...LIFTOFFINITIATIVE.NET | The Importance of Marketing for the Success of a Business LIFTOFFINITIATIVE.NET HOME Enter keywords.. ABOUT US CONTACT US RESOURCES PAST ARTICLES Search The Importance of Marketing for the Success of a Business Recent Post Opportunities for Youth Entrepreneurs in 2014 February 27, 2014 What Are the Qualities of Good Leadership February 17, 2014 February 17, 2014 LIFTOFFINITIATIVE@tags Uncategorized No Comments “Business has only two functions – marketing and innovation”. – Milan Kundera Marketing is one of the more important components of a business effecting sales and productivity. Even though marketing is important all businesses need customers. Attracting customers is not as easy as we think, especially when there is tough competition in the The Importance of Marketing for the Success of a Business market. If people are not coming to check your products, you may need to make efforts to change this by increasing your marketing efforts. February 17, 2014 All business owners understand the importance of marketing but they can’t distinguish Recent Comments between marketing and advertising. Marketing has vast boundaries and advertising is just a part of it. All forms of marketing promote product awareness to the market at large. Marketing strategies help you to stay one step ahead of your competitors. Contact Name* E-Mail* Here are some reasons that describe why marketing is so important...
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...Assignment 2 Marketing Essay Assignment 2 MKT 202 Marketing Communication The heart of any business success lies in its marketing. Most aspects of any business depend on successful marketing. The overall marketing umbrella covers advertising, public relations, promotions and sales. Marketing is a process by which a product or service is introduced and promoted to potential customers. Without marketing, the business may offer the best products or services in your industry, but none of the business’s potential customers would know about it. Without marketing, sales may crash and companies may have to close. 1 Marketing communications is a management process through which an organisation engages with its various audiences. 2A new era is unfolding in the field of advertise, promotions, and marketing communication. All organisations – large and small, commercial, government, charities, educational and other not-for-profit organisations all need to communicate with a range of stakeholders. This may be in order to get materials and services to undertake their business activities, or to collaborate and coordinate with others to secure suitable distribution of their goods and services. In addition, there are consumers – you and me – people who are free to choose among the many hundreds and thousands of product offerings. At this Marketing communications provides a core activity so that all interested parties can understand the intentions of others and appreciate the value...
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...MKT/421 Defining Marketing Paper 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 processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing is more than selling and promotion, the primary concern, or objective of marketing is to identify and satisfy, or exceed the changing needs of customers. In view of this broad concern of marketing, it can be seen that the concept of marketing summarizes many activities in a business. Marketing, in fact, refers to any activity undertaken by a firm that has been designed to plan, price, promote and distribute ideas, goods and services to target markets. These marketing activities were executed in order to create an exchange and sales...
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...Pearson BTEC Level 5 HND Diploma Business Unit 41: Contemporary Issues in Marketing Management Student Name Assessor name Dr. Nittin Essoo Date issued Completion date Deadline 16.03.2015 11.07.2015 Assignment title(s) Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: Learning Outcome Learning outcome Assessment Criteria In this assessment you will have the opportunity to present evidence that shows you are able to: 1.1 LO1 Understand the importance of relationship marketing in a contemporary business context explain the concept of knowledge management and its role in relationship marketing 1.2 explain the ways that ICT can support the customer relationship management process in a particular organisation describe the benefits of customer relationship management in a selected organisation make justified recommendations for the improvement in customer relationship management for a selected organisation 1.3 1.4 2.1 LO2 2.2 Understand the 2.3 role of marketing in non-traditional contexts 2.4 3.1 3.2 LO3 LO4 Task no. Understand the 3.3 importance of applying the extended 3.4 marketing mix in the service sector Understand the 4.1 reasons for the increasing 4.2 emphasis on ethics and social 4.3 responsibility in marketing 4.4 T1 carry out a stakeholder...
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...Defining Marketing MKT/421 June 19, 2013 Thomas Westover Defining Marketing No matter how hard a person tries they cannot avoid marketing, to me marketing in an activity that promotes profitability. Products cannot sell themselves, it’s not only about presenting a product or service to consumers but it also involves designing products that appeal to consumer. I have two entrepreneurs in my family based on my experience with them the hardest part of owning a company is maintaining a client base, in order for them to do that they have to continuously change their marketing plan and revamp product lines. To me marketing is all about profitability and the steps that required to maintain it, in reality marketing is comprised of “The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion.” (Investopedia, 2013) which is how I would choose to explain it in not so many words. The definition of marketing varies from one online source to another for example “Marketing is an activity. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products...
