Personal Definition of Marketing

Essay by gigi5600University, Bachelor's March 2009

download word file, 4 pages 3.0

Personal Definition of MarketingMarketing in my own definition, is taking a product and planning a way to get the public, or a private corporation, to want or think they need this product. Every item that one sells has a very different marketing strategy. Some need more colors and lights; others may need a darker tone. Overall, it is just a way to make something or someone more interesting to whoever the buyer is. Another definition is Marketing is the wide range of activities involved in making sure that one continues to meet the needs of the customers and getting value in return.

Other Definitions of MarketingMarketing is usually focused on one product or service. Thus, a marketing plan for one product might be very different from that for another product. Marketing activities include "inbound marketing," such as market research to find out, for example, what groups of potential customers exist, what their needs are, which of those needs can be meet, how should they be met.

Inbound marketing also includes analyzing the competition, positioning a new product or service (finding a niche in the market), and pricing your products and services. "Outbound marketing" includes promoting a product through continued advertising, promotions, public relations and sales (McNamara, 2008). Still many different definitions for marketing exist.

Marketing is the process whereby society, to supply its consumption needs, evolves distributive systems composed of participants, who, interacting under constraints - technical (economic) and ethical (social) - create the transactions or flows which resolve market separations and result in exchange and consumption (Bartles, 2009). With these definitions, one can determine that marketing is very important for a company's success.

Importance of Marketing in Organizational SuccessNot only does marketing give a company a way to get it out there to the public, it is also a...