Defining Marketing Paper

1149 words - 5 pages

Defining Marketing PAGE \* MERGEFORMAT 2
Defining MarketingUniversity of PhoenixMKT/421: MarketingDefining MarketingWhen speaking of marketing, what is truly meant? Is marketing advertising that leads to increased sales, or is marketing an organizational activity? The meaning of marketing can be different things to different people, thus marketing can be defined in many ways depending on the source. Is marketing important to organizational success? The answer to that can vary as well, depending on their view of marketing. How an organization uses marketing can determine whether it will be a success or not.Marketing DefinitionsPersonal DefinitionMarketing is the process of attracting ...view middle of the document...

Marketing in general is important because it "provides needed direction for production and helps make sure that the right goods and services are produced and find their way to consumers" (Perreault & McCarthy, 2005, p. 5). In providing a multitude of goods and services from producers to consumers, marketing is also a social process because it organizes the activities of the producers and middlemen to the consumers (Perreault & McCarthy, 2005). Marketing is also important for an organization's success because it generates recognition. Recognition increases as more people become aware of a product or service through marketing. As recognition increases, clientele and sales rise, increasing demand and profitability, therefore, increasing the chances of success.Wal-Mart, Disney, and Coca Cola are examples of businesses who have achieved organizational success by using marketing. The businesses exemplify the American Marketing Association's (2009) definition of marketing; they create, communicate, deliver, and exchange products and services that have value for customers, clients, partners, and society. What started out as a discount store in Rogers, AR, a small office in Los Angeles, CA, and a drugstore patent medicine in Columbus, GA have turned into international corporations through marketing.Marketing is not only limited to goods and services but includes events, experiences, persons, places, properties, organizations, information, and ideas, such as the Olympics, Adventures by Disney, Oprah Winfrey, Las Vegas, real estate, Nike, learning institutions, and "Friends Don't Let Friends Drive Drunk" (Kotler & Keller, 2006).When organizations lose sight that marketing involves providing customers with need-satisfying goods and services and do not adapt to the changes, the potential for success diminishes. Levi Strauss experienced plummeting sales of "$7.1 billion in 1996 to about $4 billion in 2003" (Kotler & Keller, 2006, p. 341) due to competition and changing consumer needs. Once a leader in the jean industry; Levi's is faced with competition from all sides in the industry. In an attempt to re-establish itself as the industry leader, Levi's has incorporated the philosophy of "adopt,...

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