Marketing Definition

Introduction

In this paper I will define marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I will show the importance of marketing. Marketing applies to many different areas of an organization and after close review I will make it clear on how it relates.

Personal Definition

Marketing is how a company or organization promotes the service or product the company uses to create revenue. After closely reviewing the needs of the public in an area or the market and the product or service is revised to accommodate these needs, a marketing plan would be created and executed.

Printed Definition

“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2007)

• “American Heritage Dictionary's Definition of Marketing

The commercial functions involved in transferring goods from producer to consumer.2

• Merriam Webster's Marketing Definition

1 b: the process or technique of promoting, selling, and distributing a product or service

2: an aggregate of functions involved in moving goods from producer to consumer 3

• Marketing Definition From MSN Encarta Dictionary

the business activity of presenting products or services to potential customers in such a way as to make them eager to buy. Marketing includes such matters as the pricing and packaging of the product and the creation of demand by advertising and sales campaigns.4

Note the phrasing: "The process", "functions involved", "process or technique", "an aggregate", "the business activity". These all get to the heart of the definition of marketing.

As a process, there are certain foundations of marketing that will never become obsolete. We still have products, services, and ideas to sell at some price. We deliver to our customers via some means of distribution. We promote and we advertise. Those are the basics. Those basics still exist and always will.” (Kyle, 2007)

Importance of Marketing

Marketing is the sometimes the soul reason a product is chosen. Whether it is something one needs or it is an everyday service provided, how this is marketed can be the reason one business is so successful and another is not.

Communicating to a customer what products or services are offered is a very vital step to getting the attention of future consumers, and also keeping the interest in current consumers. If a company takes the time to repackage, come up with a new jingle, or improve an already good product, the consumer will consider that when they make the purchase. As a consumer, I believe if a company takes the time to improve the product it shows interest in their own product and makes me feel better about the purchase.

Example 1: The new and improved shower cleaners. The company is currently marketing a product that a consumer can purchase and install in their own shower that will spray a mist to clean your shower. This is a fantastic marketing plan as with all the busy schedules of the family unit today, there is really no

...