...There are many different ways to define marketing; it just all depends on how each person looks at marketing to how they define it. Most people think that all there is to marketing is advertising and selling of goods and services but there is so much more to it that just that. According 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. There are different parts to marketing and different things that you have to do for marketing as well. There is business to consumer marketing and business to business marketing and each is different but similar at the same time. Business to consumer 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. Marketing in this situation is used to identify the customer, satisfy the customer and keep the customer. In this situation you figure out what the consumer wants and how to keep them using your product and this is marketing research. The people doing the research have to find out what specifics the consumer wants in their product and figure out the best way to accomplish that and advertise it for the consumer. A good example of this would be cell phones; these are something that is getting more advanced and competitive. The key to cell phones...
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...Marketing is defined in many different ways. It depends on how marketing is looked upon and the aspects in which it is thought to be made up of. Wikipedia define marketing as “a societal process that is needed to discern consumers’ wants; focusing on a product /service to those wants, and to mould the consumer toward the product / service….Marketing tends to be seen as a creative industry, which includes advertising, distribution and selling. It is also concerned with anticipating the customers’ future needs and wants, often through market research” (Wikipedia, 2007). MarketingPower.com defines marketing as “an organization 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” (MarketingPower.com, 2007). As time has went on, people think of marketing in different manners. Amidst the online era, new technology and techniques have been designed and each marketer changes the definition of marketing to suit his or her own preference. Many misinformed definitions have people thinking that marketing, sales, and advertising as synonyms. All people know that this is incorrect even though all these aspects are combined in some way. Personally, marketing is defined as all aspects starting with the idea of the creation of a product through the completion of the sell-through on the floor. Defining all the actions that need to take place before proceeding...
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...Define Marketing MKT/421 Define Marketing Marketing is defined in several ways by different books, companies, websites and dictionaries. There are three different definitions of marketing from three different sources, and then it will be explained how marketing has been used for three different companies. There are management thinkers that think that marketing is the most critical function of a business. When looking at how a business is organized, the marketing department brings in the revenue which in turn goes to the finance department that manages the revenue. The companies have to have the revenue to keep the production, manufacturing, and research and development going to make new products and services to stay in the competition. Definitions of Marketing According to the American Marketing Association, 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 Marketing Power, October 2007). The Business Dictionary.com explains marketing as: Management process through which goods and services move from concept to the customer. As a philosophy, it is based on thinking about the business in terms of customer needs and their satisfaction. As a practice, it consists in coordination of four elements called 4P’s: (1) identification selection, and development of a product, (2) determination of...
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...Defining Marketing Eric Severyn University of Phoenix Defining Marketing Marketing plays a key role in any successful business and is the most important step in creating or expanding a business, especially if the business is a startup or an entity trying to introduce a new product to the marketplace. The following will define marketing, first my own personal definition, and then definitions from two different sources. In addition, the importance of marketing in an organization’s success will be explained based upon these definitions and include examples from the business world that support my explanations. Personally, I think marketing consists of many facets when trying to build a reputation for your business or introduction of a new product. Marketing can take place through advertising, surveying prospective clients, studying demographics of your market area, specifying a particular income range for your efforts, and many other forms of notifying or discovering a new client base. Yet the most basic form of marketing that exists is often ignored, and that is plain old good customer service. In my experiences in business, this was always the cheapest and most efficient way to build my company’s reputation because as the old adage goes, if you do a bad job, the client will let 10 people know, yet if you do a great job the client will tell a few. Customers are always more likely to complain than complement unless you step beyond the normal customer satisfaction levels. Other...
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...Define Marketing MKT/421 Marketing in my opinion is a business strategy that is designed to help promote a business. For example, commercials are a marketing strategy that organizations use to promote their business as well as other things like flyers and billboards. Marketing also includes a lot of planning when taking into consideration things like who your target market is. Once that decision is made then a business can start laying the ground work with their marketing strategy because then they can decide on what’s the best way to appeal to their consumer. According to The Chartered Institute of Marketing, "Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably." This means the ideas, the brand, how you communicate, the design, print process, measuring effectiveness, market research and the psychology of consumer behavior all count as part of the bigger picture of ‘marketing’. On www.businessdictionary.com the definition of marketing is as follows: 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 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. Marketing is extremely important to organization...
