In today’s marketplace it is not enough to create a useful, ingenious, product; an organization must know how to inform the public and create consumer demand for the product. These steps are both small elements of marketing. This paper will include the author’s personal definition of marketing, as well as two cited definitions from respected sources. In addition, the author will explain the importance of marketing in organizational success citing three examples from the business world.
Advertising is the first thing that comes to mind when thinking of marketing; however this is short-sighted and just a small part of marketing. Marketing should begin at the product design stage where the consumer’s needs and wants are incorporated into the product during the manufacturing stage. This creates a product that is marketable and improves the odds of success for the organization. Marketing is the process of creating a product that meets consumer needs, communicating this need to the consumer and delivering the product at the right place and time.
Perreault, Cannon, and McCarthy’s Definition
There are many definitions of marketing, according to Perreault, Cannon, and McCarthy (2011), “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 need-satisfying goods and services from producer to customer or client” (pg. 6). This definition highlights the importance of identifying customer needs during the product development stage. Imagine if an organization created shoes for the teen target market. Producing them in last year’s trending colors will most likely result in low-sales figures. The organization must anticipate current and future trends to satisfy customer needs and wants to increase sales.
Kotler and Keller’s Definition
Kotler and Keller highlight other...