Defining Marketing Essay

646 Words3 Pages
Defining Marketing Roger Burnham MKT 421 June 3, 2013 Robin Reis Defining Marketing Marketing’s role in business begins when an individual or company develops a product or service that satisfies the needs of others. One will discuss his or her definition of marketing, and the business definition of marketing. The success of marketing as determine by these definitions, and three companies that apply these methods successfully. Definition of Marketing One’s definition of marketing is promoting the products or services of the company that will enable the company to become profitable. William Perreault “defines marketing as the performance of activities that seek to accomplish and organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from a producer to customer or client” (Perreault, Cannon, & McCarthy, P. 6, 2011). Kotler and Keller define “marketing as a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others” (Kotler & Keller, P. 5, 2012). After further deliberation the true definition is satisfying the needs of the consumer. Importance of Marketing and Organizational Success The success of a business depends upon marketing of products or services. For marketing to be successful the organization needs a plan to satisfy the needs of the target market. The elements needed for success in marketing are planning, implementing, and controlling. These three steps are important because planning gives one direction, implementing puts the plan into action, and controlling measures the results. Developing the marketing mix should include “the four P’s of marketing product, place, promotion, and price” (Perreault, Cannon, & McCarthy, P. 35, 2011). Knowing the

More about Defining Marketing Essay

Open Document