Friday, December 27, 2019

Defining Marketing - Importance of Marketing in...

Defining Marketing Michelle Watson Marketing 421 April 16, 2012 Kim Wm. Houseman Definition of Marketing Marketing is often misunderstood. Ask the average person how they would define marketing and a majority would reply with something along the lines of commercials, ads, brochures, and other items used to market a business. Marketing is complex. It is a process, a practice, and a philosophy. As a process, it moves goods and services from an idea all the way through to the customer. As a practice, it embodies the elements of product, price, place, and promotion. As a philosophy, it is the basis of how customers’ needs and satisfaction are met by the business’ product or service. According to Perreault,†¦show more content†¦Nike uses successful and famous sports figures to endorse their products. Consumers are willing to pay higher prices for items that they view to be superior in quality, reliability, and style. Brand management is one of Nike’s greatest strengths. For example, basketball-great Michael Jordan’s succes s on the basketball court led to hundreds of millions of dollars’ worth of sales of Nike’s Air Jordan line of products. Tennis, golf, and soccer are other sports where the Nike brand has made a large impact on fashion, style, and sports equipment. McDonald’s is another company whose marketing success has made it the world’s largest food service retailer. It serves millions of customers around the world and has franchises in more than 100 countries. McDonald’s reaction to consumer trends and expectations is what has risen this empire to the top. The consistency of the restaurant’s product maintains its customer base and meeting social consumer needs by sharing nutritional information and providing healthy menu options continues to grow its customer base as well. Last but certainly not least, Apple is quite possibly the world’s best marketing company. Steve Chazin, former Apple marketing executive and consumer marketing expert curr ently maintains a blog and has published and eBook highlighting Apple’s five secrets of marketing to become the world’s most valuable company. He condensed the secrets from what he learned throughout his 10Show MoreRelatedDefining Marketing805 Words   |  4 PagesDefining Marketing Colleen P. Dalton MKT/421 November 26, 2012 Stephanie Burns Defining Marketing The purpose of this paper is to define the term â€Å"marketing†, explain the importance of marketing in organizational success, and provide examples from the business world to support the explanation of its importance. Upon completion of this paper it should be understood what Marketing means and its importance in today’s society. Marketing There are many definitions of the term â€Å"marketing†Read MoreDefining Marketing981 Words   |  4 PagesDefining Marketing What is marketing? More important, what importance does marketing have on an organization s success? In this paper, marketing will be defined. Included will be my personal definition of marketing, the definition found in Marketing Management, and the definition found in Basic Marketing. Based on these definitions, I will explain the importance of marketing in organizational success. Definition of Marketing There are several definitions of marketing. Although many sourcesRead MoreDefining Marketing Paper1010 Words   |  5 PagesRunning head: DEFINING MARKETING PAPER Defining Marketing Paper Bonnie Garcia University of Phoenix Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, Your most unhappy customers are your greatest source of learning . The purpose of this paper is toRead MoreMarketing Definition1002 Words   |  5 PagesMarketing definition Every company depends on an efficient marketing program to fulfill customers needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing orRead MoreMarketing Definition Essay962 Words   |  4 PagesMarketing definition Every company depends on an efficient marketing program to fulfill customers needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing orRead MoreDefine Marketing Paper1241 Words   |  5 PagesDefining Marketing Paper Introduction The Department of State and Regional Development defines marketing as finding out what customers want, then setting out to meet their needs, provided it can be done at a profit. Marketing includes market research, deciding on products and prices, advertising, promoting, distributing and selling (2006). The Center for Media Literacy defines marketing as The way in which a product or media text is sold to a target audience (2003). Marketing is a criticalRead MoreComponents Of Functional Operations Management994 Words   |  4 PagesFunctional tactics are the main, repetitive activities that must be undertaken in each functional area such as marketing, finance, production and operations management (POM), and personnel (Pearce Robinson, 2011, p. 271). Specificity, timeframe and participants are the 3 vital areas that must be addressed as these elements are what make functional tactic different from business and corporate strategy because they are actions items that will occur in the near future. The following essay will discussRead MoreTop Management For Crm And Practicing Crm Essay1683 Words   |  7 Pagesand social customs that compel behaviors. Organizational infrastructure: There are two types of organization Organic and mechanic with different value creation. Mechanic organization leads to insufficient, ineffectiveness, powerlessness and prohibiting sharing knowledge and expertise among employees and managers. Organic organization is flat and network structure has low functional barriers, foster cross communication, allows the sharing of organizational, building new knowledge and seems it can facilitateRead MoreExamining Organizational Development and Business Strategy: Case Study of Skoda1021 Words   |  4 Pagesexamining organizational development and business strategy based on a case study of Skoda Company. The article begins with an evaluation of existing definitions of organizational development and a personal definition of this concept. This is followed by an evaluation of one of the strengths of Skoda Company and how the company can benefit from this strength. The importance of organizational development in light of SWOT analysis and strategic planning is also discussed. Keywords: organizational developmentRead MoreSwot Analysis1676 Words   |  7 Pagesachieving that objective. The technique is credited to Albert Humphrey, who led a research project at Stanford University in the 1960s and 1970s using data Strategic Use: Orienting SWOTs to An Objective If SWOT analysis does not start with defining a desired end state or objective, it runs the risk of being useless. A SWOT analysis may be incorporated into the strategic planning model. An example of a strategic planning technique that incorporates an objective-driven SWOT analysis is SCAN analysis

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.