Defining Marketing Paper

Introduction

The Department of State and Regional Development defines selling as finding out what customers want, then setting out to tally their needs, provided it can be done at a profit. merchandising includes market research, deciding on products and prices, advertising, promoting, distributing and selling (2006). The Center for Media Literacy defines trade as The way in which a product or media text is sold to a cover audience (2003). market is a critical element of the business organization. Marketing is more(prenominal) than simply promoting and selling a product. Successful marketing is refreshing the changing needs of the customer.

The purpose of this paper is to define marketing from at least two different cited sources and personal experiences. establish on these definitions, this paper will explain the importance of marketing in organizational success. In addition, this paper will dodge and provide at least three examples from the business dry land of the importance of marketing to the overall organizational success.

The Importance of Marketing

In orderliness to understand the needs of the customer, the business should implement a clear, summary marketing dodging. A marketing strategy identifies customer groups which a particular business can better serve than its target competitors, and tailors product offerings, prices, distribution, promotional efforts, and runs toward those market segments.



Ideally, the strategy should address unmet customer needs that offer adequate potential profitability. A good strategy helps a business focus on the target markets it can serve best (SBA Marketing Basics, 2006).

The bon ton may have a wonderful product they timbre will rampantly sell, however if the product or service does not fit the needs of their potential and current customers at the offered price, then the company needs to revisit the marketing strategy and revise the marketing plan so that the product or service does spark the...

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