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Marketing Essay

891 words - 4 pages

Define MarketingDefining marketing is not an easy task. My first thoughts of marketing were to define it as selling something to someone else or advertising a product to a consumer. It is true that advertising is a part of marketing and effective marketing leads to successful transfers of goods or services. This paper will present several different definitions of marketing. Based on these definitions the importance of marketing in organizational success will be explained and supported by examples.Defining marketing is basically moving product from the producer to the consumer. The American Marketing Association suggests that 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" (American Marketing Association). Another definition, summarized by Philip Kotler, The Department of State and Regional Development defines marketing as "finding out what customers want, then setting out to meet their needs, provided it can be done at a profit. In today's business environment marketing includes "market research, deciding on products and prices, advertising, promoting, distributing and selling" (All Business2006). The Center for Media Literacy defines marketing as "The way in which a product or media text is sold to a target audience" (2003). Marketing is a critical element of the business organization. Marketing is more than simply promoting and selling a product. Successful marketing is satisfying the changing needs of the customer.The Importance of MarketingIn order to understand the needs of the customer, the business should implement a clear, concise marketing strategy. Marketing strategies "identify customer groups which a particular business can better serve than its target competitors, and tailors product offerings, prices, distribution, promotional efforts, and services toward those market segments. Ideally, the strategy should address unmet customer needs that offer adequate potential profitability" (SBA Marketing Basics, 2006). A good market strategy assures business focus on the target markets they can serve the best.The company may have a wonderful product they feel will rampantly sell, however if the product or service does not fit the needs of their potential and current customers at the offered price, then the company needs to revisit the marketing strategy and revise the marketing plan so that the product or service does spark the interest of the customer. While it may appear counterintuitive, it is the customer's present needs that dictate a business' marketing strategy and define how the business will transfer their goods to the customer. Without effective marketing, the product will not sell and the business would eventually fail.Effective MarketingAn organizations marketing effort is the sum of the sales, pricing, promotional and advertising efforts implemented to promote the flow of goods or...

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