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Defining Marketing with sources and examples

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Resource: University Library

Write 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. Properly cite sources used in the paper.

Format your paper consistent with APA guidelines.

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Solution Summary

Approx 840 words and 5 references

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Abstract

This paper will define marketing. It will cover a personal definition of marketing and two other definitions from other sources. It will address the importance of marketing in organizational success, providing three examples from the business world to support the explanation.

Defining Marketing

Marketing is getting the message or information out about a product or service to the consumers and having them purchase the items because they have a need for them. "Marketing is 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 (AMA, 2011)." The Business Dictionary (2011) states that marketing is: "The management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called four P's (Business Dictionary, 2011):

1) Identification, selection, and development of a product
2) Determination of its price
3) Selection of a distribution channel to reach the customer's place
4) Development and implementation of a promotional strategy

The Importance of Marketing in Organizational Success

In order to attain the goal of success in marketing various products, the organization needs to have a great and strong marketing strategy. The first thing to do to make sure the foundation of the marketing ...

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