“Defining Marketing Paper”
A number of people take the concept of marketing as advertising or selling of goods and services. However, my personal opinion differs and explains these factors as a part of its definition. Marketing is a wide topic which includes the marketing research of wants and needs of consumers and a plan to produce a product with a price affordable for the consumers. Marketing also incorporates the design, quality, price, promotion and distribution of a product. All these factors are important to be considered for a fruitful outcome of a particular product.
Boone & Kurtz describe marketing as "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives." (Boone & Kurtz, 1998)
The American Marketing Association defines marketing as “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2004)
Marketing plays a vital role in the success of an organization. Without knowing the needs and requirements of consumers it is more likely that the organization may suffer loss. Marketing is the concept which gives a clear picture of what the customer demands for. It also aims to analyze the organization’s competitors and to improve the product from the competitors.
It is also an aim of marketing to present the product in such a way that it grabs the attention of most of its consumers. Marketing doesn’t merely mean advertising but advertising is an inseparable part of it. For instance, if an organization has carried out the marketing plan effectively except for advertising and failed to catch the attention of consumers, the whole plan fails. Similarly, if the plan is carried out...