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Defining Marketing Paper

Running head: Importance of Marketing in Organizational Success

Importance of Marketing in Organizational Success

Name

University of Phoenix

Importance of Marketing in Organizational Success

The word marketing can have several different meaning depending on the context in which it is used. This paper will define the term marketing for use in the class Marketing 421. The importance of marketing will also be discussed along with real world examples of this importance.

Definition of Marketing

Dictionary.com (2009) defines the term marketing as “the commercial functions involved in transferring goods from producer to consumer.” This is a fairly simplistic definition. The textbook Marketing Management, 12th edition by Kotler and Keller (2006) define it as “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” (G5). This gives a much more academic perspective on the word. From my perspective I tend to be more on the simplistic side of things and would define marketing as everything involved in the sale or purchase of goods or services. Still be it a simple or academic definition of marketing it can still be difficult to determine how exactly marketing can affect a business.

Importance of Marketing

In narrowing down the definition of Marketing and showing the importance of it let us focus on a few of the key components of marketing, advertising, pricing, and distribution. Advertising is probably the most common thing people think of when they hear marketing. This is because this is the part that is visual to the public. Without advertizing it can be difficult for consumers to hear about products or services that businesses offer. In looking to the business world for an effective example of this the recent passing of Billy Mays comes to mind and the success that he had in selling the OxiClean...