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Defining Marketing

Essay by   •  January 28, 2012  •  Research Paper  •  729 Words (3 Pages)  •  1,694 Views

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Defining Marketing

Marketing is synonymous with the terms sales and advertising however these two parts do not accurately define what marketing is. Marketing is much more than just sales and advertising. Large entities such as McDonalds, Starbucks, and Wal-Mart understand the importance of marketing in organizational success and therefore are leading their industries of which they are a part of.

Defining Marketing

Defining marketing is necessary so that one may overcome the preconceived notion that sales and advertising are the only components of marketing. Marketing is the promotional ability to attract consumer transactions through products or services that are able to meet the needs and desires of consumers. Effective marketing demonstrates the ability of a product to in essence sell itself because it meets the needs or desires of consumers exceptionally. Perreault, Cannon, & McCarthy (2011), define 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" ("Marketing defined"). According to the American Marketing Association (2011), "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" (para. 2). From these three definitions of marketing one can conclude that the variety of activities that are a part of marketing are indeed more than just sales and advertising.

Marketing is an integral part of organizational success. Meeting the needs of consumers by way of gathering information, marketing research, and translating that information into knowledge and applying it to the organization's efforts to meet those needs can give an organization a competitive edge. An organization that has a competitive advantage in its industry understands the importance of marketing in organizational success.

Business Examples of the Importance of Marketing in Organizational Success

McDonalds is an organization that demonstrates the importance of marketing in organizational success. Consumers world-wide know that when one is in the presence of the golden arches that convenient tasty fast food is abound and one knows exactly what to expect of one's dining experience. In 2006, upon recognizing a growing new trend in the high-end beverage market, McDonalds found an avenue by which it was able to increase coffee sales by 40% in less than a year by introducing the Premium Roast coffee. Building on that success, McDonald's began offering specialty coffee adding McCafe coffee bars to its existing restaurants (Perreault, Cannon, & McCarthy, para. 7, 2011).

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