When most of hear the word "marketing" we intertwine it with advertising and/or sales. Although marketing and advertising are closely related they are not one in the same. In the discussion of marketing, there are as many definitions of marketing as there are types of marketing. There are also many venues that can be used for marketing purposes. Marketing takes form as written or verbal depending on the source chosen. Marketing occurs on television, newspaper, magazine, and radio advertisements, as well as on billboards and at promotional events.
Marketing, defined by this student, is the resources that a business uses to advertise their products or services. Marketing is how a business gets the message out to consumers about their products and services. The American Heritage Dictionary (n.d.) defines marketing as "(1) the act or process of buying and selling in a market. (2) The commercial functions involved in transferring goods from producer to consumer."
This is a basic definition with no frills or even much detail to it. While marketing may sound simple, it can get very detailed and involved.
Managers face multiple considerations when a business decides to market a product. It involves much more than how to advertise or sell a product. Kotler and Keller (2006) summarize the responsibilities in this way:Marketing managers must make major decisions such as what features to design into a new product, what prices to offer customers, where to sell products, and how much to spend on advertising or sales. They must also make more detailed decisions such as the exact wording or color for new packaging (para. 6).
To remain successful among competitors, management must continually evaluate the opposition to ensure their product retains customer value and satisfaction.
Another definition of marketing comes from the American Marketing Association (AMA) adapted on the...