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Defining Marketing

Essay by   •  November 11, 2013  •  Book/Movie Report  •  687 Words (3 Pages)  •  1,341 Views

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Defining Marketing

It remains difficult to explain marketing without researching the subject. Marketing a product/service creates awareness in that market and gives individuals an opportunity to evaluate the product/service. Imagine a superior product made of quality material that obtains excellent features and great packaging; however, then imagine that no one knows about this product (Entrepreneur, n.d.). Unfortunately, a potential buyer cannot buy something he or she does not know exists. This implies that marketing remains essential to promote products and services. The product, price, place, and the promotion of the product remain the topics taken into consideration when deciding on a successful marketing strategy.

Marketing may mean different things to different people. Some individuals may consider advertising to mean marketing; this occurs on a macro-marketing level. On the other hand, the other individual may believe it means to promote a particular organization's product or service through different marketing strategies; this occurs on a micro-marketing level. In other words, marketing may obtain different values for a consumer, a firm, or a society. In Tina Mowder's opinion, marketing consists of obtaining knowledge about someone or something and using that knowledge in a way to promote, sell, or distribute it.

Marketing Examples

The business industry obtains many examples of marketing. One example the founder of Walmart, Sam Walton, uses marketing very successfully. According to Walmart's website, Sam Walton believed in leadership through service (2012). His business remains successful after his decision to market the idea "saving people money so they can live better" through local stores with low prices (Walmart website, 2012). In addition, Mark Zuckerberg uses marketing to promote the social networking site known as Facebook. Marketing remains determined by categories, such as geographic location, the dollar size of one's markets, what products/services, sales, and distribution setup, and many more (Entrepreneur, n.d.). The biggest factor in deciding the best market strategy remains the market situation. Other factors to consider remain the trends in the marketplace and the demographics of the market (Entrepreneur, n.d.).

Definitions

The material that this essay derives information from originates from two other sources: American Marketing Association website and the Entrepreneur website. According to the Entrepreneur website the definition of marketing, "The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's

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