Define Marketing Paper

Defining Marketing Paper

Introduction

The Department of State and Regional Development defines marketing as "finding out what customers want, then setting out to meet their needs, provided it can be done at a profit. Marketing includes market research, deciding on products and prices, advertising, promoting, distributing and selling" (2006). The Center for Media Literacy defines marketing as "The way in which a product or media text is sold to a target audience" (2003). Marketing is a critical element of the business organization. Marketing is more than simply promoting and selling a product. Successful marketing is satisfying 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. Based on these definitions, this paper will explain the importance of marketing in organizational success. In addition, this paper will outline and provide at least three examples from the business world of the importance of marketing to the overall organizational success.

The Importance of Marketing

In order to understand the needs of the customer, the business should implement a clear, concise marketing strategy. "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 services 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 company may have a wonderful product they feel 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 interest of the customer. Contrary to popular opinion, it is the customer's present needs dictate the marketing strategy to the business, not the other way around. Without effective marketing, the product will not sell and eventually fail.

Effective Marketing Examples

It is very important for a business to understand effective marketing, as what may work for one company may not work for them. Business need to review the important strategy of the four P's, which are product, place, price and promotion. In other words, it is important for the business to understand what they are selling, where they are selling is, how much they are selling it for, and to whom they are selling their product.

"Just as you do in your business plan, you will need to pull the many pieces together to demonstrate how you will reach your target audience. For example, if your plan is to increase the sale of your brand of healthy popcorn to a teen market, you might show how you will distribute samples at school activities, sponsor a series of events for teens and propose articles on the health benefits of your popcorn to teen-oriented magazines and Web sites" (All Business, 2006).

As stated above, The Center for Media Literacy defines marketing as "The way in which a product or media text is sold to a target audience" (2003). A business needs to understand their product and the features that make it stand out from their competitor's product. In other words, what features does their product have that their competitor's product does not?

In today's times, people are becoming more health conscious. Therefore, a product that offers a healthier choice or contains fewer calories will appeal to consumers more than a product that does not. For example, Total Cereal, made by General Mills, offers cereal that is lower in calories and supplies 100% of the US Department of Agriculture's recommended daily allowance for different vitamins and minerals than their competitors, and uses those features as their marketing strategy in their advertisements. These features are what put them on the competitive edge and what attracts the consumer.

Another example would be the ongoing competition between cellular companies. Coupled with dynamic technology, wireless carriers need to know where their prospective clientele is located. In other words, a wireless company should not promote their service if the carrier does not have network coverage in the customer's area. In addition, the company should test their phones to ensure complete handset and network reliability. One of the biggest downfalls a cellular carrier faces is it sells a phone with service to a customer, only to have the customer return irate that there is no network coverage in their house or at their place of business. Although their monthly pricing plan may be the best plan offered, effective marketing