Marketing

Marketing

Marketing is highly used in businesses and in peoples everyday lives because it has different strategies and meanings to make it important for success and satisfaction for consumers. However, Marketing is important in business today such as McDonald’s, Wal-Mart, Kroger, AT&T, etc. The definition for Marketing in my own words is that it may think of as advertising, but it is the communication or word of mouth to sell a product or service to consumers. The meaning for marketing “the act or process of buying and selling in a market to meet the customer or consumer needs” (Farlex Inc., Jan2013). Marketing has multiple meanings including “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit” (Cohen, 2011).

The importance of Marketing is critical and cannot be overlooked in businesses globally in today’s society. Moreover, it does not matter if it is large or small business because it must be handled carefully for financial success. “The marketing mix is composed of four main components, known as the 4 Ps: product, price, place and promotion” (Ferraioli, 2013). The marketing strategy concentrates on providing the large profits of product or service to a customer whereas compelling into account that same customer is seen by the competition. The passion of the business accomplishment lies in its marketing. People have got to create awareness with dignity and friendship about products and services in marketing. The first step in marketing is to let the customers know what the product or services is about and persuade them so they will purchase it and want to come back for more business. The second step is the “word of mouth” to get the customers attention more quickly and persuade them about the product or service. The word of mouth will lead to bigger sales and better reputation in the business. Creating new products with efficiency and better quality will get customers and consumers...