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Defining Marketing.

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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.

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Solution Summary

This solution reviews a definition of marketing and explains why it is important. Additionally, this solution provides one reference source for further research on the topic.

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Two definitions from external sources:

1) "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."

(American Marketing Association- http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx)

2) "The management process responsible for identifying, anticipating and satisfying customer requirements profitably."- Chartered institute of Marketing

My personal definition: Marketing can be defined as the set of activities ...

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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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