Definition of Marketing

Definition of Marketing

MKT 421

03/16/2011

Just last week, on March, 11th 2011, Apple launched its latest product of technology, the iPad 2. The new device sold up to one million units within its weekend opening; which lead to many stores being out of stock and having to take rain checks. In April 2010, Apple released the iPad 1 and it sold a million units after 28 days its launch date. (Madway and Raj, 2010) How did Apple succeed in getting consumers into the stores to obtain the new product? The answer will be marketing.

Marketing Definition

What is marketing? The common generalization of marketing is the ability persuade consumers or clients into purchasing new products and services with using the techniques of advertising. For example, if a sales person tells you to that the new Tools of the Trade stainless still cookware is great because it’s cute, handy, and essential to new cookers, then that’s advertising. Advertising is a key component to marketing but it is not does not define marketing. According to the authors of Basic Marketing textbook, marketing is defined as “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of needing satisfying goods and services from producer to customer and client.” (Perreault & McCarthy, 2009 p. 6) In the example, the sales representative did not inform the customer of why the cookware was best for his or her daily needs as newbies in the kitchen.

I use to think that marketing was just about sales and public relations; however, I now know that marketing main purpose is to identify and satisfy the needs of clients. The American marketing Association defines marketing 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,” (Kotler & Keller, 2009, p. 5)

Importance...