What is marketing and how is it important to an organization? In the following paper, several definitions will be explored as well as thoughts on the importance of marketing to an organization. In addition, three examples of marketing success stories will be covered and reviewed in support of the ideas listed.
Marketing Defined
Personal Definition
Marketing requires research and stats to focus on a particular audience or customer to gain the attention needed to make sales for products and services. This can be accomplished through the use of advertising, mail-outs, PR and more. However this is only a portion of the marketing "pie". Ultimately, marketing is needed to attain and convince potential customers to do business with your respective company. This is done through creativity, planning, strategies and development.
Source One
"The activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people.
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This is the logo for Yodel Australia. Yodel Austra...People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion." (Answers.com, 2006).
Source Two
Marketing is also defined as; "The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products."(About.com, 2006).
All of these definitions differ, but are all significant factors in the big picture of marketing. It is difficult to define marketing in one sentence due to the many facets it takes to complete the total meaning.
Importance of Marketing
The importance of marketing lies in many aspects, however understanding your customers must come first. Marketing is one of, if not the best way to expand a business or organization.