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.…
Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, "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 I will explain the importance of marketing in organizational success. Also, I will offer three examples from the business world of the importance of marketing to the organizational success.…
West, D. C., Ford, J. B. and Ibrahim, E. 2010. Strategic marketing. Oxford [u.a.]: Oxford University Press.…
Growing Businesses and increasing competition globally intrigued me since I completed my Bachelors in Business administration from DAV College, Jalandhar in 2015. I learnt that it is the Marketing strategies that provides the edge to one brand over another. Marketing research guides company to its potential customers and their growing or changing demands.Basically, to grab the market for new initiatives or too expand for existing one's, Marketing, in 21st century, is the heart of any business.…
Marketing is an “essential department of an organization” (Jiang, 2009), therefore it is vital to place a certain type of individual in the management position to manage this functional area. Specific tasks that are completed in this department are research of current and future market prospects and developing of new ideas that turn into products and services (Jiang, 2009).…
Nowadays, most companies try to strengthen their marketing department and marketing strategies in contemplation of significant impact of marketing on products sales. Marketing strategy involves promotion, pricing, intended achievements, determining target market, product development and distribution (“businessdictionary”, n.d.). Companies struggle to enlarge the number of their customers, because it is considered that marketing strategy designates the market coverage of company in spite of same facilities in sector.…
| 1.2 – The role and the importance of marketing in strategic planning |3 |…
Introduction Marketing occupies an important position in the organization of business unit. Any business is likely to be successful when a strong marketing viewpoint or philosophy permeates the thinking and guides the decision and actions of everyone in the business. A business exists only to serve people, and marketing is the function that primarily determines -…
Marketing has become more and more important, especially as the purposes of marketing expanded into performing marketing researches. Through marketing researches, it is asserted that marketing starts with a real customer need. Classic marketing, has, nonetheless, focused on making the need that will draw customers, and this stresses the advertising power of marketing (Woodall 2007, p.1284). This is also called the sales concept of marketing (Woodall 2007, p.1285). An example is how advertising lures people into buying a brand, because of the psychological connections it makes with customers or because of the features of the product (Morgan 1996, p.20). This paper discusses the importance of marketing to business.…
My aim is to identify the basic marketing principles and explain the promotion process provided by Mandarin Oriental Hotel. The group has received awards for its service and management, as well as for the spas and restaurants located at many of their hotels and resorts. As this report demonstrates The Mandarin Oriental Hotel is very customer focused and puts a lot of focus onto Marketing. Another unique selling point (UPS) are the locations of which it has hotels located. These are often in exotic…
In this era marketing is of great importance. In the past people and mostly organizations used to believe that marketing like any other element is a part of business which helps to increase the sales but with changing time importance of marketing was realized. Today, marketing has a true and vast meaning. Now marketing is basically about satisfaction of the customers. With time marketers have learnt the true meaning marketing. A market oriented company makes profit through customer satisfaction. Sales increase when the customers are satisfied. In past only the marketers used to think about the customers but now everyone thinks about the customer whether HR department, production department or sales department etc. companies now believe that selling to well-defined and loyal customers is of great importance rather than selling the products to everyone. Now organizations are of the view that true valued customers are more important than the sales. Having a strong marketing means having true and strong sales. With changing time methods of marketing has also changed. Many ways of marketing have evolved like advertising, personal selling, direct marketing etc. and these ways creates a good image of the company. Awareness among the customers is now observed customers in many parts of the world are now being more brand conscious rather than price. This means that for a good brand customers are ready to pay more. This shows that marketing has actually brought a big change in the modern world. Companies being market oriented company also tries to be a future oriented company rather being a past oriented company. Innovative products produced by the company shows that company believe in change and modernization rather than sticking to one and old methods of producing products and selling them by same old methods. Advertising uniquely also shows that how well-managed and unique a…
Marketing became one of the most important sections linking between all sections within businesses and organizations. Marketing can be defined as “a process of communicating, creating and delivering value of a product or service to customers, for the purpose of selling the product or service and to manage and build the customer relationships in different ways that benefit the entire organization” (Kotler, Philip & Keller, 2012). Moreover, it constitutes a critical business function for attracting customers and building a strong relationship with them.…
This research entitled The Role of the Hotel Advertisements in Attracting Local and Foreign Tourists is about how Hotel Advertisements attract their tourists to visit or come to their hotel. Hotel Advertisements has a big role in attracting the tourists, because with Hotel Advertisements, tourist can easily find the type of hotel they want to check-in with. This research talks about the strategy and methods the Hotel Advertisements will use in order to attract the tourists.…
Marketing is extremely important for a business. For one person to buy some product should already know about it. No matter what famous your brand is, and even if you have produced a new product a lot better than the previous one IF you do not market it the person do not know about improved products' distinguished features n benefits. Marketing also plays important role to beat your rivals in the way by ATTRACTING them to you by…
Ohen lighten and educate manager, firms, customers etc. on the importance of marketing in the hotel industry.…