This is an essay on marketing definition. The essay will include my personal definition of marketing and other definitions from two relevant sources. Basing my argument on these definitions, the essay will explain the importance of marketing in organizational success. Organizational success is the attainment of the organization goals within the stipulated period of time. The essay will conclusively consider three examples from the business world to support the explained significance of marketing.
According to American Marketing Association, marketing is an organized activity involving a set of institutions, and certified processes for creating, communicating with and delivering to, and maintaining customers, partners, the society and the clients in the business world (American Marketing Association, 2010). This is best done through a marketing research which links the marketer to the consumer and the public through the passage of the required information. According to The Chartered Institute of Marketing, marketing is a management process which indentifies, anticipates and satisfies customers’ needs in a profitable manner. Marketing will require planning, co-ordination, implementation and competent management for it to achieve the set targets, goals and objectives (Learn Marketing, 2010). My personal description of marketing is the planned process of indentifying customers’ needs and availing it in the business world in a satisfying mode that will ensure retention of customers and profitability of the company.
There are two main types of marketing; macro-marketing and micro-marketing. Macro-marketing entails the process of directing the flow of products from producers to consumers. Micro-marketing on the other hand entails individual activities of producers within a macro-marketing arena. The main aim of marketing is attracting and maintaining a strong and satisfied customer base. There are principal decisions to be made on marketing; Customers to target, products/services to be offered, price of the products and the method of relaying the information to the customers. In addition the management of marketing must include: managing the customers and processes, managing the brands and supply chains, managing the pricing and packaging, managing production and sales (Launch Engineering, 2004). Marketing is a very important tool for organizational success. It is able to indentify the specific needs of customers hence helping the management of an organization to plan on what to produce. It consequently defines the methods of attracting the customers to the produced products. Through marketing products are availed to the customers. Since the main aim of marketing is attraction and retention of customers in a profitable way, it will ensure that an organization attracts and retains customers in a manner profitable to the organization thus organizational financial success. Marketing similarly provides a direct link between the producers, marketers and the customers.
Examples showing the significance of marketing to organizational success may include: A fishing equipment manufacturer cannot sell its products to the entire US at a glance. It has to use marketing research to determine where possible customers are located, it should the define ways of attracting the customers to its products and according to the tastes and ages if the target group, the manufacturer will decide how to package the product to maximize its profits. All these processes fall under marketing. A cigarette manufacturing company cannot sell and maintain its products in the competitive US market with ease. It will have to define its customer’s needs, reach out to them, relatively price its products and necessarily package them for maximum profits and retained customers. These are strategies of marketing. A beer company like Guinness must define its target customers and equally derive their tastes. This will help the company in producing beer brands that suit consumer tastes. It will also establish ways of getting to its presumed customers either through promotions, advertisements and the like. It will similarly devise the best packaging and pricing strategy for maximum profits and retained consumers in the business world. All these are characteristics of market research under marketing. Hence marketing significantly drives organizational success.