Defining Marketing Paper
Marketing an important part of the business organization, it is more than promoting and selling a product. Marketing is satisfying the changing needs of the customer. The very successful businessman Bill Gates can best sum this up when he said, "Your most unhappy customers are your greatest source of learning ". The purpose of this paper is to define marketing from at least two different sources, based on these definitions explain the importance of marketing in organizational success. Also, provide at least three examples from the business world of the importance of marketing to the organizational success.
According too the American Marketing Association marketing is defined as: An organizational function and a set of ...view middle of the document...
These marketing activities were executed in order to create an exchange and sales that will result in the achievement of the proprietors' individual goals and the firm's goals, both in the short-term and the long-term. It is then obvious that marketing forms an integral component of organizational strategies.
The Webster's definition of marketing is " (1) The act or process of buying and selling in a market. (2) The commercial functions involved in transferring goods from producer to consumer."
The importance of a well thought out marketing strategy is so when the new grocery store is opened the customers will want to shop there because of the marketing that has been set into place. The first step to be taken is a good marketing campaign that introduces the company to its new locations customers, let the new customers know the companies goals and the products that will be provided. The second step is to make sure that the company is still advertising the other locations so there is no loss of business there. The third and most important step is to do the research and target the correct type of customer with the advertising and marketing.
Best Answer - Chosen by Voters
At its base, marketing is about the strategies and tactics you use to identify and cultivate the market for your products/services - so it would seem to be pretty important to overall organizational success.
The degree of importance is arguable based on the industry, but I can't think of any business that can survive without giving some thought to the way in which they grow demand for what they're selling. In many businesses, marketing needs to be a core concern, and often the overriding concern when it comes to running a successful business.