January 15, 2013
Marketing is a key element to the success of every business for profit and non that expects to thrive in an ever changing economy with everyone competing for consumers business. In this paper marketing will be defined by the writer’s personal definition, based up what he thought it meant prior to reading chapters from week one and some minor research. Also, marketing will be defined by two different sources other than the writer. Based on the definitions an explanation of the importance of marketing in organizational success will be discussed and three examples from the business world will be given to support his explanation. The raw definition of marketing with no prior experience and only speaking from speculation is marketing is the afterthought once a product is developed. It is the process that occurs to reach potential customers by making it appealing to them as if they need it. That is done by reaching out to consumers through many different channels such as radio, internet, banners that slide across cell phones durring free listening on Pandora radio and television commercials during the NFL playoffs. After reading chapter one in the text of Basic Marketing: A Marketing Strategy Planning Approach it was learned that marketing occurs well before products are developed. Marketing is defined as the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client (Perreault, Cannon, & McCarthy, 2009). After checking another source it was concluded that there may be many definitions to marketing. In the text of Marketing: An Introduction marketing is defined managing profitable customer relationships, to attract new customers by promising superior value and to keep and grow current customers by
References: Armstrong, A. R., Hartley, S. W., Berkowitz, E. N., & Rudelius, W. (2009). Marketing (9th ed.). New York, NY: McGraw Hill. Armstrong, G., & Kotler, P. (2009). Marketing: An introduction (9th ed.). Upper Saddle River, NJ: Pearson Education. Perreault, W. D., Cannon, J. P., & McCarthy, E. J. (2009). Basic marketing: A marketing strategy planning approach (17th ed.). New York, NY: McGraw Hill.