Defining Marketing Paper

Essay by christinasUniversity, Bachelor'sA, September 2007

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Marketing can be defined in many different ways; however it generally has the same roundabout meaning and evolves with the changing ways of business. I for one, define marketing as the decisions and actions taken to get your business name and what you do, or your product out to your target audience. The American Marketing Association released their new definition of marketing in August of 2004 as, "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". The On-line Free Management Library states their definition of marketing as "the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and getting value in return". Even though their can be several ways of defining marketing, they all have the same end result - to get your service, or product to the client-base, which will have a profitable return.

Based on the different definitions I have listed above, the main goal in marketing is to get your service or product to the proper clientele in a way that is profitable to your business. If a company does not do this they can in turn loose their business by targeting the wrong people, or not putting the first expense out there in marketing to get the desired return business. There are several marketing strategies out there that will assist in this process. For example, there are several new restaurants opening every year and most do not make it through the first year. There are many reasons this may happen, one may be that they do not take the time to market the new business to get people in the door. The odds of...