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Defining Marketing Paper

746 words - 3 pages

This paper will present my personal definition as well as two other sources found on the Internet. I will explain the importance of marketing and its role in organizational success. I will then give real-world examples that will support my explanation regarding marketing.Marketing has been a term that can have several meanings for me. It can mean advertising, where campaigns are devised to sell a product or service to the mass consumer market. It can mean research into developing new products and finding where these products fit into the consumer markets. And lastly, it has meant the sales aspect, where the end results of the research and advertising finally determines if it has been a successful marketing cycle.Wikipedia, a free online encyclopedia defines Marketing as a "process of moving people closer to making a decision to purchase, use, follow, refer, upload, download, obey, reject, conform, become complacent to another person's society's or organization's value". It continues with the final statement that "if it doesn't facilitate a sale, then it's not marketing." (en.wilipedia.org/wiki/marketing) Another definition stated in an article by Jimmy Waller says that "marketing is a task of creating, promoting, and delivering goods and services to consumers. The real life characterization of marketing is to identify and meet the human and social needs of our society profitably." (Waller, 2006)From these definitions, we can understand that for businesses to survive and stay profitable, they must provide goods and services that provide value to a society. The complete life cycle of marketing must start with understanding the need and from where that need is coming from. From there, it must be determined what quantifiable goals are required to fulfill that need. After determining to whom and how much of a product is required, then it is time to promote the product. Finally, it is time to distribute the product. This is a simplified example of how marketing works but without these steps, organizational success will not be accomplished. We no longer live in product-focused market economy, where organizations pushed their product into the market; instead, the current marketing methodology is towards customer-focused marketing practices where a customer desire justifies the need and demand.One industry that is careful to understand the demands and needs of consumers is the...

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