregate of functions involved in moving goods from producer to consumer. The success of an organization relies on their marketing strategy. Marketing covers advertising, promotions, public relations and sales. Without marketing potential customers will never know about your product, the service you are offering or your business. Without reaching out to the potential customers that will possibly help to make your business a success your sales will go down which will cause your business to receive zero in revenue. This will cause you to lose your business. Many business owners fail to realize that marketing is one of the most important tools in a business but often times when the economy changes marketing is taken out of an organizations budget before......

Words: 549 - Pages: 3

Defining Marketing Paper

...Defining Marketing Paper MKT/421 Abstract Marketing is defined as performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client. We determine why marketing is so important to the success of an organization because it brings to light key factors organizations should be aware of such as target audience, when to sell and produce goods, and how to. Wal-Mart, Apple, and Disney are some of the many companies who use marketing and have become successful business entities. Defining Marketing Paper Marketing is often thought of simply as the promoting of a product or service but marketing goes deeper and involves much more facets then what the average person knows about it. When people think of marketing, they usually just think about the promoting of a product that involves advertising which only a few people that are in a marketing group at a corporation. But as we are going to find out marketing is so much more with different layers and involves more than a small group of people. Defining Marketing “Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client.” (Perreault, Ph.D, Cannon, Ph.D., & McCarthy, Ph.D., 2011, p.). Another......

Words: 913 - Pages: 4

Defining Marketing Paper

...Defining Marketing Paper The meaning of marketing to me is when a person of an organization goes out to sell a specific product to others. You are marketing your product to a consumer in order for them to put your goods into their establishment for sale. I also think of marketing as a person, who is applying for a position, they have to sell themselves to that potential employer for a desired position. Therefore, you would tell the employer of your qualifications, skills, and ability to perform the task at hand. When I went online to find two different sources regarding their definition of marketing this is what I found. Under the website ‘the definition of marketing.com’ it stated that marketing is the name we use to describe the promise a company makes, the story it tells, the authentic way it delivers on that promise. The second site, ‘business dictionary.com’ states that the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P’s of marketing: (1) identification, selection and development of the product; (2) determination of its price; (3) selection of a distribution channel to reach the customer’s place; and (4) development and implementation of a promotional strategy. The importance of marketing in any type of organization is customer’s needs. As a company grows you want to create awareness about your products, services, and have loyal customers. Through......

Words: 763 - Pages: 4

Defining Marketing

...Defining Marketing MKT/421 Marketing is a fundamental of running and owning a business or organization. Marketing is very important to a company and essentially could make or break them. According to Dictionary.com marketing is defined as “the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing and selling.” The textbook Marketing Management stated that “marketing is about identifying and meeting human and social needs” This seems very accurate and says it all in a short and easy understandable statement. When marketing the company is focusing on what the consumers want and to make sure that they meet the needs of the consumers. I would define marketing as simple as the process of goods and services that move from the producer to the consumer. Marketing is very important to have a successful organization. To have a successful organization marketing has to be one of the main focuses, without marketing a company wouldn’t last. Getting the word out about a business such as advertising, promotions and sales and having public relations are some of the best ways to get the word out there. How are consumers supposed to know a company is out there without having the proper marketing be done? You could lose much needed sales if you aren’t able to market properly. Once you get the word out there people will tell......

Words: 838 - Pages: 4

Defining Marketing

...Defining Marketing Paper MKT/421 February 6, 2014 Philip Heckman Defining Marketing Paper * The first thing that comes to mind when one hears the phrase "Marketing" is selling or advertising. But marketing is much more than just selling and advertising, its objective is to satisfy and identify the needs of consumers. Marketing, in fact, refers to any activity undertaken by a firm that has been designed to plan, price, promote and distribute ideas, goods and services to target markets (Perreault, Cannon, & McCarthy, 2011). In view of this broad concern of marketing, it can be seen that the concept of marketing summarizes many activities in a business. These marketing activities were executed in order to create an exchange and sales that will result in the achievement of the proprietors' individual goals and the firm's goals, both in the short-term and the long-term. It is then obvious that marketing forms an integral component of organizational strategies. * According to the American Marketing Association marketing is defined 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 stakeholders ("American Marketing Association", 2004). The Merriam Webster's definition of marketing is " (1) The act or process of buying and selling in a market. (2) The commercial functions involved in transferring......

Words: 835 - Pages: 4

Defining Marketing

...Defining Marketing Paper Toya Carter MKT/421 May 25, 2011 Susan Craver Abstract Marketing is a very important tool for a growing business. Marketing is a good investment for businesses. Marketing is an area that has been proven to pay for itself within any business. Marketing is often misunderstood, because of lack of research, time, resources, and the understanding of its potential. Marketing is effective for any business if it shows what task the business does well or how well the business produces products differently from competitors. In this paper the subject to discuss is the meaning of marketing and the importance of marketing in organizational success. Three Definitions of Marketing First Definition of Marketing My opinion of marketing is advertising a service or product to gain potential consumers who may want to purchase the service or product. In think advertising services or products to potential consumers is a great for any business to gain customers because if the consumer does not usually shop at the business in question the individual would not know what services or products the business is offering for sale. For example, AT&T Wireless sends advertisements in weekly newspapers in the Orlando area. This advertisement shows the newest products and phone service plans the business is offering. Also the advertisement shows how potential customers can have great phone service at a very low rate and obtain a new phone of their choice without......

