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Marketing: Importance of Marketing in Organizational Success

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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.

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The solution discusses the importance of marketing in organizational success.

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Marketing is a process. A company identifies needs and wants and applies this knowledge to create products and/or services to meet them. The company then finds the best ways to communicate with the audiences, place in the market, sell the product, and generate more sales. The process includes pricing, placement, the product, and promotion.

According to inventors.com, marketing is an activity. The activities and strategies used make products available to satisfy customers while making profits for the company from the sale of those products.

"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." (Keefe, 2008)

References
Keefe, L.M. (2008) Marketing Defined. Marketing News 15 Jan. ...

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