Marketing is part of all of our lives and touches us in some way. To be successful each company that deals with customers must not only be customer driven but customer obsessed. The best way to achieve this objective is to develop a sound marketing function within the organization.
Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Merriam-Webster 2007). Marketing is a key factor in business success. The marketing function not only deals with the production and distribution of products and services, but it also is concerned with the ethical and social responsibility functions found in the domestic and global environment.
The American Marketing Association defines marketing as "the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods or services to create exchanges that will satisfy individual and organizational objectives."
This can be simplified as the 4 p's which are: product, price, place, and promotion.
Many people consider marketing as a tactic. However it is more that just a tactic. Marketing is analysis. According to Allen Weiss (2002), marketing is the analysis of customers, competitors, and a company by incorporating the understanding of competitive analysis and company capabilities into a general understanding of what the existing segments are.
Marketing Examples: BOEING Boeing has successfully implemented its marketing strategy. It has realized success in this by increasing the lead on its major competitor, Airbus. Boeing recently announced two $1 billion deals despite Airbus' newest advancement in the heavy liner market. Boeing has taken advantage of Airbus' missteps with its newest flagship the A380 super jumbo jet. Airbus has also stumbled over its re-launch of the workhorse A350.
Boeing has seized this opportunity to expand its...