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...Defining Marketing The following document will consist of defining marketing in the business world, from different perspectives. Information in regards to the importance of marketing in an organizational structure will be provided. Lastly, in order to support the information in this document, there will be three examples provided to help explain each perspective on marketing. What is marketing? From a personal perspective, marketing is the way that businesses promote and advertise their product and sales. It is done through different channels such as; radio, television, social media, and word of mouth. From the perspective of Michael Brenner, a writer for Forbes magazine; “Marketing is what you say and how you say it when you want to explain how awesome your product is and why people should buy it.” He goes on to say, “Marketing is an ad. Marketing is a brochure. Marketing is a press release. And more recently, Marketing is a Facebook page or a Twitter account.” From the point of view Adil Khonat, author of “What is marketing? A starter activity and case study” “The marketing mix has four simple parts: Product, Price, Place and Promotion. All four must be present and need to work together harmoniously in order to have a successful product or service.” He further states “However, where one aspect of the marketing mix is overlooked or the marketing mix doesn't work harmoniously, success will be more difficult to achieve.” The importance of marketing Addressing the importance...
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... Marketing and Business Plans Business 300 July 27, 2012 Page 2 Marketing and Business Plans Planning helps an organization chart a course for the achievement of its goals. The process begins with reviewing the current operations of the organization and identifying what needs to be improved operationally in the upcoming year. From there, planning involves envisioning the results the organization wants to achieve, and determining the steps necessary to arrive at the intended destination--success, whether that is measured in financial terms, or goals that include being the highest-rated organization in customer satisfaction. “Planning helps organizations get a realistic view of their current strengths and weaknesses relative to major competitors. The management team sees areas where competitors may be vulnerable and then crafts marketing strategies to take advantage of these weaknesses. Observing competitors’ actions can also help organizations identify opportunities they may have overlooked, such as emerging international markets or opportunities to market products to completely different customer groups.” “Although marketing plays an important role, it will not guarantee...
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...Programme: | BTEC L3 Extended Diploma in Business | Unit (No. and Name): | Unit 3 Intro to Marketing Part 2 | Start Date: | 18th December 2014 | Deadline Date: | 16th January 2015 | Marking Tutor: | Danielle Vipond | Internal Verifier (Brief): | Tam Baldwin | Brief Verified (Date): | | Internal Verifier (Assessment) | Tam Baldwin | Targeted Criteria: | P1 | P2 | P3 | P4 | P5 | P6 | P7 | P8 | Achieved: | | | | | | | | | | M1 | M2 | M3 | M4 | M5 | M6 | M7 | M8 | Achieved: | | | | | | | | | | D1 | D2 | D3 | D4 | D5 | D6 | D7 | D8 | Achieved: | | | | | | | | | Plagiarism: Work handed in against this brief must be the learner’s own work. Any content not generated by the learner must be appropriately referenced; otherwise it will be taken to be that of the learner submitting it. Any infringement of the College’s Plagiarism guidelines will result in the Assignment not being marked and Disciplinary proceedings initiated. Scenario: | You work for a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products and services. Your marketing agency has a varied portfolio of clients and you have been given a range of business tasks to complete to help maintain their business and that of their clients. | Assessment Tasks: | Number | Task | Criteria Targeted | 1. | * Following your attendance at the workshop for P3 you will be given...
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...Omar Rochell Marketing MKT/421 April 7, 2011 Nikki Jackson Introduction Marketing is exposed to someone every day, even when they do not seem realize it. Driving down the roads you see billboards everywhere and that is part of marketing. Logos people were on their shirts and signs in the middle or on the sign of football fields are all part of marketing. Even when a child is marketing themselves to their parents to borrow the car or go to a party they are marketing themselves to their parents in exchange for the car or the party. A set of activities that will benefit both parties’ objectives is my own personal definition of marketing. This paper will be defining marketing in different perspectives. Discussing the importance of marketing in a organizational success will also be discussed with examples included from different organizations. As an organization it is important to know what marketing is and how to establish success. What is Marketing “Marketing is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that will have value for customers, clients, partners, and society at large.”(American Marketing Association, 2011) Marketing is a process that helps links the consumer, customer, and public to information that will help identify and market opportunities. Marketing research will generate, and evaluate different types of market actions, monitor marketing performance, and help improve...
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...Defining Marketing What comes to a person’s mind when the word Marketing comes up? Marketing is a word that is used every day in a organization. The word marketing has so many definitions that one can use. According, ( Kotler, P. 2009 ) the best definition that best describes the word marketing is identifying organization objectives satisfying services and meeting the customer’s needs. A person might say that the word marketing only means to sell a product.Marketing does not just mean to sell products it means to care about your customers and sell them the best products. When managers are trying to market a certain product to their customer, they first want to make sure they know everything about that product. Managers want to make sure that they are selling the best product to their customers. Marketing is very important in organizations and without marketing; the company cannot make money, promote new products or be successful in their business. Marketing is always used every day in an organization. Marketing is the key in making organization be successful. When managers are trying to make money and make their company stand out this is where marketing comes in. The purpose of this paper is to explain the importance of marketing in organizational success. One will provide at least three examples from the business world to support their explanation. The importance of Marketing in organizational success The importance of marketing in organizational success is...
