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Defining Marketing

Essay by   •  October 14, 2012  •  Essay  •  718 Words (3 Pages)  •  1,689 Views

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Marketing is described in many ways by different companies or organizations. This paper will discuss the definition of marketing in a couple of opinions by different organizations and by people. The paper will also have explained the importance of how marketing in different organization can have success based on the different definitions. It will also have examples from the business world that would back up the definitions given in the paper.

Marketing is an act done by a business or organization that connects customers to products; they also provide planning and organizing to a company. "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.", According to America Marketing Association (2012). Marketing is "The management process responsible for identifying, anticipating and satisfying customer requirements profitably." According to The Chartered Institute of Marketing (2011). These are only a couple of many definitions that would define marketing. These three definitions have the strong meaning of how marketing is so important to a company or organization.

Marketing can be defining many ways because of the importance of marketing, and developing the marketing department to be strong within the organization will help success toward the organization. Companies will struggle if the marketing department is not strong, and companies have failed because of weak marketing. In the first definition is the basic definition that gives a small summary on what the marketing department helps within a company. The second definition gives a more in depth on the responsibilities the marketing is needed to help the company bring more customers and stay competitive with the competition. With advertising and targeting different people which would get those types of people in the doors is one of the main task the marketing department is in charge of, and if they are not able to stay competitive this means the company would have some decline in profit or sales. The last definition describes the results the marketing department is anticipating with customers and the ending results with the customers like them experiencing disappointed or they were satisfied with either the service or products.

In the business world these definitions can be used or not, depending on the organization. Here are three examples that will best use these three definitions with three different well-known companies. The first company will be Wal-mart, which has one of the best marketing departments in the business world. The example best used their advertisement is that they will match price with any other company that has their price lower than Wal-mart. This marketing goal is to increase profits and increase more new customers walk in their stores, and take away business from the competitors. The second

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