Defining/Importance of Marketing
Introduction
When most people think of marketing the first thing that probably pops into their mind is some advertisement on TV or a commercial they listened to on the radio. However, knowing what exactly is marketing and why it is important helps fill in the gap before the advertisement or commercial was aired and the intent behind producing it in the first place. The intent and importance marketing and how it contributes to organizational success are key and understanding both micro and macro marketing concepts. This and some key examples on marketing success stories will provide a clearer picture on the definition and importance of marketing in today's society.
Definitions of Marketing
My personal definition of marketing before reading the chapters in Basic Marketing was quite naïve to say the least. I believed that marketing was a way to get the consumer to buy a product that they did not want or need so that some company could get rich off the consumer. My socialization process and understanding marketing was influenced by growing up in the marketing department era when marketing was ratcheted up a notch and the consumer was inundated with buy, buy, buy. This approach appeared to be solely focused on selling products and incorporating all organizational assets to do so. Upon finishing reading the chapters I realize that marketing is broken down into two distinct categories with individual definitions; micro and macro marketing.
Chapter One states that; "Micro-marketing is 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 producer to custome ...