Marketing Essay

749 WordsOct 2, 20113 Pages
An essential tool utilized to increase revenue within an organization is marketing. Marketing can be executed in various forms such as billboards, radio & television commercials. Many perceive the most important aspect of marketing as advertising; however the importance of marketing is also creating a brand. Along with creating a brand, the goal is to create a connection between the brand and desirable quality in the mind of consumers. This marketing is encountered on a daily basis. Whether it is personal hygiene products, or the vehicle you drive, your purchase is affected by your perception of those products overall quality. Ultimately when an organization achieves branding the product, consumers are willing to pay a higher price for the “better” quality. Marketing has a very important responsibility in the economical growth and success of a business or organization. What is the definition of marketing? Marketing is the act or process of selling or purchasing in a market (Merriam-Webster). The definition known throughout the business world as the “Marketing Mix” or the four P’s of marketing consists of; product, pricing, place, and promotion. Combining these four characteristics helps marketing managers satisfy his or her customers in a particular target group. Marketing is about analyzing the consumer needs, predicting his or her wants, and the ability to determine how many consumers have interest in what he or she has to sell. Marketing needs to determine location, transporting the goods or services to this location where there is a demand for it, and how to promote to prospective consumers while beating the competition. Why is marketing important? Marketing is a very significant component of a business or an organizations success. Marketing is one of the main sources for new business and consumers. It presents the product to the

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