Marketing
Marketing can be described as advertising a product. Marketing occurs when a company is trying to persuade costumers to buy the product that they produce over another company's product. Marketing includes intensive research so that the company can get an outlook at what is the current trend in the marketplace. The problem is that marketing in theory contains these following activities also known as the 4-Ps which are developing the product, pricing the product, promoting the product and deciding what people to sell the product.
Marketing deals with identifying and meeting human and social needs. Marketing can be defined as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. (University of Phoenix, 2006) According to the American Marketing Association defines marketing as an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. (University of Phoenix, 2006)
According to the Marketing Principals book marketing can be defined as an organizational philosophy has been based on the marketing concept. This concept consists of three interrelated principles such as:
? An organization's basic purpose is to satisfy customer needs.
? Satisfying customer needs requires integrated and coordinated efforts throughout the organization.
? Organizations should focus on long-term success.
Based on these definitions, explain the importan ...