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...DEFINE MARKETING 1 Define Marketing Larry Jean Baptiste University Of Phoenix Unit 1 Individual Project Course: MKT/421 Facilitator: Henry Weber May 13, 2013 DEFINE MARKETING 2 Define Marketing Marketing is the performance of activities that seek to accomplish and organization’s objectives by anticipating customers’ or clients’ needs and directing a flow of need-satisfying good and service form producer to customers or clients. (Perrault, Cannon, & McCarthy 2011) In my opinion Marketing is a way that organizations or corporations communicate to potential and current customers in reference to having products or services that they need or desire at an affordable price. Marketing is the process of technique of promoting, selling, and distributing a product or service. (Marketing (n.d.) http://www.merriam-webster.com/dictionary/marketing.) Marketing play a vital role in an organization’s success, because without a marketing plan on how to distribute , promote, and inform potential customer and current customers of products or services that the company provides, then failure of the company is inevitable. There are a lot of competitors out there, due to this fact an organization have to place big emphasis on marketing, because not only do the company have to get the information about eh products and services to the customers in order for them to make an informed decision to get the product or service. They also have to do it cost effectively...
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...Define Marketing Paper 1 Define Marketing Paper MKT/421 Define Marketing Paper 2 Marketing is very essential for a company to succeed; this is how people learn about a product or service. A person learning about a product or service is not all that marketing does, marketing entails more than that. I will discuss my personal definition of marketing along with formal definitions with example to support my explanations. Personal Definition When I think of marketing I think of it as the opportunity to grab a person’s attention so that they become interested in your product or services. I think Costco has a great idea on how to grab people’s attention to sale the products they have in their warehouse. For instance they have people come in and demonstrate the products they sale, for example I had seen this blinder a few times in the store never paid much attention until one day I went in and they were demonstrating how it work all the health benefits and offered it at a discount and gave coupons for frozen fruit. By doing this they got my attention and sold me the blinder and the fruit. They even demonstrate food I have bought food several times that were not on my list just because I tasted and wanted to it. At the end of each year they give their customers a free cookbook, and now they are offering a bulletin board to help promote the small businesses in their area. Showing that you care about your customers keeps them coming back and telling others. Formal...
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...Defining Marketing Companies in today’s market compete with one another to sell their products and in hope of making profits. The tool to get consumers to notice and buy their products is marketing. Generally, consumers think marketing is made of two factors which are advertising and selling. In a nutshell the thought is essentially letting people know what the company has to offer. This concept however is just part of marketing. There are other factors contributing to how the companies market their products. Those factors are the constant analyzing in the numerous changes in competitive environment, to strategize to meet those changes, and to create their business niche. This paper will define marketing by providing definition from two sources. It will explain the importance of marketing to the organizations’ success. Also, it will provide three examples from the business world. Marketing Defined Marketing had been a crucial tool for businesses. It is use to influence and create the urge to in the heart of the consumers. To understand the influence and the need to create this urge lets define marketing on how it impacts the consumers’ choices. According to the text by Kotler and Keller, marketing is an expression of art and science. The statement itself illustrates the boundary between the formulated and creative side. In short it identifies the needs and meeting those needs. Generally, companies want to build a long lasting relationship and trust with...
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...Defining Marketing This paper will detail the different interpretations of Marketing. Over the years many businesses have implemented Marketing into the business strategy which define and shape their products and services. Each company has a unique definition on how Marketing is important to the processes of the business. This paper will explain how and why Marketing is important and will give several examples to prove these theories. With my exposure to marketing I feel that marketing has always been seen as the driving force behind seeking the right customer to try to promote products, which is to satisfy the customers need, and the ultimate goal to make a profit. A more formal definition by the American Marketing Association stated that, “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” This definition explains the importance of marketing in all organizations, and it covers the creative, social and value aspect of creating a need for a company’s product. Some definitions of marketing are company focused, profit driven or customers focused; depending on which concept of marketing the manager deems important to the success of the company. Several reasons that some companies fail is because of the short term goals that are solely sales driven and only concerned about profit, and the other business...
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...Defining Marketing Janae Dawson MKT 421 March 14, 2012 Robert A. Cordero, MBA Defining Marketing According to (Armstrong & Kotler, 2011, p. 4) “Marketing, more than any other business function deals with the customers.” Armstrong and Kotler (2011) go on to elaborate on how marketing is the process a business takes to manage profitable customer relationships. This is known to be true from the consumer point of view. When a business has a marketing campaign they must think as if they are “I” the consumer. Every day I see what I consider to be bad or good marketing. I base these ideas if the marketing the business used attracts me to their business or product. The American Marketing Association unveiled a new definition for marketing in 2008 that defines marketing “ as an activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (“American Marketing Association releases new definition of marketing,” 2008, para. 1). The definition given by the American Marketing Association gives a more broad yet better understanding of marketing than the definition of marketing from the textbook. The elements involved in marketing provide creativity concerning ideas that will entice the consumer. An idea as simple as a slogan or phrase can gain a business customers, such as Wal-Mart’s “ Save Money. Live better.” People love to save money, and saving makes people...
