Please help me with some ideas so I can complete the following:
1. Prepare a response in which you define marketing.
2. Include in your paper your personal definition of marketing and definitions from two different sources.
3. Based on these definitions explain the importance of marketing in organizational success.
4. Provide at least three examples from the business world to support your explanation.
5. Be sure to properly cite your sources in your response.
Let's take a closer look at this interesting assignment by addressing each section, which you can then draw on for your final copy. I also attached one supporting article, some of which this response is drawn. I provided three marketing examples from the business world for you to consider for your business examples.
1. Prepare a 700-1,050-word 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 properly cite your sources in your paper. Please help 700-1,050 words paper.
Marketing definitions abound in the business literature. Certain aspects of the organization behavior support effective marketing operations. In one study, for example, the findings found four factors that survey participants say have contributed significantly to their Marketing Operations success:
1. Clarity and consistency across the organization-shared practices, a well-defined road map and enabling infrastructure, reinforced by clear and pervasive communications that keep everyone on the same page.
2. Executive advocacy and support to champion the value of the MO function in achieving the organization's objectives.
3. A culture of accountability and alignment that fosters buy-in at all levels and rewards productive behaviors consistent with the desired vision.
4. Processes and technology that are fully leveraged to achieve and sustain operational excellence (Katz, 2008).
By definition, marketing performs certain functions that are related to organizational success. One definition of marketing is: "the process of interesting potential customers and clients in your products and/or services" (Ward, 2009).
Another definition of marketing is this: "Marketing consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer" (Principles of Marketing, 2009).
In these marketing definitions, the word "process" is important as successful marketing involves the strategies and tactics involved in marketing researching, promoting, selling, and distributing the organizations products or services. Essentially, marketing involves strategies and tactics to introduce all potential customers to your product or service. Taken one step further, this process involves putting together a marketing program for a business, including the four key components of any marketing plan: products and services, promotion, distribution, and pricing (Ward, 2009).
Marketing involves strategies and tactics. Strategies give direction to the marketing effort takes over some period of time while tactics are actionable steps or decisions made in order to follow the strategies established. For instance, if a company's strategy, like KFC, is to begin selling its products (chicken) in a new country, the tactics may involve the marketing decisions made to carry this out, such as researching the markets, promoting, selling, and distributing the chicken through franchises overseas. Performing strategic and tactical planning activities in advance of taking action is considered critical for long-term marketing success. In fact, successful franchise operations such as Kentucky Fried Chicken (KFC) have made inroads in countries as diverse as China (Chicago Sun-Times, 1993). Since the early 90s, through effective marketing strategies and tactics, KFC is the largest international player and expanded at the rate of 250 to 300 a year and reached the predictions in the early 1990s that within five years it will derive two-thirds of the chain's total revenues from international outlets. In fact,
KFC's international corporate planners earmarked Europe, South America and the Pacific Rim as holding the most promising expansion opportunities (Prewitt & Kegan, 1991), which has been occurred mainly due to effective marketing strategies and tactics.
EXAMPLE 1: (excerpt) (attached)
The role of marketing within Pizza Hut is to ensure that the needs of customers are met whilst ensuring that the business makes money! Pizza Hut has a broad range of customers, as pizza is extremely popular to a wide variety of people. The first task is to understand our consumers by living our first value of customer mania.
We invest considerable resources in researching who our customers are and their needs. For our Full Service Restaurants our primary customer segment is ...
By discussion and examples, this solution assists in defining marketing providing information from various sources, and explores the importance of marketing in organizational success. References are provided in APA format.