IntroductionWhat does marketing mean? How is it significant to an organization? The term marketing in a conversation tends to trigger thoughts of sales and/or advertising. Even though both of the functions are intimately involved with the marketing process, it would be incorrect to believe that is all that marketing focuses on. The much larger, demanding, and competitive markets have forced organizations to re-define marketing in a whole new light and thus depend on the marketing function to keep an organizations competitive edge marketplace. This paper will define this writer's perception of marketing as well as discuss some well established definitions of marketing. This paper will also explain the importance of marketing has to organizational success. In addition, three different examples from the business world will demonstrate the effect of marketing to organizational success.
Marketing DefinitionsPersonal definition of marketing is that marketing is a department within an organization that is responsible for identifying potential changes in the market and developing plans for exposure in that market by researching, compiling, developing, initiating, monitoring, and fostering relationships both internally and externally.
It is the function of business that promotes and focuses the product to the buyers most in needs or want of particular product or service. Marketing is very important to the success of a company or product because if the product or service does not fit the right market or customer, then sales and revenue will suffer.
According to the text, Basic Marketing, marketing is the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client" (Perreault and McCarthy, 2005). The American Marketing Association offers the following formal definition: "Marketing is an organizational function and a set of processes for creating,