Defining Marketing

Defining Marketing Paper

Marketing is a very complex subject. In fact, this term has various definitions available for it. However, this assignment is designed to enhance a student's understanding of what the term Marketing stands for. In this assignment, students are asked to prepare a brief summary explaining at least three definitions on Marketing and in turn give their own description of how they perceive or define Marketing. In this summery, students are asked to include an explanation of the importance Marketing has on an organization's success. Furthermore, he or she must also provide at least three additional examples from the business world to support his or her explanations.

Definitions

There are multiple definitions regarding the term Marketing, it all depends on the context in which it is used. For instance, according to Perreault, Cannon and McCarthy, "Marketing is the performance of activities that seek to accomplish an organizations objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client" (2009, p.6).

Marketing is about identifying and meeting human and social needs. However, from a personal standpoint one would state that a short but good definition of Marketing is "meeting needs profitably." However from a social standpoint Marketing is defined as, "Marketing is a societal process by which individuals and groups obtained what they need and want through creating, offering and freely exchanging products and services of value with others." At a manager's standpoint, Marketing is defined as "the art of selling products" (Kotler, and Keller, 2009, p. 5).

According to the American Marketing Association, marketing research is the "function that links the consumer, customer, and public to the marketer through information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process" (American Marketing Association, 2004). The thought is mind-boggling to think about all of the companies with whose products and services individuals connect with daily and the amount of tasks needed to bring a product to market. In this case, the student's personal definition is that marketing is the process of a product coming into life from concept to shelf and making a connection with a consumer who will last a long time, building value, and satisfying the needs of customers.

The Role of Marketing in Organizational Success

Companies that produce and sell what consumers and the market desire will be successful in comparison to companies that simply sell what they produce. Part of achieving success is incorporating a successful marketing mix, which according to Perreault, Cannon, and McCarthy is "the controllable variables the company puts together to satisfy this target group" (2009, p. 33). The marketing mix contains the four P's, product, place, promotion, and price illustrated in figure 2, below. Knoll (2009).

iPod. Mac. iPhone. iPad. The previous are some of the devices made and marketed by Apple, Incorporated, a company known for offering sleek, easy-to-use, highly sought after products worldwide. The company establishes a long-term connection with consumers of varying ages by offering excellent service in their own retail stores and through telephone support that builds loyalty for the brand. Apple places a high value on product differentiation, gaining the upper hand setting prices and availability in the marketplace. For many years the brand was a far second to Microsoft in terms of sales and operating system use. However, over the last few years, the launching of a large-scale advertisement campaign has given the brand an important place in consumers' lives and made the brand hip along with environmentally responsible. Last, the company is enjoying the perception of selling user-friendly devices