January 28, 2013
Defining marketing can be rather challenging since many definitions for marketing exist. A personal attempt to define marketing will be completed after successfully defining the term from two creditable sources. Based on these definitions, an attempt to explain the importance of marketing in organizational success will be completed.
Marketing can be described in many different ways. It all depends on how the reader interprets or perceives the definition to mean. According to Perreault, Cannon, and McCarthy (2011), marketing is defined as the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from producer to customer or client. This definition is interpreted as how a business measures the success of its product based on how satisfying the product is to a customer.
According to Armstrong and Kotler (2011), marketing can be defined as the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. This definition is interpreted as a need for feedback from the customer to the business based on the product produced by the business and purchased by the customer.
Both definitions deal with how a company gets its product to their clients or customers for the purpose of the customer to purchase that product. To me, marketing is a science. It is how a company studies its target audience (the customer) to produce a product that appeals to them in the best way possible for the audience to purchase. If a product does not appeal to the customer, the product will fail and will not be purchased, causing the business to lose money.
How a business markets a product is of the upmost importance because that is the way the customers...