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

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 company’s products, making sure that the products are available to be bought, ect.” is the definition of marketing. It can be as simple as “marketing is about identifying and meeting human and social needs” according to Kotler, P., & Keller, K. L. (2012). ...view middle of the document...

Through the process, the “ideal” consumer can be imagined and outlined and it is important to investigate and find if that consumer is located in that specific demographic region. It is also important to understand how the ideal consumer for the given product behaves in his or her spending. Is the target consumer a hard-hitting thrift shopper or does the consumers income become irrelevant to the importance of having the product or service that the organization is looking to provide? And the market research will also identify the competitors for one’s organization. This will make the competitors strengths and weaknesses known. Depending on the nature of the product or service will determine whether it is necessary to gather quantitative data or the more in depth qualitative data research.
In 1985, Coca-Cola announced that it would be changing its first change to its formula (in 99 years) to bring out the “New Coke” product (Conversation Staff, 2012). This new product change was done in order to boost sales that had been slipping for nearly 15 years. What they did not do was the research before the marketing. The uproar from hundreds of thousands of loyal Coca-Cola consumers that tasted the “New Coke” led to the return of Classic Coke just a few short months later. Coca-Cola’s phone lines were inundated with up to 1,500 calls a day in panic over losing the original product. Some even became depressed. When Coca-Cola announced the “old” Coca-Cola was returning, it seemed to give Coca-Cola the re-birth it needed. People identified that this soft-drink was far more than just a drink, there was actual emotional...

Other Papers Like Defining Marketing

Defining Marketing Essay

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

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

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


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


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 920 Words

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

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