Define MarketingDefine MarketingDefine MarketingWhat is marketing? Marketing can have different definitions based upon the source or person giving the definition. Marketing is an essential component of any business, and understanding the exactly what marketing means to a company can mean the difference between success and failure especially for new companies. This paper will define the term marketing using definitions from two different sources and a personal source. This paper will also further explore the importance of marketing in organizational success based on these definitions.
DefinitionA personal definition of marketing is all the activities a company performs to capture the market share for their product. Anything a company does to ensure the sell of goods or services can be considered a part of marketing. Marketing includes the producing a product, promoting the product, correctly pricing the product, and placement of the product. Each of these categories contains numerous tasks that need and should be accomplished to ensure a successful marketing plan.
According to Boone & Kurtz (1998), “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives” (para. 5). This definition of marketing attempts to encompass the vast and complicated field of marketing. The definition shows that marketing is much more than just advertising and other aspects do exist.
However, definitions do vary between sources. Another definition of marketing is “The act or process of buying and selling in a market or the commercial functions involved in transferring goods from producer to consumer“(Marketing, 2000, para 1). Although this definition captures the overview of marketing, the definition does not give a complete picture of marketing.
Marketing is often mistaken for just advertising or any of the components that define marketing. Many fail to recognize or understand the vastness of the marketing field, and the intricacies that are involved with producing a successful marketing plan.
Importance of MarketingThe importance of marketing is easily summed up by Regis McKenna, (2003), “Marketing is everything, and everything is marketing” (para 3). Marketing is an essential part of any company, and the importance is often hidden. A company’s main priority is to turn a profit. To accomplish this task, the company must create a demand for their product through marketing efforts. Companies often fail to accomplish the research into the development of new products to ensure a demand will exist for the product. In 1985, Coca-Cola was losing the cola battle to Pepsi, and decided to change the flavor of Coca-Cola (Ross, 2005). Blind tastes test performed by the company showed that the New Coke was preferred over the original recipe. However, the company failed to take into consideration public emotion. The company failed to ask “Do you want a new Coke?” (Ross, 2005, para 8). According to Keough, Coca-Cola president the company “…did not understand the deep emotions…” of the customers (Ross, 2005. para 6). Had Coca-Cola performed more extensive marketing research for the new product, then the product may not have been introduced or the marketing department could have found a different angle to use to make the product profitable.
The importance of marketing is also seen in the release of the iPhone. The company did an excellent job in promoting the product through advertising, however, failed in two other areas of marketing: pricing and placement. Apple created a strong hype over the release of the iPhone, but only released limited quantities. “Once the hype has washed off, they’ll [Customers] just decided it’s not worth the money” (Observing Polarity, 2007, para 33). Apple left this market wide open for competitors to release similar products at a cheaper price. If Apple had produced more iPhones for the original release more people would have been able to purchase the phone at the current price tag, thus making more profit for Apple. Now that the hype has died down, people are now less excited about purchasing an iPhone at the current price tag especially when other company’s will soon be releasing other products that will be able to compete with the iPhone. Apple’s advertising and promotion
The Role of the Marketing Director: A Marketing Director is a key element of marketing and ensures that they understand the potential of their work. [If you need to understand how a marketing director functions, the title of your article is also relevant]. If you need a good overview about how a marketing director works and how to develop your own writing, you will have to read this article. You’ll learn about how we work, how it helps you build your brand, and how you’re the marketing manager to support all 3 key factors for growing your brand.[How to Learn: Marketing to Build Your Brand]A Marketing Director needs to know the unique characteristics of each individual brand, and how their sales track is structured and executed. A marketing director is responsible for developing the marketing team’s knowledge of the user’s tastes, preferences, and habits, and, when required, communicating with the users.[How to Learn: The “Coffee and Beer Marketing Handbook” By Jody G. Pritzker)The Coffee and Beer Marketing Handbook is a book about two types of marketing: coffee and beer. You’ll learn to prepare yourself for such a large, dynamic industry, and you will learn about how people consume their coffee. It’s also valuable when working with consumers in an audience, too, what types of flavors or flavors are best for your brand.[How to Learn: Your Facebook and Twitter Accounts]In this article, I’ll outline some of the fundamentals of marketing, and I give you a few ways you can build your product.
Why you can create a great marketing plan for your brand.
What you need to figure out about brand messaging
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