Saturday, August 17, 2019

Defining Marketing Essay

To answer the premise of the paper, ‘Defining Marketing’ a definition of marketing is a proper beginning for consideration. My personal definition of marketing is the concept or premise of a function in which products, goods or services are transferred to a consumer or client by a producer or seller. Other definitions exist to describe marketing aside from the prior definition. Marketing has been described as, â€Å"A management process identifying, anticipating and supplying client or consumer requirements with efficiency and profitability.(Tutor2U, 2010) In that same article marketing is described as â€Å"human activities that are directed at facilitating and consummating exchanges. † (Tutor2U, 2010)This last expression or definition rings true, in that as a consumer I want appeal, product or name recognition, quality, and value for my money. The sellers or producers are engaged in making a profit and ensuring a positive client experience and consumers or clie nts who want products that are within their budget, durable and meets the expectations of the transaction; thus a deal can be made between the two entities. In the course text, Basic Marketing, by Perrault, Cannon and McCarthy, the term marketing is further defined as â€Å"performing activities seeking to accomplish an organizations’ objectives through the anticipation of customer needs and directing the flow of need satisfying goods and services from producer to client or customer. †(Basic Marketing, page 6, 2009) Marketing is important for organizational success along with companies having flexibility, exuding a transparent organizational culture and challenging employees to excel and remaining accountable for their actions. Many companies and organizations struggle to find the right balance in management to ensure the company growth and achieve profitability. Marketing can plan an important role in companies excelling with their corporate goals. The use of marketing is how companies conceive and promote corporate brand management and strategic positioning; but it also works toward a corporate strategy and allows for companies to be innovative and thrive in their industries. A company with a marketing business plan considers the key stakeholders, communication channels, the business environment and, core corporate competencies. Using the company brand is a leverage to be used to its full potential. Marketing can assist in developing new consumer channels, products or services that can grow the company or organization and make a sustainable difference in industry trends. The marketing business strategy should include ideas on obtaining new clients, retaining current clients or customers, brand management and tactical to promote sales of the company’s products and services. As a business tool or foundation, marketing uses strategic tactics designed to identify the appropriate market and time for implementation and will impact the organization success of a company. Verizon Communications is a favorite in the telecommunication industry and one of the most powerful national companies in the specialty. Verizon uses new technology recently developed and follows through by introducing the advances to a competing industry. Through research and marketing, Verizon has found what telecommunication technology works and has become very proud of starting a major transformation in the wireless world. As an innovator, Verizon is a industry leader in providing information technology and advanced communications to customers. Through a partnership with major computer companies, Hewlett Packard and Dell Computers, Verizon can produce technological products that are of high quality. The use of these practices helps the Verizon organizational structure through strategic business goals including employee development, diversity awareness, and recruitment. (Verizon, 2010)Another company that has demonstrated consistently to employees and stakeholders, honest and fair business practices resulting in significant organizational success is Dole Food Company. The Dole name is one often associated with high quality and nutrition for fresh cut flowers, vegetables and, fruit. Dole also markets a line of packaged and frozen foods and serves as a leader in the industry for nutrition education and research. (Murdock, 2008) Dole Foods underwent a two-year research and redevelopment program for the Dole Fresh Vegetable product line. (Dole, 2008)Dole’s willingness to share knowledge publicly, invest in new technology, fight food born disease, are all public benefits derived from their ethical leadership. Dole’s financial stewardship and social responsibility underscores the fact that the company is both ethical and profitable. In business, there is more to being successful and achieving organizational success than having products or services at reasonable prices. Many companies underuse marketing as one of their business functions. Alternatively there are many companies that have been successful because of the effective use of strategic marketing such as Microsoft, Sony, American Express, Disney and Wal-Mart,just to name a few.

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