MKT421 Week 1: Defining Marketing And Organizational Success
Assignment: Defining Marketing Paper
MKT421 Version 12
Marketing
University of Phoenix
March 21, 2013
Defining Marketing
In this paper, the author’s personal definition of marketing as well three definitions from different sources are provided. The author also explains the importance of marketing in organizational success. Lastly the author provides three examples from the business world to support her explanation.
“Marketing is 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, page 6, 2011). Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “meeting needs profitably” (Kotler , & Keller, page 5, 2012). In 2008 AMA 's definition of marketing was: “Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at …show more content…
large.” The author 's definition of marketing after reading the learning material is that marketing is an ongoing communication exchange not only with costumers or buyers of products and services, but also look for receptors that need to buy specific ideas. Marketing includes diverse activities for businesses that help them to identify customers for their products and services. Marketing targets potential clienteles with advertising by creating in a way a new need for their products or services and generating all kind of innovations that potential consumers cannot resist the desire to obtain them.
In today’s market, companies that want to be successful are facing many complex challenges. These obstacles often affect their rate of permanence and their profits. Companies internationally recognized and that had set high standards struggle daily to maintain their status quo in the marketplace, and their survival depends on their Marketing strategies. Marketing is a vital component to the prosperity of all businesses regardless their size, and if it is for profit or nonprofit. Expensive, and extensive marketing tactics are used to get new clients, brand products, and even in obtaining sponsorship in fundraising events, or simply by trying to influence behaviors as was observed in the last American presidential campaign. According with Matea Gold, in the past election an “acceleration spending by outside groups in the final weeks of the 2012 campaign will drive total spending on federal elections this cycle to a record $6 billion, according to a new analysis by the nonpartisan research group Center For Responsive Politics. That tops the record set in 2008 by $700 million, making this campaign the most expensive in U.S history” (la times, 2012). Marketing tactics are made to encourage customers to buy, and therefore multiply their sales and profits. Regardless if the organization goal is for-profit or nonprofit, the main objective is to provide quality products and services for their customers. The primary goal of a business is to be sustainable. Therefore, the organizational success of a business depends on their customers’ willingness to purchase or use the services and products that they can provide. This is why some companies are creating new strategies to get clients from their competitors.
Recently, Amazon have increased it success in the - world with the innovation of products and services.
“Amazon, which already offers digital movies/TV shows for rent and purchase on an individual-transaction basis, has launched a new streaming service making 5000 titles available at no additional cost to members of Amazon Prime, its membership program through which customers pay $79 annually for unlimited free shipping” (Kuzyk 2011. Amazon management have been successful anticipating the cyber-consumers trend by positioning themselves in a strong position for shoppers. They have learned from Blockbuster failure and they are getting clients from Netflix because they are more accessible and affordable. Amazon is providing an excellent customer service with their products making their service easier for customers by offering many services on one
website.
“Having conquered the desktops, music libraries and phones of millions, Apple reportedly wants to adorn one more spot in the life of the gadget-obsessed -- their wrists. The company is developing a smart watch that would run on the same iOS operating system that powers iPhones, iPads and some iPods, according to a report in The New York Times. Last year, Corning, which makes the Gorilla Glass used for iPads and iPhones, unveiled a more sensitive version of their product that could make it easier to produce a watch with curves. Over the years, Apple has reportedly poked around into products ranging from cars to cameras without any commercially available product ever coming from it. Pebble, a watch that uses Bluetooth technology to link up with the user 's Smartphone, racked up a record $10.2 million last year” (Doug Gross, CNN.com, 2013). E-businesses allow companies and individuals with diverse business opportunities. Marketing strategies have to be aggressive and well developed to keep a company like Apple ahead of their competitors. Excellent products are indeed crucial but the success or failure of a product in the market relays in the marketing strategy.
“Obama 's 50,000-square-foot campaign headquarters on the sixth floor of a Chicago office tower also served during the campaign as a business incubator, which now is generating new ventures that seek to parlay its innovations into private-sector enterprises. Some are classically political. Last month, senior field staffers Mitch Stewart and Jeremy Bird launched 270 Strategies, a political consulting shop offering clients the kind of data-driven organizing model that helped Obama win. Some of the Obama team 's top technologists and data crunchers, including former chief analytics officer Daniel Wagner and product developer Mari Huertas, are contemplating their own tech start-ups. Their business projects are still in the planning stages, but the new entrepreneurs already have a receptive audience in Silicon Valley. "The credibility earned has been part of the core Obama campaign team couldn 't be higher," said Chris Sacca, a venture investor and Obama fundraiser who has backed companies such as TwitterInc., Uber Technologies Inc. and Bitly Inc. "Point to another company that goes from zero to $525 million raised digitally in less than two” (Matea Gold, la times, 2013). In conclusion, well-structured marketing campaigns can sell products, services, ideas, and even political candidates. Marketing is a key factor in organizational success.
References
AMA 's definition of marketing stirs debate. (2008). B to B, 93(2), 41-41. Retrieved from http://search.proquest.com/docview/209387071?accountid=35812 http://articles.latimes.com/2012/oct/31/news/la-pn-2012-campaign-costs-6-billion-20121031 http://www.cnn.com/2013/02/11/tech/mobile/apple-smart-watch/index.html?hpt=hp_t3
Kotler, P., & Keller, K. L. (2012). Marketing management (14th ed.). Upper Saddle River, NJ: Prentice Hall.
. News Briefs Library Journal,136(5),93.
Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J. (2011). Basic marketing: A marketing strategy planning approach (18th ed.). New York, NY: McGraw-Hill Irwin.