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...------------------------------------------------- BTEC National Diploma in Business 2014/2015 Student Name: | Unit: 3 – Introduction To Marketing | Year Group: 12 | Tutor: Miss Chotai | Date Issued: | Submission Deadline: 27th March 2015 | Deadline Met: Yes/No | Task | Criteria to be met | Issue date(w/c) | Submission date(w/c) | Task 1 | P1, P2, M1 and D1 | 12th January 2015 | 2nd February 2015 | Task 2 | P3, P4, M2 and D2 | 16th February 2015 | 2nd March 2015 | Task 3 | P5 | 2nd March 2015 | 9th March 2015 | Task 4 | P6 and M3 | 9th March 2015 | 23rd March 2015 | Grading Criteria Met & date achieved: | | | | P1 | P2 | P3 | P4 | P5 | P6 | M1 | M2 | M3 | D1 | D2 | | | | | | | | | | | | Final Feedback to Student | Final Grade Awarded: | Fail | Pass | Merit | Distinction | I CONFIRM THAT THE ATTACHED ASSIGNMENT IS MY OWN WORK Student Signature: Date: Tutor Signature: Date: Internal Verifier: Date: INTERIM FEEDBACK RECORD Date | Comment | Target | | | | UNIT 3: Introduction to marketing ASSESSMENT CRITERIA To achieve a Pass grade the evidence must...
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...The importance of Marketing in Business February 19, 2013 In the following paragraphs the definitions of marketing will be developed in accordance to different sources. The importance of a strong marketing department to drive successful business will be discussed relaying in real life examples from MGM International strategies. “The purest treasure mortal times can afford is a spotless reputation- William Shakespeare.” (Brenner, 2013) Marketing in my own words are the strategies used by business to attract more clients and to differentiate from competitors. Marketing is a matter of earning people’s trust. According to the Business Dictionary, “Marketing is the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the four P’s of marketing: identification, selection, and development of a product, determination of its price, selection of a distribution channel to reach the customer's place, and development and implementation of a promotional strategy.” (Marketing Concept, 2013). Marketing also can be defined as “the activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments...
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...Defining Marketing Paper Paul A. Knight University of Phoenix Instructor Derrek Choy MKT 421 Introduction Marketing represents the business activity of presenting products or service in a way that is desirable to the consumer or customer in selling of products or service. The paper will follow with an explanation about the importance of marketing in organizational success. Marketing Definition & importance of marketing Marketing is business activity of presenting products or service in a way that is desirable to the consumer or customer in selling of products or services. The importance of marketing concepts are finance, operations, accounting, and other business functions will not really matter if there is no sufficient demand of that product or service. Marketing is making the right decision in designing a new product, what price to offer the consumer and where to sell products, how much money to spend in advertising, sales, or the internet. Marketing is about identifying and meeting human and social needs. One of the shortest good definitions of marketing is “meeting needs profitably.” (Kotler, Keller, 2009) Marketing promotes the ideas of a business. Marketing is a process that consists of analyzing marketing opportunities, selecting target markets, designing marketing strategies, developing marketing programs, and managing the marketing effort. Marketing concepts hold the key to achieving the organizational goals. Marketing concept deals...
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...Defining Marketing MKT/421 May 16, 2012 Defining Marketing * In this paper I intend to go over the term “Marketing”, what its meaning is by definition as well as how I portray it in my own views currently. I intend to inform you of how marketing is of importance to an organization and also how it can provide success to them as well. Also just to show some of my personal experience with the marketing portion of a business in which I was involved in and with for some local store marketing. To begin though I will first give you my interpretation of what marketing means to me. To me marketing is a form of putting yourself out there to the public, a presentation in which you are presenting your service. The service can be many different things, from foods, clothing, cleaning anything in general to which a consumer would have to go out and purchase to gain access of. This is my meaning of the word; however according to (American Marketing Association, 2012) “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” (2012) According to (Dictionary.com, 2009) marketing is defined by “the total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.” (2009) After taking in the three different variations of the meaning of the...
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...MKT Week 1 Individual Assignment The Meaning of Marketing The Merriam Webster Dictionary defines marketing as the process or technique of promoting, selling, and distributing a product or service (Merriam Webster, 2013). Merriam Webster further defines marketing as an aggregate of functions involved in moving goods from producer to consumer (Merriam Webster, 2013). Business Dictionary defines marketing as the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing: Product, Price, Placement, and Promotional Strategy (Business Dictionary, 2013). I believe that marketing is as it has been described by both Merriam Webster and Business Dictionary. The purpose of marketing is to get a product or service from the producer of the product or service to the consumer who will use the product or service. I believe that the four P’s are fundamental in getting the product or service from the producer to the consumer. Marketing is extremely important to the success of any organization. Why Marketing is Important to an Organizations Success There are many reasons that marketing is important to the success of any organization. First marketing gets the word out about an organizations products or services (Lorette, 2013). Getting the word out informs consumers about your product. It is important that consumers know about your product or service because without consumers knowledge...
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