Marketing Definition
Essay by 24 • December 10, 2010 • 574 Words (3 Pages) • 1,390 Views
Marketing Definition
Marketing MKT 421
According to Casro "The marketing concept holds that key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors". (CASRO, 2001) Any business, whether it sells a service or a product, has to be aware of its consumer wants and needs in order to stay in business for any length of time.
As stated by Marketing Profs "Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals." (n.d.) The big picture definition is, marketing would be the art of convincing other people to buy what your selling, by fist finding out what they want, and then deciding the best way for your company to profit and at the same time fulfill their needs.
To use an analogy to illustrate how marketing plays a part in an organization, one might say the production side of the company is the physical part of the human. The financial part is the brain, the sales part is the energy, and the marketing part is the emotional structure that brings the body to life or animates it. Without marketing Frito-Lay would still be selling salted Fritos, and salted Lays and not making much money in this day and time, because the part of the population that wants snacks that are good for you or ethnically appealing, would not buy them. It is like a person with no emotion, which is just boring. In another real sense, marketing is also the company's liaison between the company, the consumer and customer.
Marketing research determines who wants the products and how those same products could change to make them even more desirable. For example, a couple of years ago, Frito-Lay marketing was tasked with coming up with packaging that was more durable, in that it could be taken on a camping trips, or any family trip, without fear of crushing the product. As a side note the packaging was to be wrapped in something fun and appealing to children. In response, Ð''Go
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