This website uses cookies to ensure you have the best experience. Learn more

Defining Marketing Essay

920 words - 4 pages

Defining Marketing Paper
Toya Carter
MKT/421
May 25, 2011
Susan Craver

Abstract
Marketing is a very important tool for a growing business. Marketing is a good investment for businesses. Marketing is an area that has been proven to pay for itself within any business. Marketing is often misunderstood, because of lack of research, time, resources, and the understanding of its potential. Marketing is effective for any business if it shows what task the business does well or how well the business produces products differently from competitors. In this paper the subject to discuss is the meaning of marketing and the importance of marketing in organizational success.
Three Definitions ...view middle of the document...

Wal-Mart offers their consumers a lower price on products the company sells at a cheaper price than competitors by selling their products at a cheaper price and also price matching with other stores who may offer certain products lower than Wal-Mart the business can keep up with the demand of cheaper products for the customers.
The Third Definition of Marketing
The third definition describes marketing as management process through which goods and services move from concept to the customer. As a practice, it consists of coordination of four elements called four P's: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customer's place, and (4) development and implementation of a promotional strategy (BusinessDictionary, 2011). For example the four P’s can be seen in development, price, distribution, and implementation of promotional strategy of a local dairy chain in Orlando. TG Lee is a local dairy chain in the Orlando area. The company always mention in the advertisements of how their dairy products does not have to travel far to get to the consumer, so all of their products should are fresh and great tasting because the products are made at a distribution center in Orlando, offers at a reasonable price, are sold at the best quality grocery stores, and the products are advertised in sales papers, on billboards, and on city bus signs.
Importance of Marketing
Most businesses realize the importance of marketing to their company and how marketing has a big role in the success of their company. Businesses face many challenges in the corporate world and one of the main challenges is keeping up with competitors. All businesses need to have a good marketing strategy. Marketing strategies can usually include branding, obtaining new consumers, and influencing behaviour of other...

Other Papers Like Defining Marketing

Defining Marketing and Marketing Mix Essay

2498 words - 10 pages Running head: DEFINING MARKETING AND MARKETING MIX Defining Marketing and Marketing Mix Defining Marketing and Marketing Mix An organization ability to market itself to consumers satisfying a need or a desire for specific product or service drives success. One can argue that an organization of any size needs some form of marketing to withstand the elements of time and competition. The

Defining Marketing Essay

896 words - 4 pages If one was to go randomly poll an audience on what the definition of marketing is, some might say “the definition of marketing is taking a product or a service and promoting it to sell to the consumer by methods of advertising or word of mouth.” This would be an acceptable answer, but certainly it does not encumber all that marketing means. According to Merriam-Webster (2014), “the activities that are involved in making people aware of a

Defining Marketing

789 words - 4 pages Marketing is very beneficial to organizations because it gets the word out about products, services and events. Without marketing an organization would not do as well financially because they would be relying on their customer’s and employee’s opinion on the organization. There are many forms of effective marketing. There are also times where marketing can make a company look undesirable. It is important that the sales department and marketing

Principles of Marketing

1989 words - 8 pages . Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it 5. List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring return on marketing investment 2-2 Chapter Outline Companywide Strategic Planning: Defining Marketing’s Role Planning Marketing: Partnering to Build Customer Relationships Marketing Strategy and the Marketing

Marketing

1324 words - 6 pages Management L1-8 Lecture/Workshop Objectives • • • • • • Introduction to Marketing Principles Tasks of Marketing Major Concepts & Tools of Marketing Marketplace Orientations Marketing’s Responses to New Challenges Holistic Marketing Orientation Frankie Lim L1 Module Introduction & Concepts of Marketing Management L01-9 Defining Marketing Marketing is a societal process by which individuals and groups obtain what they need and

Define Marketing

752 words - 4 pages Defining Marketing Janae Dawson MKT 421 March 14, 2012 Robert A. Cordero, MBA Defining Marketing According to (Armstrong & Kotler, 2011, p. 4) “Marketing, more than any other business function deals with the customers.” Armstrong and Kotler (2011) go on to elaborate on how marketing is the process a business takes to manage profitable customer relationships. This is known to be true from the consumer point of view. When a

Define Marketing

648 words - 3 pages ultimate objective of marketing is to match a business products and services to the individual who wants and must have them, in so doing guarantee profitability. This paper will define marketing, and explain the importance of marketing with examples. Defining Marketing Marketing on a personal note is to communicate the involvement of what an Individual have gathered through a mix of basic working understanding of economics, finance

Marketing

699 words - 3 pages Defining Marketing for the 21st Century Chapter Questions      Why is marketing important? What is the scope of marketing? What are some fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management? Copyright © 2011 Pearson Education, Inc.  Publishing as Prentice Hall 1-2 What is Marketing? Marketing is an organizational function and a set of

Marketing Research

711 words - 3 pages characterized by the scientific method, creativity, multiple research methods, accurate model building, cost-benefit analysis, healthy skepticism, and an ethical focus. 2. The marketing research process consists of defining the problem, decision alternatives, and research objectives, developing the research plan, collecting the information, analyzing the information, presenting the findings to management, and making the decision. 3. In

Mkt421 Week 1 Individual Assignment

1154 words - 5 pages MKT421 WEEK 1 Individual - Defining Marketing Paper Write a 700- to 1,050-word paper in which you define marketing. • Include your personal definition of marketing and definitions from two different sources. • Explain the importance of marketing in organizational success, based on these definitions. • Provide at least three examples from the business world to support your explanation. Properly cite sources used in the paper. Format

Managing Market Information

1517 words - 7 pages Marketing Information Marketing Research Defining the Problem and Research Objectives Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 4- slide 14 Developing Marketing Information Marketing Research Developing the Research Plan • Outlines sources of existing data • Spells out the specific research approaches, contact methods, sampling plans, and instruments to gather data Copyright © 2010 Pearson Education, Inc

Related Essays

Defining Marketing Essay

646 words - 3 pages Running head: DEFINING MARKETING Defining Marketing ` Defining Marketing In the business world marketing is vital to the success of a business’s endeavor of a new product or line of products, and how well the products do rely primarily on the marketing techniques used by the marketing team. So what is the definition of marketing? Well my definition of marketing derives from my father’s advice

Defining Marketing Essay 633 Words

633 words - 3 pages Defining Marketing MKT421 – Introduction to Marketing December 19, 2011 Bryan Rice Defining Marketing Marketing is a tool used by organizations to provide interest by consumers in a product or service provided by that organization. There are several approaches utilized by organizations that prove effective while others confuse or challenge the consumers. The proper marketing mix consists of four distinct elements, which are: product

Defining Marketing Essay 813 Words

813 words - 4 pages Defining Marketing Every day, people are affected by marketing. Whether it is on your way to work and you find yourself in the drive thru at Starbucks to get your daily cup of coffee, or stopping at your local restaurant to get a good deal on breakfast. Businesses, big and small all have their own way of marketing to develop a relationship with consumers. Without proper marketing, an organization will be unnoticed. The success of an

Defining Marketing Essay 722 Words

722 words - 3 pages Defining Marketing LeeAnna Carter Marketing/421 September 17, 2012 Tina White Potter Defining Marketing Marketing is a term that I have heard in television shows, movies, and in common conversation but never really understood what it meant. I assumed it involved organizations advertising products or services to obtain a wider customer base. The more I read the more I learn that yes, that is part of what marketing means, but if covers so