What Is Marketing? Essay

1652 words - 7 pages

If you were to ask someone in the general population, "what is marketing", most of the people in the group would probably say that marketing involves advertising a product and then selling it. Marketing can be defined as the whole firm, taken from the customer's point of view. According to the American Marketing Association, marketing is "planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." Marketing is much more than selling or advertising. It involves almost every aspect of what is going on in a company. Production and marketing are both fundamental economic activities.Production involves making goods, such as manufacturing a product, and / or performing services, such as providing repair services for those products. In marketing, you must plan and coordinate a great many activities in order to reach customers and compel them to purchase, use and repurchase your product.While it is true for a business to be successful the product must sell, they do not sell themselves, and marketing is just as necessary as production. Marketing insures that the right goods and services are produced. Production and marketing work together to satisfy human needs. This strategy, if successful, will benefit your company.Marketing is an all-encompassing activity. It is something that eventually touches everyone and it dramatically affects peoples' daily lives. No one in America is untouched by some form of marketing. Marketing is important to every consumer. Everyone, at one time will buy or use a product or service.What does effective marketing do? It links producers and consumers.Effective marketing makes available to consumers ways to meet their unique needs. Its purpose is to reach customers and compel themto purchase, use and reuse your products.Buying entails looking for and evaluating goods and services.Selling involves promoting the product to prospective buyers.Transporting is moving the goods from place to place.Storing involves holding an inventory of goods until needed by customers.Standardization and grading is sorting product by size and quality.Financing is providing necessary cash and credit to produce, transport, store, promote, sell, and buy products.Risk taking assumes responsibility for uncertain conditions.Market information involves the collection, analysis, and distribution of all the information the marketer needs to plan, implement, and control need-satisfying marketing activities.So what is the consumer's role in all of this?Consumers are actively involved in performing marketing. Their needs drive the marketing responses of many organizations. Consumers also provide marketing information to organizations wishing to serve them better.What is a marketing mix and what are the four P's that form a marketing mix? A marketing mix is the combination of marketing actions that make up a marketing program. The marketing...

Find Another Essay On What is marketing?

1. What is Network Marketing? Essay

1075 words - 5 pages 1. What is Network Marketing? Network marketing AKA Multi-level marketing (MLM) simply is a marketing strategy based on the concept of multi- level compensating. Simply put, in network marketing the company's sales force is not only compensated for the sales they personally make, but also for sales of other salespeople they recruit. Thus, as you recruit someone you get compensated for their sales and the sales of other people they recruit. As

What is International Marketing Research Essay

2368 words - 9 pages What is International Marketing Research?According to our last year's studies, the term "marketing research" refers to the gathering, recording, analysing and presenting information which focus on a previously defined problem and it is closely linked to the firm's decision-making processes concerning new product launch, diversification, advertising and so on. Kotler gives the following definition: "Marketing research is the function linking the

Compare the various definitions about what exactly marketing is

5348 words - 21 pages various definitions about what exactly marketing is (1 a) Identify the main characteristics of a marketing orientated organization for your organization (1 b) You should explain the various elements of the marketing concept (1 c) Identify and assess the benefits and costs of using a marketing approach to doing business in Vietnam (1 d) Detail: You should identify and explain the macro and micro environmental factors in

what is marketing defination of marketing difference between traditionl and modern markting - university of mumbai - essay

1378 words - 6 pages What is “Marketing”? Introduction A market is place where buyers and sellers meet. It is often defined as a place where things are bought and sold Marketers come to a market with an aim of setting up the stall, displaying goods and then try to attract buyers. Modern marketing is more complex than a street market but its is still about competing with others, attracting buyers, providing them with top quality goods or services and making a profit

What is a distribution channel? what are Conventional Distribution Channel and Vertical Marketing System? Compare them

