Below is an essay on "Defining Marketing" from Anti Essays, your source for research papers, essays, and term paper examples.
August 8, 2011
Marketing is a topic that has many definitions. Marketing assists consumers to decide on major purchases and every day needs as well. In the information below I will provide several different definitions and meanings of marketing as well as describe the marketing mix of Apple, McDonalds, Wal-Mart and Midland Memorial Hospital.
Personally, I define marketing as the processes used to display or advertise a product to be sold. Marketing also can be defined as an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (Kolton & Keller, 2009). According to Business Dictionary (2010), marketing is “the management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4P's: (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” (Marketing, para. 1).
The need for marketing was created by the need to exchange items with others in order for people to gain what was needed to live their lives. In today’s world marketing assist the consumer decide, for example, which television to purchase or which car to buy. An effective marketing plan can set a company apart from its competitors.
A marketing mix is made up of four separate parts:
• Product outlines the product or service asked for by the customer
• Price is important and much thought should go into this step. There should be a set price as well as a discount structure.
• Promotion is where the public relations/marketing/advertising teams will play a large role.
• Place is used...