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...Introduction Various individuals consider that marketing is about advertising or sales. Conversely, marketing is everything an organization does obtain customers, and continue a relationship with them. To obtain clients business may have to do a small task that consist of correspond thank-you letters, playing golf with a potential customer, promptly returning calls, and meeting with a previous client for coffee can be part of marketing. The ultimate objective of marketing is to match a business products and services to the individual who wants and must have them, in so doing guarantee profitability. This paper will define marketing, and explain the importance of marketing with examples. Defining Marketing Marketing on a personal note is to communicate the involvement of what an Individual have gathered through a mix of basic working understanding of economics, finance, marketing, and business management classes. According to Investopedia marketing is the activities of an organization associated with purchasing, and selling a product or service. It consists of advertising, selling and delivering products to individuals’. According to e-text marketing remains the procedure is by way of organizations generate value for consumers, and building durable customer relationship to capture value from consumers in return (Armstrong, G., & Kutler, P. 2011, p.5). Importance of Marketing In today’s businesses success is in marketing without advertising, public relations...
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...Define Marketing MKT/421 Rachel Rankin May 28, 2012 Evelyn Bisenz-Johnson Marketing Definition Marketing is an eclectic activity studies and undertaken by people with a wide variety of skills and knowledge bases. Many scholars and practitioners believe that marketing is not just a functional area within an organization but also a philosophy that should permeate all areas of the organization (Webster, 2005). Marketing managers within an organization transfer marketing into other functional areas with little training in marketing ((Bartels 1974, 1983; Hunt 1976, 2002). Marketing is an organization 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 (Gregory T. Gundlach, 2004). Marketing is a way an organization advertises their product to the community. Organizations would not have a great business without marketing their product; this would include advertising the product, what it does, and how it can work for you. Marketing department makes the product look good so individuals will want to purchase the items for their business. My personal definition of marketing is developing a product and plans a strategy that allows you access to the public, and corporation that needs your product. Items that an organization sells will have different...
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...Marketing Paper 1 Defining Marketing Paper University of Phoenix Marketing 421 Marketing Paper 2 What is marketing? Marketing is the way companies get the attention of consumers and get the consumer to purchase their products. Marketing is the act or process of buying and selling in a market. It is also the commercial functions involved in transferring goods from produce to consumer (Grolier 2008). Marketing is 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 (Kotler, 2001). Marketing is a societal process which figures out consumers wants, focusing on a product or service to fulfill those wants. This is to move the consumer toward the products and services offered. Marketing is a way of guiding an organization to be successful in selling a product or service that the consumer not only desires but what the consumer is willing to buy. Why is Marketing important? Good marketing is important because customers want satisfaction in the things they spend money on. Customer satisfaction is key to a successful business. If the customer is not happy they will take their money to some other company that can meet their needs. Marketing plays key roles in many aspects of the business. Helping the business grow, identifying spending trends, etc. This helps the organization adapt to meet the consumers...
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...Defining Marketing Definition of marketing is how companies/businesses achieve their customers and improve products. Marketing helps businesses grow and generate profit if done right. The development and strategies of marketing is done by knowing what the customer needs and interest are and using that information to help lure them in for business or to create better product. Marketing is about delivering and satisfying the desires of the customer and using that for advertising and bettering a business. The definitions of marketing from other sources are as follows. “Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of activities that we could call marketing. Good marketing has become an increasingly vital ingredient for business success. And marketing profoundly affects our day-to-day lives. It is embedded in everything we do—from the clothes we wear, to the Web sites we click on, to the ads we see (Philip Kotler, 2009).” The second source and definition is by William Perreault. He believes marketing is more than just trying to sell a product. “In fact, the aim of marketing is to identify customers’ needs and meet those needs so well that the product almost 'sells itself.' This is true whether the product is a physical good, a service, or even an idea. If the whole marketing job has been done well, customers don’t need much persuading. They should be ready to buy. And after they buy, they’ll be satisfied and ready to buy the...
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...Defining Marketing Sandra Neal MKT/421 September 02, 2013 Kelly Duman Defining Marketing Marketing is used for many things and in everyday life it is important for organizations to use marketing to make sure that the organization is a success. When an organization uses marketing it is important that they use planning it helps the organization to see who their target audience is and how they need to go about reaching them. Marketing is not just selling it is a way of selling and reaching the population that you need to reach. Marketing to me is how you promoting of a product or service, selling that product or service, and how an organization plans and distributes the product or service to the population of its target. Marketing is the performance of activities that seek to accomplish an organizations objective’s by anticipating customer or client needs and directing a flow of need- satisfying goods and services from producer to customer or client (Perreault, Cannon, & McCarthy, Chapter 1, 2011). Marketing Merriam-Webster an aggregate of functions involved in moving goods from producer to consumer (Merriam-Webster, n.d.). 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). In marketing and planning it is important to set a goal and plan to ensure that you reach...
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