...Defining Marketing Paper MKT/421 Defining Marketing Paper Marketing can be a general term used in businesses and can be misconstrued as the simplicity of advertising a product to sell. However, after researching and defining the term marketing it is clear there are various components that make up the marketing concept. Marketing can prove to be the basis of an organization’s success if it is properly implemented and utilized. Every company uses marketing to drive their business in a profitable direction and through some example companies below it will be obvious how marketing is vital to an entity’s success. Personal Definition of Marketing The definition of marketing in the words of the writer is the foundation of every company that is used to create, plan, and execute a successful product. This concept is derived from the research of a marketing department to improve or create a product that is appealing to consumers. Marketing from Other Sources While other definitions can be found throughout the business world, the ones chosen here give a good explanation and definition of what marketing truly means and the significant role it plays in the success of an organization. Marketing Definition 1 The business dictionary describes marketing as “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...
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...Defining Marketing A person can define marketing in a number of ways. It can evolve from a simplistic approach to one with much more depth. After evaluating the trend of the definition, the term can then be placed with a company to evaluate its success or failure with applying marketing strategies. This paper discusses Shimano Inc.’s approach toward consumer, business, and global markets. Definition of Marketing People have a number of interpretations for the term marketing. One person may construe the concept as an advertisement ploy in which a seller attempts to offer goods or services to an individual or group for a cost. The American Marketing Association (AMA) can build upon this raw observation. The AMA (2007) states “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.” Four years after the AMA defined marketing, another set of authors defined marketing in a similar form but included a strategic approach. Perrealt (2011) states “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” (p. 6). The distinction between the last two formal statements may arise from the financial meltdown that occurred at the end of the decade (Lim, 2009). Marketing adapts...
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...Defining Marketing MKT 421 Defining Marketing This essay will provide a personal definition of marketing in comparison with a textual definition of marketing. Also included will be examples from the author’s personal experience, as well as the business world that support both perspectives and definitions of the term. A Personal Definition of Marketing Super Bowl 2013 has come and gone. While many consumers enjoyed the hilarity and creativity of the anxiously awaited commercials, many of the ads have been forgotten. This consumer, however, will never forget the impact of the Calvin Klein commercial. The entire advertisement was directed toward the female viewer although the focus was on male underwear. For those who did not have the opportunity to view the commercial, this assessment will be lackluster. For the numerous women, who undoubtedly viewed and remember the chiseled, handsome model adorning form-fitting underwear while shopping for their own husbands, Calvin Klein is surely a brand that will be considered. Products and services were not the only items marketed throughout airing of the Super Bowl. Perhaps the most memorable marketing attempt made during the Super Bowl is the half time show. The show may not be commonly thought of as marketing but in essence the show serves as a reminder that older performers still possess the same energy and skill, thus creating a new market or re-engaging faithful fans. This year’s half time performance served as marketing...
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...Kudler Fine Foods By Desiray Kobel MKT 421 Marketing Kudler Fine Foods is a gourmet grocery store that was open to find the exotic ingredients for the fine dining in one place. Kudler has a bakery department, meat and seafood department, produce department, cheese and dairy department, and a vast wine selection. Kudler has been opened since 1998 and has three other locations with a possible fourth on the way. Kudler is a California based location in all three companies. Kudler is open on Monday- Saturday from 10am-6pm, and on Sunday from 11am-4pm. Kathy, the owner of Kudler thanks every customer for their patronage. Kudler is about to go on a marketing adventure to launch the possible fourth company opening. Kudler would like to expand the amount of customers that are currently shopping at the gourmet grocery store; to do this Kudler needs to do marketing research. In order for Kudler’s expansion proposition to take affect the appropriate marketing steps need to be executed. The importance of a well thought out marketing strategy is so when the new grocery store is opened the customers will want to shop there because of the marketing that has been set into place. The first step to be taken is a good marketing campaign that introduces the company to its new locations customers, let the new customers know the companies goals and the products that will be provided. The second step is to make sure that the company is still advertising the other locations so there...
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...Marketing Research for Kudler Fine Foods Joyce Liupaogo MKT/421 - Marketing April 9, 2012 Gregory Rankin Marketing Research for Kudler Fine Foods Marketing research is a type of business study that gathers records and analyzes data about consumers, competitors and the market. Marketing research can help create a business plan, launch a new product or service, expand into new markets, or fine tune existing products and services. Businesses use market research to configure which parts of the population will purchase their products based on variables such as age, gender, location and income level. “Marketing research finds the characteristics of target markets and plays an important part in an organization’s strategy of expansion (Kotler & Keller, 2012).” Kudler Fine Foods is an upscale specialty food store. Its mission is to provide customers the finest in selected foodstuffs, wines, and related needs in an unparallel consumer environment. “Kudler Fine Foods has experienced significant growth and is now focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers (Apollo Group Inc., 2011).” Marketing research is important to Kudler Fine Foods since they are expanding their services. Marketing research will help develop a plan for Kudler Fine Foods’ expansion and help them identify their strengths and weaknesses. In addition,...
