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Marketing 421

In: Business and Management

Submitted By Kathryn0914
Words 830
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Defining Marketing Paper This paper will cite definitions of marketing from two different sources will explain the importance of marketing in organizational success and will provide examples from the business world to support the explanations. Investopedia.com defines marketing as follows:
“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”. BusinessDictionary.com defines marketing as follows:
“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; 1) product 2) price 3) place and 4) promotional strategy.” Marketing is frequently seen as advertising and selling; however, it is much more and is extremely important for organizational success. An organization’s marketing department is partly responsible for promoting the product or service offered. An organization may be unable to have long term success without a fully functioning marketing department. Company’s need to reach a much wider global market nowadays, which means marketing and advertising is even more important. According to Perrault, Cannon, and McCarthy (2011) “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client”. This definition includes all marketing and advertising activities a business undertakes to identify clients/customers, targeting potential clients/customers with…...

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