MKT421 Version 12
Marketing
University of Phoenix
March 21, 2013
Defining Marketing
In this paper, the author’s personal definition of marketing as well three definitions from different sources are provided. The author also explains the importance of marketing in organizational success. Lastly the author provides three examples from the business world to support her explanation.
“Marketing is 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, page 6, 2011). Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “meeting needs profitably” (Kotler , & Keller, page 5, 2012). In 2008 AMA 's definition of marketing was: “Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at …show more content…
large.” The author 's definition of marketing after reading the learning material is that marketing is an ongoing communication exchange not only with costumers or buyers of products and services, but also look for receptors that need to buy specific ideas. Marketing includes diverse activities for businesses that help them to identify customers for their products and services. Marketing targets potential clienteles with advertising by creating in a way a new need for their products or services and generating all kind of innovations that potential consumers cannot resist the desire to obtain them.
In today’s market, companies that want to be successful are facing many complex challenges. These obstacles often affect their rate of permanence and their profits. Companies internationally recognized and that had set high standards struggle daily to maintain their status quo in the marketplace, and their survival depends on their Marketing strategies. Marketing is a vital component to the prosperity of all businesses regardless their size, and if it is for profit or nonprofit. Expensive, and extensive marketing tactics are used to get new clients, brand products, and even in obtaining sponsorship in fundraising events, or simply by trying to influence behaviors as was observed in the last American presidential campaign. According with Matea Gold, in the past election an “acceleration spending by outside groups in the final weeks of the 2012 campaign will drive total spending on federal elections this cycle to a record $6 billion, according to a new analysis by the nonpartisan research group Center For Responsive Politics. That tops the record set in 2008 by $700 million, making this campaign the most expensive in U.S history” (la times, 2012). Marketing tactics are made to encourage customers to buy, and therefore multiply their sales and profits. Regardless if the organization goal is for-profit or nonprofit, the main objective is to provide quality products and services for their customers. The primary goal of a business is to be sustainable. Therefore, the organizational success of a business depends on their customers’ willingness to purchase or use the services and products that they can provide. This is why some companies are creating new strategies to get clients from their competitors.
Recently, Amazon have increased it success in the - world with the innovation of products and services.
“Amazon, which already offers digital movies/TV shows for rent and purchase on an individual-transaction basis, has launched a new streaming service making 5000 titles available at no additional cost to members of Amazon Prime, its membership program through which customers pay $79 annually for unlimited free shipping” (Kuzyk 2011. Amazon management have been successful anticipating the cyber-consumers trend by positioning themselves in a strong position for shoppers. They have learned from Blockbuster failure and they are getting clients from Netflix because they are more accessible and affordable. Amazon is providing an excellent customer service with their products making their service easier for customers by offering many services on one
website.
“Having conquered the desktops, music libraries and phones of millions, Apple reportedly wants to adorn one more spot in the life of the gadget-obsessed -- their wrists. The company is developing a smart watch that would run on the same iOS operating system that powers iPhones, iPads and some iPods, according to a report in The New York Times. Last year, Corning, which makes the Gorilla Glass used for iPads and iPhones, unveiled a more sensitive version of their product that could make it easier to produce a watch with curves. Over the years, Apple has reportedly poked around into products ranging from cars to cameras without any commercially available product ever coming from it. Pebble, a watch that uses Bluetooth technology to link up with the user 's Smartphone, racked up a record $10.2 million last year” (Doug Gross, CNN.com, 2013). E-businesses allow companies and individuals with diverse business opportunities. Marketing strategies have to be aggressive and well developed to keep a company like Apple ahead of their competitors. Excellent products are indeed crucial but the success or failure of a product in the market relays in the marketing strategy.
“Obama 's 50,000-square-foot campaign headquarters on the sixth floor of a Chicago office tower also served during the campaign as a business incubator, which now is generating new ventures that seek to parlay its innovations into private-sector enterprises. Some are classically political. Last month, senior field staffers Mitch Stewart and Jeremy Bird launched 270 Strategies, a political consulting shop offering clients the kind of data-driven organizing model that helped Obama win. Some of the Obama team 's top technologists and data crunchers, including former chief analytics officer Daniel Wagner and product developer Mari Huertas, are contemplating their own tech start-ups. Their business projects are still in the planning stages, but the new entrepreneurs already have a receptive audience in Silicon Valley. "The credibility earned has been part of the core Obama campaign team couldn 't be higher," said Chris Sacca, a venture investor and Obama fundraiser who has backed companies such as TwitterInc., Uber Technologies Inc. and Bitly Inc. "Point to another company that goes from zero to $525 million raised digitally in less than two” (Matea Gold, la times, 2013). In conclusion, well-structured marketing campaigns can sell products, services, ideas, and even political candidates. Marketing is a key factor in organizational success.
References
AMA 's definition of marketing stirs debate. (2008). B to B, 93(2), 41-41. Retrieved from http://search.proquest.com/docview/209387071?accountid=35812 http://articles.latimes.com/2012/oct/31/news/la-pn-2012-campaign-costs-6-billion-20121031 http://www.cnn.com/2013/02/11/tech/mobile/apple-smart-watch/index.html?hpt=hp_t3
Kotler, P., & Keller, K. L. (2012). Marketing management (14th ed.). Upper Saddle River, NJ: Prentice Hall.
. News Briefs Library Journal,136(5),93.
Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J. (2011). Basic marketing: A marketing strategy planning approach (18th ed.). New York, NY: McGraw-Hill Irwin.