Defining Marketing Week 1 MKT 421
Defining Marketing MKT 421
Aug 15 201X
Stephen
Defining Marketing
Marketing is one of those actions that many people do not fully understand the power of and exactly what benefit there is to marketing. Some may think that marketing is a division that could better be served by being eliminated while others place value on the impact of marketing. When asked how marketing benefits an organization my first thought is that it is an effort for any organization to put a face on what it is they do, how they do it, and how well they do it. In order for companies to be successful it is important to get their name and brand out to the general public in a manner where it leaves the competition a step or two behind. The Business Dictionary, "What Is Marketing" (2013), defines marketing as: “The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P 's of marketing: (1) identification, selection and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer 's place, and (4) development and implementation of a promotional strategy.” The American Marketing Association, "Definition of Marketing" (2013), defines marketing as “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.”
Marketing is extremely important to any organization and to the overall success achieved by organizations. The heart of any business success lies in the strength of its marketing. Most aspects of any organization or business will depend on successful marketing. A sound marketing plan will include advertising, public relations, promotions and sales. Marketing is the way a business or organization will introduce the product or service to potential customers. Without an effective marketing operation an
Aug 15 201X
Stephen
Defining Marketing
Marketing is one of those actions that many people do not fully understand the power of and exactly what benefit there is to marketing. Some may think that marketing is a division that could better be served by being eliminated while others place value on the impact of marketing. When asked how marketing benefits an organization my first thought is that it is an effort for any organization to put a face on what it is they do, how they do it, and how well they do it. In order for companies to be successful it is important to get their name and brand out to the general public in a manner where it leaves the competition a step or two behind. The Business Dictionary, "What Is Marketing" (2013), defines marketing as: “The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P 's of marketing: (1) identification, selection and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer 's place, and (4) development and implementation of a promotional strategy.” The American Marketing Association, "Definition of Marketing" (2013), defines marketing as “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.”
Marketing is extremely important to any organization and to the overall success achieved by organizations. The heart of any business success lies in the strength of its marketing. Most aspects of any organization or business will depend on successful marketing. A sound marketing plan will include advertising, public relations, promotions and sales. Marketing is the way a business or organization will introduce the product or service to potential customers. Without an effective marketing operation an
References: What is marketing. (2013). Retrieved from http://www.businessdictionary.com/definition/marketing.html Definition of Marketing. (2013). Retrieved from http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx Lorette, K. (2013). The Importance of Marketing for the Success of a Business. Retrieved from http://smallbusiness.chron.com/importance-marketing-success-business-589.html