The Definition Of Marketing Essay

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Marketing is a term that is used frequently. Generally, it is thought of as how a company advertises and sells their products or services, but upon reading several sources during the research phase of creating this paper, it was found that there are many more elements involved in marketing. Marketing goes way beyond advertising and selling; it is a focal point of a company that drives the direction the company takes. According to Perreault, there are two definitions for marketing. The definition for micro-marketing was stated as the performance of activities that seek to accomplish an organization's objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and services from …show more content…
All of the above definitions make their points that organizations utilize marketing to maximize opportunities that would best transfer the goods and/or services the organization produces to a purchaser. The trick to this is to determine what the right mix of activities is needed to best accomplish the organization's goals. This involves good marketing management. Good marketing management requires properly aligning the four Ps of marketing to the organization's goals. The four Ps of marketing are product, place, price and promotion. All of marketing encompasses these four areas. When detailing the ‘Product' category of the four Ps, it refers to what would be transferred to the producer. It involves what to offer. Will it be a tangible good or a service? What features will it have? How do the features compare with competitors? The benefits of this product or service must be determined. The quality level is a factor that needs to be detailed. Some industries require much higher levels of quality assurance than others, so this is an important decision to weigh against the cost factors. The industry the author's company is involved in is becoming highly competitive, so the company decided that quality was an important factor in how they wished to distinguish themselves from their competitors. High levels of customer service and high visibility touch

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