Importance of Marketing
Running head: THE IMPORTANCE OF MARKETING IN ORGANIZATIONS
The Importance of Marketing in Organizations
Verisha Barrett
University of Phoenix
Marketing
MKT/421
Marc Mosko
Apr 22, 2006
The Importance of Marketing in Organizations Marketing has become one of the most critical increasing forces which drive today’s companies. With marketing a company has power to carefully plan and implement the strategies to make a company successful. I view marketing as everything a company or a person would do to advance the company or business. According to Wikipedia, 2006, Marketing is "the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals."(Wikipedia, 2006, p. 1) Another definition, perhaps a more easier way of explain marketing is “the analysis of customers, competitors, and a company, combining this understanding into an overall understanding of what segments exist, deciding on targeting the most profitable segments, positioning your products, and then doing what 's necessary to deliver on that positioning.”(Weiss, 2002, p. 3) Marketing influences our everyday life. It influences the goods done by consumers and industries, marketing also influence a company’s services and ideas. Marketing is composed of various functions. These functions are needed in order for a company to become successful. Some of these functions are: buying, selling, transporting, storing, financing. A company becomes successful by how developed its market plan is. Marketing plan along with financial and management plans will determine how far well a company will succeed. When a company can determine what its customers like, expects and dislike, that company is on the road to success. Have an effective marketing also allow a company to know its competitors’ weakness and strengths. When a company can identify their customers’
The Importance of Marketing in Organizations
Verisha Barrett
University of Phoenix
Marketing
MKT/421
Marc Mosko
Apr 22, 2006
The Importance of Marketing in Organizations Marketing has become one of the most critical increasing forces which drive today’s companies. With marketing a company has power to carefully plan and implement the strategies to make a company successful. I view marketing as everything a company or a person would do to advance the company or business. According to Wikipedia, 2006, Marketing is "the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals."(Wikipedia, 2006, p. 1) Another definition, perhaps a more easier way of explain marketing is “the analysis of customers, competitors, and a company, combining this understanding into an overall understanding of what segments exist, deciding on targeting the most profitable segments, positioning your products, and then doing what 's necessary to deliver on that positioning.”(Weiss, 2002, p. 3) Marketing influences our everyday life. It influences the goods done by consumers and industries, marketing also influence a company’s services and ideas. Marketing is composed of various functions. These functions are needed in order for a company to become successful. Some of these functions are: buying, selling, transporting, storing, financing. A company becomes successful by how developed its market plan is. Marketing plan along with financial and management plans will determine how far well a company will succeed. When a company can determine what its customers like, expects and dislike, that company is on the road to success. Have an effective marketing also allow a company to know its competitors’ weakness and strengths. When a company can identify their customers’
References: Stasch, S. F., & Tang, C. (2003). Characteristics of Successful Corporate New-Business Venturing. Retrieved April 25, 2006, from http://www.uic.edu/cba/ies/2003Papers/Stasch-Tang.htm Weiss, A. (2002, November 26;). What is Marketing. Retrieved April 25, 2006, from http://www.marketingprofs.com/2/whatismarketing.asp Wikipedia (2006, April 24;). Marketing. Retrieved April 25, 2006, from http://en.wikipedia.org/wiki/Marketing