Marketing

Definition of MarketingI have always related marketing to advertising until reading more about this subject. This paper attempts to define marketing based on reading material and personal definition. To further define marketing, two different resources will be offered as well. The importance of marketing will be covered including three examples to support my explanation.

MarketingMarketing is a process involving the execution of a conception and simply not just advertising. Marketing is an integral part of any company in order to get a product to a consumer in order to make a profit for the company. The process of marketing also helps to identify growth opportunities involving different activities.

Research generally begins all marketing. A company needs to identify a target market and products or services to be sold. Information collected during the research activity includes demographics, psychographics, and competition. An analysis of the information gathered can help determine opportunities trends strengths, and weaknesses.

Market Street

Asian Family Customers Shopping in The Super Marke...

[Fish market, Bergen, Norway] (LOC)

From this information, strategies and plans can be made to implement a marketing plan.

Another advantage of research is product development. Through the research activity, untapped opportunities may be revealed. Interviewing consumers about a particular product or service may lead to other enhancements and other product lines not originally conceived by the company. One example may be the development of the mouse for computers.

Branding is also another activity of positioning a product in the marketplace to establish how the product is perceived by the consumer. An example could be over- the- counter medicine like headache medicine. Years ago, sales of Tylenol dropped after a case of tampering caused someone to die. The Tylenol name brand received negative consumer confidence until the company started selling the product with a protective seal. Eventually, Tylenol regained market share of their name brand medicine through an aggressive marketing campaign...