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Defining Marketing
Marketing, financing, and an excellent human resource department are essentials in any organization that is successful. Marketing is the area in an organization that focuses on the needs and wants of customers and turning the needs and wants into satisfaction of the customer. Having marketing an organization can make or break the company. Without marketing, a company can not get the products and goods out on the streets to sell and will cause the company to not make profit. The prices are important as well to the customer. If one can purchase the same thing from another company at a cheaper price, the customer may tend to go with the more inexpensive price.
In the marketing department of an organization, there must be personnel that have the knowledge of bringing customers, new and existing, into the store and purchase things that are a good deal. One must also have the knowledge of pricing merchandise to a customer’s satisfaction as well as bring in profit to the company. Having this knowledge will uplift the company to no end. Marketing research, a marketing plan, and a marketing strategy are also excellent tools to utilize in marketing. Without all these things, the marketing departments can more than likely fail the company as a whole whether it is by not advertising in the correct places, finding what the customer would like to see at the location, promoting sales, and/or planning things. Marketing research is “the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to satisfy customers” (Marketing Research, 2006). Marketing plans are also significant to the success of the company. A marketing plan contains “details of specific tasks worked out by and for a business concerning how market research, product choice and pricing, advertising, promotion and distribution will be done”( ). To run a profitable and successful company, one must...