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Marketing

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I want to prepare a 700-1,050-words, I want to define marketing. Include in the information a personal definition of marketing and definitions from two different sources. Based on these definitions explain the importance of marketing in organizational success. Provide at least three examples from the business world to support your explanation.I will need 2 or 3 references.

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The response address the queries posted in 1065 words with references.

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The response address the queries posted in 1065 words with references.
//This query is based on basic concepts of marketing in which you are required to define 'Marketing' with the help of some sources. In addition to this, you are asked to explain the importance of marketing in the success of an organization with the help of three examples. I am going to assist you on this topic, which will help you to satisfy your query and increase your knowledge. See the text below: //

Marketing

'Marketing' can be referred to a process in which, organizations seek to identify and satisfy the customer needs. In this process, companies offer several products & services to customer for profit making. The process of marketing includes planning, executing, pricing, promotion and distribution of goods & services to meet the customer requirements and accomplishing the organizational goals. During the process of marketing, companies utilize several strategies for identifying, formulating and keeping a harmonious relationship with customers, in order to create value for themselves and customers.

Philip Kotler defines marketing as a human activity, which involves a process in which people satisfy their requirements with the help of exchanging products & services with each other (Kotler, 2002). The social definition of marketing expresses marketing as a social process in which an individual or group meet with their requirements with the help of creating, supplying and exchanging value products & services. According to Peter Drucker, who is a leading management theorist, marketing is more merely associated of selling; instead, it is directed towards identifying and understanding customer needs and developing the products, as per their requirements.

According to the American Marketing Association, the process of marketing includes planning, developing, pricing, promoting and distributing products, services and idea for accomplishing individual, as ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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