Defining Marketing

Defining Marketing

Marketing is a tool that is used for advertising and selling of goods or any products that companies wish to show for consumers to purchase. Most companies used marketing as a tool to entice or lead consumers to purchase their products through television, radio, or newspapers and now the internet which has gone to a new level in world.

Perrault, Cannon, and McCarthy (2009) defined marketing as "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"(BasicMarketing,2009). "Philip Kotler defines marketing as 'satisfying needs and wants through an exchange process" (What is Marketing, 2012). Both author's definition of marketing includes all of the behavior a business accomplishes to recognize customers, products and services that will fill a void, targeting prospective customers with advertising, delivering the products or services, and following through with excellent customer service.

The Success of Marketing

In order for any company to be successful marketing has to play a major part in the success of the products it's trying to sell. For a business to be successful, it needs to continue to grow, produce, and maintain profitability. If a company becomes stagnant they could ultimately fail and go out of business. A great case of this concept is the United States auto industry; in the 1970s Japanese manufactures began advertising smaller fuel efficient vehicles while the United States automakers continued to make large fuel ineffective vehicles. The Japanese accepted a displeased role in the market and past actions validated the research demonstrating there was a market for the new vehicles. General Motors had a similar incident happen when companies like Toyota and Honda built hybrid vehicles to help consumers, General Motors struggled with the pushing of the Volt, a hybrid vehicle that's not scheduled to hit the market until 2013. The foreign automakers found a way to advertise and make a successful pitch to consumers while other automakers have struggled in the approach to make their hybrid vehicle a big hit.

Because General Motors didn't maybe take advantage of the advertising for hybrid vehicles, Honda and Toyota where able to corner the market with a strong pitch to the public to get a jump on General Motors and make the consumers want to purchase a hybrid vehicle. The key to any company being successful they must market their products through television, newspaper, internet and even the radio, selling and advertising is the key factor in any company conquering the market and making sure their product has the best chance of reaching the public.

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