Definition of marketing.
On my best understanding of marketing, marketing is the process in which a company, product, service, or organization create, develop, produce, advertise, promote, and sell their products and services.
Marketing consist of different areas and these areas depend on each other to accomplish the goal of the organization. Those areas can consist of but are not limited in the analysis of the needs of the consumers, the abilities to use the product, the cost on the market of the product or the service to be competitive, the kind of customer interested in the product or the service, this kind of customers can include sex, age, race, education, or even the culture in which the customer was educated.
An areas in marketing that is include in the research, is to know how many companies or organizations are in the area to be developed for the product or service. Also is important to know how competitive these companies or organizations can be with a new product or service to be offered in an area or market already established. In this research is important to know how this companies or organizations do their own marketing, what are the prices, how they offer the different services or what kind of warranties on the products or services.
Is important to understand that marketing is part of every person daily life, good marketing can help people making personal choices in their lives. Marketing can help people to decide where to go to eat, where to buy a car, what kind of car to buy, and even where to go to get services in their cars. Marketing is also used by medical and health companies and services, which help people to decide where to go for medical and health services or even the medications that they can use for any medical complication.
According to the American Marketing Association Board of Directors, (marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large) (Approved October 2007).
According to "Marketing" (2013), (marketing is the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing):
(1) identification, selection, and development of a product,
(2) determination of its price,
(3) selection of a distribution channel to reach the customer's place, and
(4) development and implementation of a promotional strategy.
The importance of marketing in organizational success
Marketing is the backbone of any company or organization, if a corporation does not have good marketing, this corporation or company would not be able to success. A good marketing will be the way for the organization to promote, offer, and sale their services or products which is the main goal of any corporation or company.
Marketing can change the way of life of the people around the world. This changes can be made by the marketing process in which people will see a new product or a new service in the market and that can be a reason for someone to change choices at the time of a decision making process.
Today is easier for customer to search and find new and more products and services because of the simplicity that the Internet services offer for those customers and the marketing departments of the different organizations and companies take advantage of this to promote and offer their products and services.
The Internet also helps the marketing departments of those organizations and companies to do their own researches and study the market and understand the needs of the customers to offer and satisfy those needs.
Examples from the business world
The McDonald’s company is one of the biggest chains of fast food around the world. McDonald’s is known around the world for their food, but more…