Definition of Marketing

Essay by dkamanaoUniversity, Bachelor'sA-, September 2009

download word file, 5 pages 0.0

I am going to tell you about marketing, what it means from my own viewpoint and what some fancy books say. Let's start with the Definition of Marketing per the American Marketing Association: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The definitions came from American Marketing Association Board of Directors. A new definition of marketing was adopted October, 2007. Okay, that's one definition, now a second definition is: the process by which products and services are introduced to the marketplace. This definition comes from The last definition I have is from an oldie but a goodie, a dictionary: mar•ket•ing, noun1. selling of products or services: the business activity of presenting products or services in such a way as to make them desirable2. grocery shopping: the buying of household supplies, especially fooddid our marketing for the weekThis definition comes from Encarta® World English Dictionary [North American Edition] © & (P) 2007 Microsoft Corporation.

My own definition is somewhat near all of those. Before I read the chapter assignments I always thought that marketing was more or less the advertisements, and commercials you saw everywhere. But I was definitely wrong; marketing is so much more in the new business world.

The business world and marketing, what makes is so important that if you want to be a success in business you must use the right marketing. The following are some of the things that a business must do as part of its marketing plan. 1. Analyze the needs of the people; find out what they really want. 2. Predict what different customers will want and decide which of these people the firm will try to satisfy. 3. Estimate how many of...