1441 words - 6 pages through in moving from the producer to the consumer", (Meyer et al, 1988). With the help of distribution channels, companies are able to overcome the time, place and possession gaps that separate goods and services from the consumers. As said by Aaker (1984), access to an effective and efficient marketing channel is often a key success factor. However, in this competitive era, an understanding of the alternative distribution channels and the trends in

What is Marketing

2939 words - 12 pages 1.Introduction1.1PurposeThe purpose of this report is to discuss how the macro environmental variables can, and have, had an impact on the Higher Education. Moreover, identify this marketing mix (7 P's) from two organisations, which are Monash University and Deakin University. In this part, this report will compare and contrast the two marketing mixes.1.2 General Information about Macro-environmentMarketing environment consists of a

Marketing: What is Diversification?

677 words - 3 pages to add new products to its existing portfolio. A way that Johnson Matthey can diversify is by penetrating a new product category. Since they already produce active ingredients for a variety of pharmaceuticals, they can start their own pharmaceutical company. They have the raw material needed to make the medicine; this would also eliminate the middle man. And since they supply medical devices like pacemakers, they already have some kind of

Two technology companies coming together transforming to what the economy is evolving to - CSUN, Marketing Research - Assignment/Research on Tech companies

688 words - 3 pages target market. Because of the transformation to digitization advertisers target consumers all the time online now. The only problem with targeting consumers online is that companies don't always conduct survey samples of the target populations to be able to relate the research to a real-time mindset. There are two new tech companies that were developed to assist in establishing real data for their results and responses. These two companies are


2269 words - 9 pages utilized? Are there other, perhaps more fundamental differences between the activities of consumer and industrial marketers not cited in this brief overview? Is there one way to describe and characterize marketing? Are any differences evident in industrial marketing merely subtle nuances or do they require their own full and proper explanation? Indeed, just what are the principal similarities and differences between "traditional" consumer marketing and


891 words - 4 pages programs and promoting your company and its wares to the buying public. In other words, it is important for the business to understand what they are selling, where they are selling, to whom they are selling and how much they are selling it for.Just as in a business' strategic plan, marketing plans pull the many pieces together to demonstrate how a business will reach the target audience. When I was growing up, coffee came from a drip pot in my


1025 words - 4 pages take orders. There can be a product and consumer but, without someone to connect both, there will not be any sales thus defeating the purpose of developing a product in the first place.Personal DefinitionIf anyone had asked me the definition of marketing before reading about the subject my answer would have been it is advertising. After reading more about the subject, I see how much of what I do everyday involves some type of marketing. I have

Similar Essays

What Is Marketing? Essay

651 words - 3 pages . The Internet is a good example of this. How many Internet companies really seriously thought about the potential competitive reactions of the entrenched players? Did any of them consider long term competitive reactions? What about putting together plans that were robust to future competitive reactions?No, marketing is also about competitive analysis, not just the "interesting and fun" tactics that permeate the web.WHAT ABOUT COMPANY CAPABILITIES

What Is Marketing Essay

2477 words - 10 pages What is Marketing 1. Introduction 1.1     Purpose The purpose of this report is to get all of the management employees of Proton in all of the departments outside marketing to familiarize with what marketing is and also to show its importance in the company. 1.2     Background Proton is the biggest Malaysian automobile manufacturer. Proton automobiles are available in many countries such as China, Singapore, Australia, Algeria and

What Is Marketing Essay

1712 words - 7 pages promised to offer certain about marketing or it is a necessary part of obtaining a business qualification. In other words, customers are seeking specific benefits not limited to the physical materials. The supplier is selling a physical product, but the customers are usually buying a set of intangible benefits. In generally, product is ultimately what the customer will decide on and then determine whether it matches their needs. The sellers must offer a

What Is Marketing With Examples Essay

934 words - 4 pages customers. Armstrong and Kotler define marketing as “... a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others.” In the case of Perreault and McCarthy marketing is a set of activities preformed by an individual or organization with the purpose of satisfying the customers that are served, after all a satisfied customer is more likely to purchase