Defining Marketing

Running head: DEFINING MARKETING

Defining Marketing

Tiffany Nicole Jackson

University of Phoenix

Marketing

MGT/421

John Kautenberger

27 June 2007

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Defining Marketing

What is marketing? At first glance, someone outside of the business world might say marketing means going to the market to shop for groceries. It may sound funny, but believe me when I say you will find at least one person who will give you that answer if they were asked, "Define marketing?" But inside the business world, we know it doesn't mean grocery shopping.

When I hear the word marketing, the definition that comes to my mind is advertising a product you want to sell. As I was reading the first chapters of the textbooks assigned to this course, I couldn't find an exact definition for marketing. However the textbook, Marketing Management, stated that the American Marketing Association gave a formal definition.

Market Street

The Verizon Center in the Chinatown neighborhood o...

Market Square, Enniscorthy

It stated that marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

You can find another definition of marketing from the Wikipedia online free encyclopedia. It stated that it consists of the social and managerial processes by which products, goods or services, and value are exchanged in order to fulfill the needs and wants of individuals or groups.

Looking at this definition and comparing it to the previous one, they have one thing in common. Both basically state that the consumers are who you want to cater to in the end, if you want them to purchase your product or service. When a product or service is marketed and is of value to the consumer it can benefit the organization and lead to success.