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Marketing Definition

In: Business and Management

Submitted By monkey1999
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Pages 4
Running Head: MARKETING DEFINITION

Marketing Definition Paper
University of Phoenix
MKT 421
October 31, 2006

Marketing Definition Paper When most people think of marketing they think of advertisements and commercials. This is partially true though there are differences amongst advertising products and marketing. According to the American Marketing Association (2006), “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” This view is similar to other definitions such as MSN Encarta Dictionary. The dictionary depicts marketing as “selling of products or services: the business activity of presenting products or services in such a way as to make them desirable” (MSN, 2006). Though most people would settle for these definitions a personal definition is “Marketing are the activities such as marketing research and the 4 P’s (price, product, promotion, place) that are linked to a specific product and the target markets wants and needs. Marketing is the act of satisfying customers beyond the competitor’s abilities.”
Marketing and Organizational Success Many areas intertwine to create a successful organization. Marketing is one area that intertwines with almost every aspect of a company such as sales, accounting and finance, customer service, and internal and external publics. Marketing is a valuable asset to a company. An organization's success depends on the effectiveness and efficiency of its marketing program and marketing management. Marketing is important in a company’s success because it involves researching customer’s needs, offering products that satisfy customer’s needs, and distributing the products to customer using marketing mix activities. Additionally, marketing

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