Define Marketing and show examples
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Prepare a paper in which you define marketing. Include in your paper your 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.
Be sure to cite properly cite your sources in your paper.
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Solution Summary
This posting will define marketing (including Kotler's definition), and will look at the role marketing plays in organizations. It will also give 3 real world examples of the uses of marketing.
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Define marketing.
- this is a tough one, since I am a market researcher by profession, I understand how formal and far fetched "marketing" is.
- My definition of marketing is: a team of creative individuals who work to promote and advertise the product to place it firstly in the mind of consumers.
- The problem with this is that marketing in theory contains these following activities also known as the 4-Ps
- Developing the product
- Pricing the product
- Promoting the product
- Deciding what people to sell the product to
One formal definition from the American Marketing Association is:
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.
http://www.marketingpower.com/
Philip Kotler (marketing genious and author of many text books) states: http://www.learnmarketing.net/marketing.htm
Marketing is human activity directed at satisfying needs and wants through exchange processes.
Based on these definitions, explain the importance of marketing in organizational success.
Marketing is key for an organization ...
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