Defining Marketing

Defining Marketing

MKT/421

December 19, 2011

Defining Marketing

The purpose of this paper is to gain a basic understanding of marketing concepts and their importance to the business world. During this student’s examination of the role of marketing, I will define what marketing is, how the definition may vary between organizations, and the importance of marketing to organizational success.

For the majority of the world, the common idea of marketing extends only to the advertising aspect of selling an item or service, as reflected in Merriam-Webster’s definition of the word. “Marketing, a: the act or process of selling or purchasing in a market, b: the process or technique of promoting, selling, and distributing a product or service” (“Marketing", 2011). This students understanding of marketing would include the process of advertising and the promotion of an organizations products and services to include Internet, print advertising, and television and radio commercials. I would also include promotional events and sponsorships of athletes and entertainment personalities into that role. However, the Perreault, Cannon, and McCarthy textbook “Basic Marketing” covered in this course defines marketing as not only the promotion and advertising of a product or service but also any activity that works to accomplish organizational goals by anticipating consumer needs and directing the flow of products or services to satisfy those needs. That definition would also fall in line with The Chartered Institute of Marketing’s interpretation by stating marketing is “The management process responsible for identifying, anticipating and satisfying customer requirements profitably” ("Definition Of Marketing", 2011). Including the task of anticipating consumer’s needs expands the role of marketing beyond the act of just promoting a product or service. The organization must address customer satisfaction issues to ensure the continued interest in that organization’s offerings....