...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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...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 goods...
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...Defining Marketing Marky mark MKT-421 February 10, 2014 Henry Tran Marketing can mean many things to different people. My personal definition of marketing is making demand for your product. Many times new products do not have a high demand either because people do not know anything about the new product or people do not have a need for the new product. Marketing is used to create awareness of the product you are pushing and it is also used to educate people on what your product does and how to use it. Once the public is educated they themselves begin to create their own need for the product and therefore bring the demand up. According to “investopedia” (2014), Marketing is “The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people.” “BusinessDictionary.com” (2014), states that Marketing includes the coordination of four elements, which are Product, Price, Place, and Promotional strategy. Based on these definitions marketing is very important for organizational success. You first of have to have a product that is usable and that product has to be sold at a reasonable price. It must be sold in a place that is logical and it has to be promoted adequately. The product offered has to be able to do what it is intended to do. It has to be priced fairly. The market is analyzed for a similar product and the new product is priced based off of that. If the product is...
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...Defining Marketing Marketing is a vital aspect to every company for growth, longevity, and prosperity. According to "Marketing" (2014), “Marketing is the process of communicating the value of a product or service to customers, for the purpose of influencing buyer behavior and/or precipitate behavioral change.” Marketing, according to the Merriam-Webster (2014), is activities that direct the flow of goods and services from producers to consumers. My personal definition of marketing is a way of getting consumers to purchase a certain product that a company is manufacturing to increase the sales of the company. Marketing is about the value of the product and how the company can create a demand for the product. The importance of marketing in organizational success is to make sure that the products and goods being made are also being advertised to potential consumers. To have organizational success will depend on the customers buying or using the products and services that are provided. Even if the company has the most valued and newest product on the market, if there is not an organized marketing plan then nobody would know about the product and sales would crash. Creating awareness about the products or services gives consumers the opportunity to know what is being sold and gives the sales teams opportunity to convince them to buy the product or service. Having organized marketing plans helps maximize market shares, create loyal customers, and making the product part of a big...
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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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...Running head: DEFINING MARKETING Defining Marketing MKT 421 March 23, 2014 Defining Marketing Business dictionary.com defines Management 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, (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”. Merriam-Webster.com defines Marketing as “1. 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 2. a: an aggregate of functions involved in moving goods from producer to consumer”. My personal definition of Marketing is a plan that a management team creates to promote and or to sell a product or services. There are some positives and negatives when marketing is incorporated into the sales of a business. When there is an established marketing department that generate leads for their sales team, allows for a steady cash flow. Marketing departments that set leads in sales for a business maintain a consistent flow. They first of all find the lead; make the sale then go back to find more leads, resulting in no profits earned and not profitable enough to plan for the future. The sales departments know the product they are trying...
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...Defining Marketing MKT 421 Defining Marketing When discussing marketing, many people believe that it involves selling and advertising. This is true, but more is involved when speaking about marketing. “Marketing drives organizations to focus on what it takes to satisfy you, the customer” (Perreault, 2009). An organization must take the initiative to be able to know their customers and what their needs are, as well as using innovation to develop new ideas and goods. “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” (Gundlach, 2009, p. 90). Organizations offer goods and services to consumers and customers, but finding a way to market those goods and services to prospective clients is the major key to success for any organization. Marketing is a main point included within business management. Organizational Success Marketing has a high importance involved with organizational success. The purpose of marketing is for organizations to adapt their, “marketing strategy to changing market conditions” (Perreault, 2009). Based on the definitions stated in regard to marketing, different areas of organizations are affected including career opportunities, innovation, and standard of living. Marketing goods or services, if it goes well can provide new career opportunities because of growth within the organization. Innovation inspires...
