Marketing Paper

Marketing 421

Unless you work in the marketing business, you may not think about how important it can be. Most people take advertisement for granted, but don’t even realize the effect of bad marketing on their view point. I would define marketing as the evaluation of the needs of the consumer and then the ability to adapt your product to their needs. The World changes and so do the needs and wants of the consumer, especially in the technology marketplace. This paper will define marketing and explain how important it is for organizational success. It will give different views and some examples to back up this statement.

According to the text book, “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, 2011, p. 8). I thought this definition was very similar to mine, which was interesting since I hadn’t read the chapter yet. I agree that the needs of the consumer greatly affect how a business markets their product. If a business doesn’t meet the needs of the consumer, then the consumer will go to another company that does. There are very few monopolies in the World and so a competitive company can easily provide the same product while better meeting the consumer’s needs. Marketing, or marketing research, is very important to keep a business competitive and successful. For a business to be successful, it needs to stay flexible and be able to adapt to changes in the marketplace. Businesses that produce the same product every year are going to be put out of business by a newer and better product.

Another definition of marketing is “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (MarketingPower, Inc., 2012). This...