Marketing

Essay by kbingham September 2010

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Marketing � PAGE \* MERGEFORMAT �1�

Introduction

Marketing is simply stated as the process a business takes to introduce product(s) and or service(s) in to the marketplace to potential consumers. In this paper I will describe Marketing and the philosophy behind it while explaining the important role Marketing plays in the success of an organization. I will also give some examples of how marketing can be used by a business by introducing what is called the (Marketing Mix) - Product, Place, Price, Promotion.

Marketing

Marketing can be described in many ways. The American Marketing Association defines marketing as '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' (AMA, 2010). By doing marketing research a business can connect the consumer, the public, the marketer, and the customer by using information to help in identifying opportunities that will help a business to grow and analyze what can make them much better.

The business dictionary states that Marketing is a 'process through which goods or services move from concept to the customer' (Business Dictionary, 2010). The thinking is to look at the needs of the customer and satisfying them. There are really four ways or elements to put this into practice. The first is identifying and developing a product or product line. Next determining the price it will be sold to the consumer at, third is determining a channel or way to distribute the product to the customer and last would be developing some type of strategy to market or promote the product(s).

This philosophy is much different than selling in that there are certain techniques and tricks one can use to get people to let go of their hard earned money. Marketing incorporates...