IntroductionIn order to sell a product or service there is a tremendous amount of work involved which is called market research. Marketing is an important function for every organization and the success or failure is based on the type and quality of marketing that is utilized. My paper will explore my own definition of marketing as well as the definition of marketing from other sources. I will also explain the importance of marketing in the organization.
Tim Cohn, a Google Advertising Professional and author, defines marketing as "marketing is to find out what your customers want and then give it to them." Boone and Kurtz defined marketing as 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." The Department of State and Regional Development defines marketing as "finding out what customers want, then setting out to meet their needs, provided it can be done at a profit.
Marketing includes market research, deciding on products and prices, advertising, promoting, distributing and selling" (2006).
My personal definition of marketing is "to identify a target market and evaluate their wants and needs in order to satisfy them better than any other competition. In order to accomplish this, a company must research their customers' needs and make decisions that are strategically sound in regards to product design, pricing, promotion and distribution.
An organization needs to have a concise and clear strategy for their marketing plan. The marketing strategy needs to focus on the customer's needs that are not met and yet will have an adequate profit for the company. The strategy must also address and identify the group of customers the company will serve as well as look at the competitors, prices,