Marketing

Francisco Garza

FA2012 Principles of Marketing

9-5-2012

“Definition of Marketing”

According to the American Marketing Association Board of Directors “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”. Marketing to me, is the most important branch of any business or corporation, I say this because without marketing businesses would not be able to reach and create value for the costumer properly, therefore not being able to sell their products which could cause major problems for the business. Good Marketing helps create value with a costumer which is very important because if a costumer feels that there is a connection between them and a product, you could have that costumer keep coming back for more, which is also very important because most of your sales and profit will come from 20% of the returning costumers. Take for example Starbucks, this is a very successful company thanks to marketing, Starbucks is successful not only because of their delicious coffee, but also because people can also stay and relax on comfortable couches, people keep coming back because Starbucks connects with their customers by inviting them to stay in their store to relax and enjoy. Marketing plays a big role in a company also because the amount of work marketers put into it. Marketing may seem easy from the view of the consumer, but some people do not realize that marketers have to conduct a very good amount of research before they can even think about a way to attract an audience. Marketers have to take everything in account, things like region, population, races, age, gender and others have a lot to do with the way marketers have to do their job. For example, a company like Apple, one of the most technological companies have the most loyal customers I have ever seen, there are people that would pay tremendous amount of money for...