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Define marketing. Include 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 properly cite your sources.

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Solution Summary

By example and discussion, this solution explores the concept of marketing. References in APA format.

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Let's take a closer look to help get you started on this interesting assignment. You will need to consider developing your personal definition of marketing. I also attached one resource on Dell's success story, some of which this response is drawn for further consideration.

RESPONSE:

Marketing is related to sales and advertising, but it is distinct as well. Marketing involves the marketing mix (product, price, place and promotion). It involves researching the target market in order to determine a need and to create a product to meet a consumer need and demand, a service or product that they want to purchase. Marketing is the process of planning and executing the initial idea, products and/or services, as well as the pricing, promotion, and distribution to satisfy individual and organized needs. Marketing is perhaps one of the most important functions in a business, because without marketing, there are no sales or revenues, and consequently, no business. However, marketing also involves public relations to attract a target market to the organization's product or to communicate to the consumer when a product is recalled. For instance, take Toyota who has had a good reputation for quality, but with the recent recalls, even if their products are in still demand and most of them safe, the public's negative perception of the company might be felt for years to come if the recall incident is not dealt with carefully through public relations.

One definition to consider for your paper is this:

"Marketing is the business function that identifies customer needs and wants, determines which target markets the organization can ...

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