Words: 903 - Pages: 4

Mkt 421 Week 1 Defining Marketing Paper

...MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your......

Words: 1345 - Pages: 6

Mkt 421 Week 1 Defining Marketing Paper

...MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) MKT 421 Week 1 Defining Marketing Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser http://hwguiders.com/downloads/mkt-421-week-1-defining-marketing-paper/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your......

Words: 1921 - Pages: 8

Defining Marketing

...Defining Marketing Paper Student Mkt/421 January 16, 2011 Defining Marketing Paper Marketing is a vital part of product sales and consumer shopping. Often marketing groups place consumers into target groups, without their knowledge, to develop the best strategy for the sale of products. Many people believe that Marketing is just advertising and placing ads in newspapers, on television, the radio, and billboards. Although advertising is an important part of marketing, it is not all there is to it. Marketing starts at a products development and continues to the consumer’s purchase. Within this paper marketing will be defined and its importance explained. Marketing Definitions Until this course I thought of marketing as the advertising and sales of products or services. I thought that marketing was putting ads and campaigns together for the purpose of attracting people to a product or service. After beginning this course I have learned that marketing is much more than advertising, it also plays a role in production and the product flow from provider to consumer. Marketing is valuable to sales because it tells the customer that the product is available, where it can be found, how much it cost, and where the advertisement and placement of the product should be. The "American Marketing Association" (2007), definition is "Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that......

Words: 1264 - Pages: 6

Defining Marketing

...Defining Marketing James Rodriguez MKT/421 March 22, 2012 Chris Boling Defining Marketing Have you bought anything lately, if so it is a good possibility you were affected by marketing. Marketing has infiltrated all parts of our day, from television to radio and even sporting events. Within this paper the author will define marketing by different sources and will also include his personal definition of marketing. Based on these definitions the author will explain the importance of marketing in organizational success and will provide examples from the business world to support his explanations. Marketing, as defined by Perreault, W. D., Cannon, J. P., and McCarthy, E. J. (2011) is the performance of activities that seek to accomplish an organization’s objectives by anticipating customers or client needs and directing a flow of need-satisfying goods and services from producer to customer or client. Businessdictionary.com (2012) defines marketing as the management process through which goods and services move from concept to the customer. As a practice, it consists of coordination of four elements called the four P’s (1) Identification, selection, and development of a product, (2) Determination of its price, (3) selection of a distribution channel to reach the customer’s place, and (4) development and implementation of a promotional strategy. This author’s (James) definition of marketing is the process of exploiting consumer’s weaknesses to get them to buy your product......

Words: 628 - Pages: 3

Defining Marketing

...Defining Marketing Ashlee Harris MKT/421 April 17, 2012 Barbara Freeman Defining Marketing Marketing in today’s business world is an important part of an organization or business to continue operating. Marketing is a tool that provides customers information to see what the businesses have to offer so the customer needs are satisfied. In this paper, the definition of marketing will be defined, the importance of marketing in organizational success will be interpreted, and examples from individual’s everyday lives will be interpreted with the definitions provided. According to Basic Marketing, “marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return” (Perrault, Cannon, & McCarthy, 2011). It is important for companies to build a strong customer relationship so that the customers will return to the business. For example, working at AMF Bowling Centers, the company has many marketing strategies to keep customers coming to the centers to bowl, for instance on Sunday through Thursday evening from 9 p.m. to Midnight, the center has all you can bowl, shoes included for only $8. This allows the customers to come enjoy his or her time at an affordable rate. AMF has incorporated many strategies because many customers complain about how expensive it is to bowl but at the end of the day the customers are satisfied with the services they have received and he or she......

Words: 757 - Pages: 4

Defining Marketing Paper

...Defining Marketing Paper Christopher Davis MKT 421 August 14, 2012 Willie Larry Jr. Defining Marketing Paper This paper will describe the definition of marketing according to Chris Davis and two other sources. The reader will also learn how marketing in an organization the key component to that organization’s success is. Finally, it will provide examples from the business world to support his explanation. Marketing Marketing is having a product that the consumer wants and is willing to pay a profit for it; this is the definition of marketing to Chris Davis. “Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client.”(Perrault, Cannon, & McCarthy, 2011, p. 6) “Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “meeting needs profitably.” (Kotler & Keller, 2012, p.5) The American Marketing Association offers the following formal definition: 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. (Kotler & Keller, 2012, p.5) Marketing in an Organization Marketing in an organization is a key component because without it there would be no profits and an organization would not......

Words: 866 - Pages: 4

Defining Marketing

...Defining Marketing Paper W University of Phoenix MKT/421 May 31, 2012 Defining Marketing Paper The “Meriam Webster Dictionary” (n.d.) defines Marketing as: a : the act or process of selling or purchasing in a market; b : the process or technique of promoting, selling, and distributing a product or service; c : an aggregate of functions involved in moving goods from producer to consumer. The “Business Dictionary” (n.d.) defines it as the management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy. It also says that as a philosophy, marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business School's emeritus professor of marketing Theodore C. Levitt) "Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs ("Business......

Words: 1029 - Pages: 5

Watch Now | Medical Frontiers S03E22 Eat To Cure 1080p HEVC x265-MeGusta 47 minutes | Авторемонт и красота