Groupon – Define MarketingEssay Preview: Groupon – Define MarketingReport this essayDefine Marketing PaperPersonal Definition of MarketingMy personal definition of marketing would be when a company wants to sell a product then they would test, research, and understand the benefits of the product to the consumer. Once they have obtained the information needed then they would need to promote the product then they would come up with slogans and ways to advertise the product so people would want to purchase the product.
Marketing from Other SourcesIn our text book Marketing Management, the authors Kotler and Keller (2011, pg. 5)mentioned thatThe American Marketing Association defined marketing as “the activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
“The management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4Ps: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customers place, and (4) development and implementation of a promotional strategy” (BusinessDictionary.com, 2012).
Importance of Marketing in Organizational SuccessIn our text book, Perreault, Cannon, and McCarthy (2011, pg. 6) wrote “marketing is important to the success of every organization.” One of the reasons that it plays an important role in the success of an organization is that it encourages research and innovation, which allows for the development of new ideas, more goods, and better services for the customers. It also allows a company to introduce a new or improved product to the world which customers may not have known or ever heard about if it wasnt for marketing, therefore marketing helps to introduce a product and allows a company to come together to come up with new ideas to help promote the new product.
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