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Definition of Marketing Essay S.E. Haggerty

Personal Definition of Marketing

Marketing is not just merely selling a product with the intention to achieve sales. Prospectively, marketing is mixed in the varieties of components. When starting from the clothes a person wear, and anything that is used for a valuable purpose, whether it is a product, human, price, place, object, such as a telephone, pen, pencil or a computer. All are incorporated under marketing. Distinctively, marketing is embedded in anything or everything people do. From the product that is built, evaluated, advertised, priced and sold through a human perspective. The world operates under a marketing function, which is a compulsory element. This is because marketing is one of the vital important elements involved in economics on a very wide scale, and moves further into marketing research components.

Some examples of marketing research elements are: Statistical theory that is marketing research and evaluation analysis; regression analysis; quantity and qualitative data; project analysis; financial management; sales; accounting; budgeting; trading; auditing; consumers; shareholders; stakeholders; manufacturers; buyers and sellers relationships. The governmental role and laws play a part in domestic marketing.

Definition of Marketing First Source

Marketing is a combination of the art of sales and the act of advertising the product. When promoting the information of the product, pricing the product, then buy and sell the product in the market. This is taking from the producer to the consumer. For example, the producer build the computers, advertised the computers, promote the information to consumers or buyers, valuate price, then the buyer is decisive of buying the computer. Marketing is the

business function to explore the profitable customer relationship between the manufacturer and the product and the global market trends.

Definition of Marketing Second Source

Marketing is used as a process to identify and meet human and social needs. The organizational function which is a process set to create, communicate and deliver values to customers. This is a tool to benefit the organizations superior worth of value which is an exchange to customers satisfaction of services. Marketing can be considered an activity created by communicating, delivering and exchanging offerings that have value to society. (Perreault, 2004).

The Importance of Marketing in Organizational Success

The importance of marketing is the challenge that many organizations confront. The target is the trial to get the success out of marketing. Longevity and shortage plays a role in the affect or defect in organizational success. For example, if the organization is succeeding with effective and efficient marketing trends, and a steady and accurate financial management, the organization is bound to remain in business longer. If the organization is not succeeding so effectively in marketing trends, then the surplus loss of income flow will cause the organization to have a shorter business life.

The marketing strategies of the organizations success is inclusive of: New brands; products; competitive rates; stabilize price; bonus coupons; new clients; discounted rates; advertising; promotions; public relations; behavioral management; targeting audiences; focused customer needs and satisfaction; new marketing plans; booming sales and revenue growth.

Other economical strategies involve the organization successes importance of marketing are as follows: Supply and demand; stocks; shares; bonds; statistical research of evaluation; revitalization and reinvention of a companys product. New global technology upgraded changes and performances. That is the internet and information transparency, which have an increasingly mobile workforce in business models and technologies.

First Example of an Organizations Marketing Success Definition

Verizon Wireless is the largest cellular mobile provider network in the United States. It provides the surrounding continents with the most vigorous growth, superior and extensive global coverage and international mobility. Wireless networks are available on airplanes and cruise ships. Verizon wireless tests their network everyday throughout more than one million places. The successful achievement of Verizon wireless is the competitive growth of new, faster and reliable mobile technologies. This has attracted millions of people around the world to testify the value and worth of the innovation of the Blackberry devices which have multiple built-in entertainments for customers. Like the push to talk devices; prepaid phone; global satellite; video on demand; mobile TV to view channels, like ESPN: CNN; sports; games and many other entertainments. All these marketing plans have the lowest monthly fees with extensive network privileges, some with change plans with no charge fee, plus free and extensive networks.

Verizon wireless has the best, most competitive marketing strategies compared with other mobile network companies. Another example is: A Verizon wireless mobile phone can be used anywhere inside and out, from the depths of the basement to the deep woods, whereas other mobile network, a customer may have to buy roaming charges to get services in roaming areas.

Verizon wireless was bigger than the government market in sales in the year 2001, and that broke a world record in the marketing history.

Second Example of an Organizations Marketing Success Definition

Coca-Cola is a consumer beverage soft drinks company that markets sodas of different types for different nutritional purposes. Two examples of coca-colas other brands are: Burn, which is an energy drink for athletes, and Odwalla, which is a nutritional protein drink that is good for people on diet and other health purposes.

Third Example of an Organizations Marketing Success Definition

PepsiCo is a consumer beverage soft drinks company that markets other brand products, such as orange juices, a variety of chips; oats cereal; pasta sauce; popcorn; cheese and corn snacks and many other brands.

The examples of definition given between the three companies have demonstrated their own organizational strategy, and success in the vast competition of different marketing arena. That is, Verizon wireless has the fastest wireless network and more product development than other wireless network companies. Coca-Cola only markets soft drinks of different kinds, whilst PepsiCo has marketed a wide variety of other products, apart from soft drinks. The importance between the three companies success demonstrated that customers should be attracted to the company that offers newer and more varieties of different brand products. Supply and demand is the supreme coin of phrase strength of marketing.

References Define Marketing & Marketing Process. (Part 1). (9th Ed.). Armstrong, G. Kotter, P. Prentice Hall Ed. Inc. (2009). Understanding Marketing. (Chapter 1). Define Marketing for the 21st Century. Marketing Management. (13th Ed.).Kotter, P. Keller, K. Prentice Hall Education, Inc. (2009). Basic Marketing Research (Chapter) 5e. Churchill, G. Brown, T. University of Phoenix ground campus library book. HF5415-2.C49. (2004). www.verizonwirelesss.com/future.phones.html. www.pepsico/Brands/Pepsi_Cola-Brands.html. www.coca-cola.com