Marketing an important part of the business organization, it is more than promoting and selling a product. Marketing is satisfying the changing needs of the customer. The very successful businessman Bill Gates can best sum this up when he said, "Your most unhappy customers are your greatest source of learning ". The purpose of this paper is to define marketing from at least two different sources, based on these definitions explain the importance of marketing in organizational success. Also, provide at least three examples from the business world of the importance of marketing to the organizational success. According too the American Marketing Association marketing is defined as: 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. Marketing is more than selling and promotion, the primary concern, or objective of marketing is to identify and satisfy, or exceed the changing needs of customers. In view of this broad concern of marketing, it can be seen that the concept of marketing summarizes many activities in a business. Marketing, in fact, refers to any activity undertaken by a firm that has been designed to plan, price, promote and distribute ideas, goods and services to target markets. These marketing activities were executed in order to create an exchange and sales that will result in the achievement of the proprietors' individual goals and the firm's goals, both in the short-term and the long-term. It is then obvious that marketing forms an integral component of organizational strategies. The Webster's definition of marketing is " (1) The act or process of buying and selling in a market. (2) The commercial functions involved in transferring goods from producer to consumer." The comprehension of the functionality and need for marketing is a good starting point in understanding what's...
References: Perreault W., Jr. & McCarthy E., Basic Marketing, (2005), (15th ed.)
McGraw-Hill/Irwin, New York, NY
American Marketing Association, Marketing definition Dictionary, Retrieved from the World Wide Web, December 1, 2005 at http://www.marketingpower.com
Bill Gates, Business @ The Speed of Thought, US computer software designer. Retrieved from the World Wide Web, December 2, 2005 at http://www.quotationspage.com
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