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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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...Defining Marketing Jennifer Hoff MKT/421 May 29, 2012 Craig A. Clark Defining Marketing “The 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 goods from producer to consumer." http://www.merriam-webster.com/dictionary/marketing. Look around you and take in all that you see. Billboards, banners attached to an airplane flying in the sky on a sunny Saturday or Sunday afternoon, brightly light up flashing e-signs along the highway. What comes to mind? Who is paying the most money to promote the next best thing? In business inventors and investors strive to create and attract the consumer to buy their product over the competition. Take Apple and Samsung for example: Apple holds the ever popular iPhone, Samsung, the Galaxy S and SII and coming to the market in a couple months the most sought after phone as far as the market of followers in the Galaxy family the Galaxy SIII. What the iPhone started the Galaxy has perfected. A phone that recognizes its user and identifies with its user as if it were a living breathing entity; has the smart phone really become a part of our lives so much that we have a technological companion? Yes, it really has. With a company whose roll out slogan has scripted ever so cleverly “Designed for Humans Inspired by Nature” (http://www.samsung.com/global/galaxys3/) Without the clever and entertaining slogans and catchy tunes of marketing and advertising...
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...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 or...
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...Defining Marketing Kira Johnson MKT/421 February 23, 2014 Thomas O'Brien Defining Marketing When I think of marketing, I think of how a company tries to promote itself and their items. Merriam-Webster Dictionary (2014) states that “marketing is the activities that are involved in making people aware of a company’s products, making sure that the products are available to be bought, etc.” According to Perreault, Cannon, and McCarthy (2011), “marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing flow of need-satisfying goods and services from producer to the customer or client.” Marketing is a key element for any business as it is what brings the customers in to purchase products or call for services. A good advertisement is placed in all the right places and consumers know to whom it is being directed towards (age group, gender, and ethnicity). When a company advertises their product, or services, over multiple areas they are more likely to get the consumers that the product is aimed towards; good advertising could include, but is not limited to: television commercials, radio commercials, newspaper ads, magazine ads, and social media. A lack of advertising will not bring consumers in for that certain product or service, and poor advertising could leave consumers upset as the product is not what they expected it to be or as seen in advertisements. In 1999, Kellogg’s...
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...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 charge...
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...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 had...
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...MKT/421 Defining Marketing Paper Marketing Paper Marketing an important part of the business organization, it is more than promoting and selling a product. Marketing is satisfying the changing needs of the customer. The very successful businessman Bill Gates can best sum this up when he said, "Your most unhappy customers are your greatest source of learning ". The purpose of this paper is to define marketing from at least two different sources, based on these definitions explain the importance of marketing in organizational success. Also, provide at least three examples from the business world of the importance of marketing to the organizational success. According too 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. Marketing is more than selling and promotion, the primary concern, or objective of marketing is to identify and satisfy, or exceed the changing needs of customers. In view of this broad concern of marketing, it can be seen that the concept of marketing summarizes many activities in a business. 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. These marketing activities were executed in order to create an exchange and sales...
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...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...
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...Defining Marketing Paper Philip Bean University of Phoenix Marketing MKT/421 Susan Tomaski December 2, 2013 Defining Marketing Paper All definitions of marketing will seek to describe a sometimes logistically complex process of interacting within an economy. However, before an organization begins the marketing process good it is good advice to thoroughly research the current strategies and tactics being used and only use ones that are based on proven economic theory. According to the Merriam-Webster dictionary marketing is “the act or process of selling or purchasing in a market”. While there are 4 other definitions provided this is the simplest to understand. According to the text provided in this class marketing is “the performance of activities that seek 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.” My personal definition of marketing is a set of practices that completely satisfy all parties involved in a business venture including the costumer. Some of these practices might include: Products, pricing, promotion, and placement. Of course there will many variations of these concepts and I believe they can be most useful in low end consumer based markets. I believe from my personal experience that this is what marketing basically is and what it involves. The basic concept of marketing has evolved from an old world barter...
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...Defining Marketing April D Coats MKT 421 June 4 2012 Bob Balcerzak Defining Marketing When thinking about marketing a couple of things come to mind. First, would be the sales of a product. What do you have to do to get someone to buy this product and how you are going to get them to want it? Second would be how they are going to advertise this product. What can we do or say that is going to catch people’s attention and make them want to purchase it? A bar and grill is all about selling and advertising. They want to advertise things to a certain age group to bring in the crowds and make money. They will advertise on things like evens that will also bring in the crowd of people that they are looking for that are willing to spend money for great food, service, and a good time. There is more to marketing and just advertising and sales and when you think of marketing it can be defined in many different way. Marketing is viewed in two different ways Micro and Macro Marketing. Micro Marketing or just Marketing as defined by Perreault, Cannon and McCarthy “is the performance of activities that seek to accomplish an organizations objective by anticipating customers or client needs and directing a flow of need satisfying goods and services from producer to customer or client”. Marketing is more than just selling and advertising a product. Marketing is more about meeting the needs of its customers and if you meet their needs with little to no advertisement and they like the product...
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