Marketing

Marketing

MKT/421

Marketing

What is the definition of marketing? Marketing is making a product or service appealing to the public so that he or she would want to buy or sell that product or service, in an effort to bring in revenue for a business or organization. Marketing consists of more than television commercials or billboards one see as he or she passes along the highways. Many people think marketing is only about advertising, marketing is more than that, marketing is about understanding a product, competitors, and customers. People come in contact with some form of marketing every day, rather it is the toothpaste one uses or the gas one puts in his or her car, marketing is part of everyday use. Marketing has a very important responsibility in the economical growth and success of a business or organization. The author of this paper will state two accurate definitions of marketing and give three examples of why marketing is important in today’s business world.

“Marketing is the process of planning and executing the conception, pricing, promotion, and distributions of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives.” (Boone & Kurtz, 1998). Marketing also has another definition; marketing is the act or process of selling or purchasing in a market. (Merriam-Webster) The definition from Boone & Kurtz has what is known throughout the business world as the “Marketing Mix.” The “Marketing Mix” or the four P’s of marketing consist of; product, pricing, place, and promotion. Combining these four characteristics helps marketing managers satisfy his or her customers in a particular target area. Marketing is about analyzing the consumer needs, predicting his or her wants, and the ability to determine how many consumers have interest in what he or she has to sell. Marketing needs to...