Marketing

Running head: DEFINING MARKETING

Defining Marketing Paper

University of Phoenix

Marketing MKT/421

Alfred Cuccinello

April 21, 2008

Majority people believe that marketing is advertising and sales. Advertising sales and are steps that are integral to marketing. “Marketing is a major part of the economic growth and development of a corporation. One key reason is that marketing encourages research and innovation, the development and spread of new ideas, goods, and services” (Perreault et al, 2004). Marketing is the process of building products or services so that customers or potential customers can appeal to customers for the success of a business. Marketing entails many processes that include advertising, promoting, selling, researching, and distribution of a product or services of an organization. A marketing concept includes three basic ideas: customer satisfaction, a total company effort, and profit, not just sales, as an objective (Perreault et al, 2004).

According to 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” (American Marketing Association, n.d.). The terminology of function and the most important processes characterize the words and the foundation of marketing. The function of marketing is considered to be any activity that involves the transferring of services or goods from the producers to the consumers.

Why is Marketing so important? According to Kotler, “Financial success often depends on marketing ability. Finance, operations, accounting, and other business functions will not really matter if there is not sufficient demand for products and services for the company to make a profit” (Kotler et al, 2006). Marketing is part of an organization’ strategic goal; in addition, increasing profits and...