University of Phoenix
June 17, 2013
Marketing is essential for the success of a company. With the changing times and the advance in technology more products are being introduced to the consumer, however, before the consumer can purchase a new item he or she has to know it is worth buying. In this paper I will define marketing, providing my own definition as well as two other definitions from credible sources. I will also explain the importance of marketing in organizational success based on the definitions and provide three examples from the business world to support the explanation. Jay ...view middle of the document...
The Importance of Marketing
The most successful companies are those that use marketing effectively to research the needs of the consumer and promote their products or services. Two examples of companies that have successfully used marketing to promote their products are Pepsi Co. and Coca Cola. These two companies are rivals who try to outdo each other every year by having well-known actors, actresses, and sport heroes promote their products. These companies have a marketing department who do thorough research on the changing trends and demographics of the consumer such as healthier options and recycling. No one can deny that the success of these companies is due to their marketing strategies. Another example is Wal-Mart. Wal-Mart focuses on one stop shopping. They are known for providing low cost but high quality products for the consumer. Wal-Mart appeals to the consumer because of the convenience of location and the products available at the location based on the needs of the community. Wal-Mart’s marketing strategy focuses on providing the consumer with the lowest prices available, for example their price matches. Price match has proven to be a successful marketing strategy that benefits both the company and the consumer. The last example is Microsoft. Microsoft’s marketing strategy is to provide the best technological products available. Microsoft also offers the convenience to the consumer of being able to download software strait from the Web. Offering this service is convenient to both the...