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...Defining Marketing Amy Rasband MKT/421 October 24, 2011 Ricci Rizzo Defining Marketing The American Marketing Association (AMA) defines marketing as “an original function and a set of processes for creating, communicating, and delivering value to customers for managing customer relationships in ways that benefit the organization and its stakeholders” (American Marketing Association Dictionary, 2007). The World Marketing Association (WMA) definition is equally accurate. The WMA definition states, “marketing is the core business philosophy which directs the processes of identifying and fulfilling the needs of individuals and organizations through exchanges which create superior value for all parties” (Chapman, 2003, p. 1). My personal definition of marketing is the process that identifies and implements steps to obtain the attentions of a specific target market, establishing the desire for a good or service with the goal of earning and retaining customer business that provides a positive value for the buyer and seller. According to the text, Basic Marketing, defines the term marketing as “performing activities seeking to accomplish an organizations objective through the anticipation of customer needs and directing the flow of need satisfying goods and services from producer to client or customer” (Perrault, Cannon, & McCarthy, 2009. p. 6) Marketing is an integral part of an organizations success and when combined with flexibility and cultural...
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...Defining Marketing MKT/421 June 19, 2013 Thomas Westover Defining Marketing No matter how hard a person tries they cannot avoid marketing, to me marketing in an activity that promotes profitability. Products cannot sell themselves, it’s not only about presenting a product or service to consumers but it also involves designing products that appeal to consumer. I have two entrepreneurs in my family based on my experience with them the hardest part of owning a company is maintaining a client base, in order for them to do that they have to continuously change their marketing plan and revamp product lines. To me marketing is all about profitability and the steps that required to maintain it, in reality marketing is comprised of “The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion.” (Investopedia, 2013) which is how I would choose to explain it in not so many words. The definition of marketing varies from one online source to another for example “Marketing is an activity. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products...
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...Defining Marketing MKT421 August 5, 2013 Cassandra Baker Defining Marketing Marketing is an important element in the business organization. It is more than selling and promoting a product. It is meeting the needs and satisfaction of the customer. Personal Definition of Marketing Marketing is the erection of a relationship between a business, goods, and a consumer by grasping the value of their needs. Understanding the needs of the consumer is essential for a successful marketing campaign for a business. It is about making things more desirable for the consumer. Marketing From Other Sources There are different types of marketing, and it is defined in many ways. Marketing Definition 1 Marketing can be defined as the process or technique of promoting, selling, and distributing a product or service (“Merriam-Webster”, 2013). Marketing is used both to increase sales of an existing product and to introduce new products (“Merriam-Webster”, 2013). Marketing Definition 2 Marketing is a general term used to describe all the various activities involved in transferring goods and services from producers to consumers (Hillstrom & Hillstrom, 2002). In addition to the functions commonly associated with it, such as advertising and sales promotion, marketing also encompasses product development, packaging, distribution channels, pricing, and many other functions (Hillstrom & Hillstrom, 2002). Marketing concepts, which is used by many companies...
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...Defining Marketing MKT/421 May 16, 2012 Defining Marketing * In this paper I intend to go over the term “Marketing”, what its meaning is by definition as well as how I portray it in my own views currently. I intend to inform you of how marketing is of importance to an organization and also how it can provide success to them as well. Also just to show some of my personal experience with the marketing portion of a business in which I was involved in and with for some local store marketing. To begin though I will first give you my interpretation of what marketing means to me. To me marketing is a form of putting yourself out there to the public, a presentation in which you are presenting your service. The service can be many different things, from foods, clothing, cleaning anything in general to which a consumer would have to go out and purchase to gain access of. This is my meaning of the word; however 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.” (2012) According to (Dictionary.com, 2009) marketing is defined by “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.” (2009) After taking in the three different variations of the meaning of the...
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...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 Dictionary...
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...Defining Marketing In the following information, the definition of marketing is further analyzed, a personal description of the authors’ expectations of marketing, as well as definitions provided from other sources and the importance of marketing in organizations success. Furthermore, real life examples will be provided as a better insight to what marketing really is defined as. Author’s Definition of Marketing In the authors’ perspective of the definition of marketing, is the research of target markets; learning about how to sell the product, finding the location that the product may be the most successful; and learning how to adapt the product in areas that may have different values and morals. This is a strong though process that needs to be addressed in order to proceed with the sale of any product. The success of the sales department relies on the details and procedures that the marketing department pursues and accomplishes. Other Source Definition According to Marketing Power (2007), “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. Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve...
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...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 their...
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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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