Defining Marketing

Defining Marketing

Ruth Hernandez

MKT 421 / Marketing

Prof. Orlando Santana - Rivera

August 21, 2011

Defining Marketing

Most students at University of Phoenix chose this university versus another university partly because of the marketing efforts of University of Phoenix. To understand this statement, a person had to understand the definition of marketing. In this paper the student will define marketing, explain the importance of marketing in organizational success and will provide examples from the business world to support the explanation.

Definition

If a person is aware or not, marketing is part of every person’s live every day. Marketing efforts supports every product and service a person chooses to purchase. Marketing research is the first step, followed by choosing a point of sale, promotion plan, and determining the price. (Kotler & Keller, 2009, p. 5) say that 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.” Over time, other authors come up with different definitions. “Marketing is 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” (Perreault, Cannon, & McCarthy, 2009, p. 6).

Regardless the definition, every business and person either performs marketing activities or is influenced by marketing activities.

Importance of Marketing

No matter the size of an organization, an organization would not be profitable without marketing efforts. If a person designs and produces a new and unique child’s toy, the person would not sell very many units of this particular toy, if he or she just puts it on a store shelf. He or she would be more successful if the research has...