My definition of marketing is that it not only involves creative ideas to promote a product or service such as advertising, public relations packaging and promotions, however, it revolves around the process, planning, execution and development through research and the customer's needs.
Marketing has a broad range of facets, so it is not surprising of the many definitions. For example, according to the American Marketing Association the current definition of marketing is an "Ã¢ÂÂ¦organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders." (AMA, 2007). Marketing has a wide range of activities involved in making sure that continuous needs of a company's customers are met and getting value in return. Marketing is usually focused on one product or service (Mangament help, 2007). Successful marketing is constant cycle and strategy.
The marketing strategy process has four steps - situation analysis, targeting, positioning, and marketing mix decisions such as the 4P's - product, place, promotion and pricing.
The right marketing team, strategy and mix will result in connecting with customers, serving the needs of society, and accomplishing the goals of the organization. Through customer satisfaction marketing creates the customer loyalty necessary to reach an organization's objectives. Marketing works by creating valuable exchanges that provide consumer satisfaction.
The most important element of the mix is the product. Good marketing means developing products that fits the market. It needs to be designed to meet requirements of the target market, which is probably achieved by extensive market research. The design must keep pace with market changes.
For instance, Microsoft Corporation is recognized throughout the World as the leader in computer software manufacturing. Microsoft is a profit organization and their brands and logo's can be seen worldwide.