Company Production and Marketing Essentials

Company Production and Marketing Essentials

Marketing Marketing is a broad term that can be used in company production, sales, or promotion. In many firms, the marketing department is challenged with the task of trying “…to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. The four 'Ps' of marketing are product, place, price and promotion.” (Investopedia, 2008, para.1) To me, marketing is consistent of television, radio, and print ads that influence our decision to buy an item as a consumer. Whether it be a product that eludes to promises of a smaller physique, better appearance, or more popularity, marketing bombards the public with borderline promises. Marketing is primarily thought of as commercial ads of influence, but the term also has many different avenues of characteristics. “Many people believe that marketing is just about advertising or sales. However, marketing is everything a company does to acquire customers and maintain a relationship with them. Even the small tasks like writing thank-you letters, playing golf with a prospective client, returning calls promptly and meeting with a past client for coffee can be thought of as marketing.” (Investopedia, 2008, para.2) To succeed as an organization, marketing is an important aspect. According to the American Marketing Association Board of Directors, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” (AMA, 2008, para. 1) Consumers need to understand and desire the product or service the organization is selling. The company’s marketing department must be innovated, and also research the public to gain insight to the consumer need or desire for the product or service. Research and innovation are a large piece of the marketing equation. In a 2008 best practice study “The Making of World-Class Innovators” published by Prophet,...

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