In this paper I will define marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I will show the importance of marketing. Marketing applies to many different areas of an organization and after close review I will make it clear on how it relates.
Marketing is how a company or organization promotes the service or product the company uses to create revenue. After closely reviewing the needs of the public in an area or the market and the product or service is revised to accommodate these needs, a marketing plan would be created and executed.
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2007)
• “American Heritage Dictionary's Definition of Marketing
The commercial functions involved in transferring goods from producer to consumer.2
• Merriam Webster's Marketing Definition
1 b: the process or technique of promoting, selling, and distributing a product or service
2: an aggregate of functions involved in moving goods from producer to consumer 3
• Marketing Definition From MSN Encarta Dictionary
the business activity of presenting products or services to potential customers in such a way as to make them eager to buy. Marketing includes such matters as the pricing and packaging of the product and the creation of demand by advertising and sales campaigns.4
Note the phrasing: "The process", "functions involved", "process or technique", "an aggregate", "the business ...
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...packaging has made the difference. I know this plan is working as the scent that I like is always the one that is sold out.
While improving packaging is one part of marketing, more importantly is the process and how it is executed. Making sure the process is executed and the steps have been properly researched will ensure success. If there have been no studies in the current market for what may be needed then trying to sell plasma televisions in a third world country may not be to successful.
I have defined marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I have shown the importance of marketing. Marketing applies to many different areas of an organization and after close review I hope to have made it clear on how it relates.
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