MKT421 WEEK 1 Individual - Defining Marketing Paper

Write a 700- to 1,050-word paper in which you define marketing.

• Include your personal definition of marketing and definitions from two different sources.
• Explain the importance of marketing in organizational success, based on these definitions.
• Provide at least three examples from the business world to support your explanation. Properly cite sources used in the paper.

Format your paper consistent with APA guidelines.

Defining Marketing Paper

University of Phoenix

Marketing

Defining Marketing

When individuals are asked to define marketing, chances are that, most of their responses, will be different. Creativity can be liable for the broad spectrum of answers one would get. This paper will cover various aspects of marketing including a personal definition of marketing and definitions from two different sources, an explanation of the importance of marketing in organizational success, and three examples from the business world to support such explanation.

Definitions My interpretation of marketing is the way a business decides to promote their brand, the strategy that they use to reach out to their customers and intended end users. Although creativity plays a large role in marketing, research is also a key factor; if a company does not know its market, then its marketing will be unsuccessful. According to Kotler and Keller marketing is defined 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” (Kotler & Keller, 2012, pp. G-5). On the other hand, according to Perreault, Cannon, and McCarthy (2011), marketing is defined as “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or