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Marketing Phase 1

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Marketing is important to the success of any business. Marketing is the process or technique of promoting, selling, and distributing a product or service (Merriam Webster, 2013). Most consumers want to know about a product or service before they purchase. The consumers’ wants and needs are important to marketing. Marketing gains the attention of consumers. Another definition for marketing is the management process through which goods and services move from concept to the customer (Business Dictionary, 2013). However, this definition includes four elements of marketing. The first is identifying, selecting, and developing of a product or service. The second is determining the price of the product or service. Third is the selection of the distribution place. Last is the development and implementation of a promotional strategy. Marketing is one of the important business functions that a lot of companies ignore. So having the right merchandise, offering the appropriate services, and choosing the right location are the key elements in having a marketable product or service. Marketing is based on thinking about the business in terms of customer needs and their satisfaction (Business Dictionary, 2013). Marketing is important to business because it leads to the success of the company. The distribution and production of a service or product depends on marketing. Marketing has less to do with getting customers to pay for your product as it does developing a demand for that product and fulfilling the customer's needs. Companies must market their product in a way that attracts the consumer, so marketers must set up a successful market plan of the product or services to create a demand that will provoke consumers to purchase their product or services. Marketing is competitive for any business. However, marketers must be creative and keep the consumer focus to succeed.

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