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Defining Marketing Essay

1294 words - 5 pages

Marketing is more than promoting and selling a product, the primary concern or objective of marketing is to identify and satisfy, or exceed the changing needs of customers (DHM Solutions, 2006). In the following paper, I will explain my personal definition along with definitions from two different sources. Based on the definitions provided, I will explain the importance of marketing in organization success. In addition, three examples of marketing success stories will be covered and reviewed in support of the ideas listed.My personal definition of marketing is that marketing requires research and stats to focus on a particular audience or customer to gain the attention needed to make sales for products and services. This can be accomplished through the use of advertising, mail-outs, and utilization of public relations (PR). However, this is only a portion of the marketing "pie". Ultimately, marketing is needed to attain and convince potential customers to do business with the respective company. This can be done through creativity, planning, strategies and development. Investopedia.com defines marketing as "the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion," (Investopedia.com, 2006).;Answers.com says that "marketing pertains to the interactive process that requires developing, pricing, placing, and promoting goods, ideas, or services in order to facilitate exchanges between customers and sellers to satisfy the needs and wants of consumers. Thus, at the very center of the marketing process is satisfying the needs and wants of customers," (Answers.com, 2006).I think it is difficult to define marketing in one sentence due to the many facets it takes to complete the total meaning. My personal definition and the definitions from investopedia.com and answers.com all differ. However, all of the above definitions give significant factors to the importance of marketing.Investopedia.com says that "many people believe that marketing is just about advertising or sales. However, marketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing. The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensure profitability (Investopedia.com, 2006).The importance of marketing lies in many aspects, however understanding your customers must come first. Marketing is one of, if not the best way to expand a business or organization....

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