Defining Marketing
The term marketing in a conversation tends to trigger thoughts of sales and/or advertising. Eventhough both of the functions are intimatley involved with the marketing process, it would be incorrect to believe that is all that marketing focuses on. In fact this may have been a truth in the past but times have changed and with that change has come major rethinking in the area of marketing. The much larger, demanding, and competitive markets have forced organizations to re-define marketing in a whole new light and thus depend on the marketing function to keep an orgaiztions competitive edge marketplace. This paper is intended to first identify and discuss the definition of marketing as it is applied in this day and age, second discuss the importance of marketing to an organization and finally cite examples of the effect of marketing.
There are many definitions for marketing and they all tend to have some truth. The definitions in this paper where taken from two sources highly involved in the marketing process and one source that is a student in their first marketing class. The first definition comes from the American Marketing Association and states that 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, 2006) The second definition for consideration comes from the text entitled Marketing Basics and states that "marketing is the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of n ...