April 1, 2013
Marketing is one of those variables which cannot be overlooked. Marketing plays a major role in how to reach consumers or how to target a certain market. An organization which sells goods or services invests large amounts of their resources in marketing in order to discover how they can best market their product. This paper will define marketing, give a personal definition of marketing from the writer of this papers point of view, and explain the importance of marketing in organizational success. Definition of marketing is the process an organization takes in order to move customers to purchase either a good or service the organization produces. In its basic definition, marketing is the process of selling an organizations product (Marketing, 2010). Marketing is an important function of any organization. Marketing involves planning and executing phases of conception, pricing, promoting, and distribution of goods or services (American Marketing Association, 2007). Marketing can also be defined as a set of procedures for creating, advertising, and delivering value to customers. Marketing also involves the creation and management of customer relationships for the benefit of an organization and its shareholders. Without marketing, an organizations success will be limited.
Marketing also sets out to understand customers and provide goods or services that will be in demand. The four Ps of marketing Products, place, price, and promotion are known as the four Ps of marketing. Correctly managing the four Ps of marketing are essential for an organizations success. Defining Marketing Products are what an organization has to offer (goods or services) for consumers. Place refers to where the organization intends to offer their goods or services. Place also deals with where the customers are located and how to deliver the goods or services. Pricing deals with how the goods or services will be priced. Promotion deals with how to get consumers to purchase the goods or services from the organization. In promoting the product, incentives to lure customers can be given (Quick MBA, 2007).
The importance of marketing is imperative for an organization to have a well-thought out plan when dealing with a new product. For example, when Coca Cola decided to develop New Coke, The Coca Cola company did several taste tests with potential consumers in order to discover if the New Coke would be successful. Coca Cola did a successful marketing campaign in doing the taste tests, for it accomplished their goal letting of the consumers know of their new product and word of New Coke quickly spread (Coca Cola Conversations, 2008). While most consider that the introduction of New Coke was a disaster, Coca Cola was highly in the news when New Coke was introduced, which can be considered free marketing. Google.com has played an increasingly significant role in Internet marketing. Google has developed Adwords which facilitate marketing over the Internet (Google.com, 2009). With Adwords, organizations create ads and tie-in the ads with keywords. The keywords are useful for the potential consumer when they perform a search on the Internet via Google.com. The keywords will direct the searcher, via the search results displayed, to the organizations website (Google.com, 2009). It is imperative for any organization advertising over the Internet to use Googles Adwords Defining Marketing