Submitted by: Submitted by skywatcher
Views: 955
Words: 551
Pages: 3
Category: Business and Industry
Date Submitted: 09/14/2009 09:17 PM
Defining Marketing
Marketing can be defined in many different ways. The American Marketing Association defines marketing as “the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals” (Hisrich, 2000). Contemporary Marketing goes even further to say that not only should marketing create exchanges that satisfy individual and organizational goals, but the marketing process should create and maintain those relationships (Boone & Kurtz, pg 7). If one had to write their own definition of marketing it could be as follows: “Marketing is the process by which individuals and organizations strategically create and price a good, idea or service and then promote and distribute that good idea or service in a marketplace in such a way that satisfies needs and creates loyalty to the thing being marketed.”
Marketing is important to those trying to bring an idea, good, or service to the marketplace because it incorporates all aspects of the life of a product. This is otherwise known as the marketing mix. The marketing mix includes: product, price, place, and promotion. Without one of these four elements the whole marketing concept disintegrates. Thus, marketing is paramount when trying to bring an item to market.There are thousands of examples of marketing in the business world that could be used to describe the success of the marketing process. 3 of those real world examples include the marketing of the goods - Apple, services - M.D. Anderson Cancer Center, and ideas – patents and copyrights.
Apple
Apple, creator of the iPod, has committed to an extensive marketing campaign in the past few years. Their products now include, among others, the iPod, iPhone, and iTunes. For years the Apple brand was second to the Microsoft brand in terms of operating systems. However, in the past decade, Apple has launched an extensive marketing campaign that...