Defining Marketing Paper

A business must be highly competitive in the business markets today. For a business to grow successfully, remain sustainable, and competitive a business needs a good understanding of a marketing plan, and the knowhow to put the concepts to work for the business achieving a successful marketing strategy. Remaining successful when an economic growth has leveled out shows a sustainable business. Competitors that follow the same marketing concepts will need to develop a good marketing plan, and implement the concepts into a marketing strategy to remain a competitive business. A good marketing strategy contains a marketing plan describing the products offered, and taking into account

Marketing Plays a vital role in a business, because of marketing the business can offer their offerings and to their customers and provides the services. Marketing is a combination of 4 P’s which are Product, Prize, Place and promotion, to Analysis the marketing of this business, I am explaining the

This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P’s of marketing. The next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification. This strategy calls for companies to attain current or new businesses allowing them to “diversify” their offerings and break into new markets.

A marketing strategy provides a big picture of what a firm can do in a specific market. When creating a marketing strategy, a firm must identify a target market and a related marketing mix. A target market is "a group of similar customers to whom a firm wishes to appeal," and a marketing mix is "the controllable variables the company puts together to satisfy this target group." (Perrault and McCarthy 36) Focusing on specific target customers can help a firm develop a marketing mix that satisfies those customers ' specific needs better than another firm, making a firm less likely to face direct competitors.

Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

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Marketing is a management function which involves creating, communicating and delivering value for an organisation’s customers (Kotler, Brown, Burton, Deans & Armstrong (2010). Although many earlier academics define marketing as merely a process of satisfying customer needs in order to gain profits, more recent developments of the definition include its inherent connection with delivering superior value to customers in order to maintain ongoing relationships (Webster, 1992).

This entire process is known as marketing management " the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value" (Kotler & Keller, p.5).

Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.

Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

“There are four main elements to our business model – product, distribution, communication and price. Our job is to do such a fantastic job on the first three that people forget all about the fourth.” (Bernard Arnault, CEO of Moët Hennessy-Louis Vuitton. Taken from

The new era slogan could be “His Majesty the Customer."  Businesses recognize that one single product is not right for everyone, so consumers are classified into groups -market segmentation - and these groups will then be assessed what are the needs of these consumers. This is called market research.

In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and