Defining Marketing - 981 Words

Defining Marketing What is marketing? More important, what importance does marketing have on an organization s success? In this paper, marketing will be defined. Included will be my personal definition of marketing, the definition found in Marketing Management, and the definition found in Basic Marketing. Based on these definitions, I will explain the importance of marketing in organizational success. Definition of Marketing There are several definitions of marketing. Although many sources define marketing differently, each definition has the same meaning. The following will describe my personal definition of marketing, followed by the definitions of marketing in Basic Marketing and Marketing Management. Personal Definition†¦show more content†¦Wachovia As a result of Wachovia s marketing strategies, Wachovia has been ranked number one in customer service for the past five years among banking peers. According to the Wachovia 2005 Annual Report, driving our growth is an uncommon partnership of banking and brokerage businesses that leverage the collective wisdom of our skilled relationship managers and finical advisors to bridge a lifetime of customer needs (Wachovia, 2006). Rolex Rolex is another organization that has found success from good marketing. Rolex watches are products that sell themselves. As quoted in Rolex Watches Ââ€" A Brief History, the founder of Rolex wasn t content merely to invent the first wristwatch. He wanted to invent the first truly accurate wristwatch, one that you could actually run your life by (Brittons Watches, 2007). Because of good marketing, Rolex is considered to be one of the most prestigious watches in the world. No matter how one defines the word, an organization s success relies on marketing. Each of the three examples provided in this paper prove that marketing created organization success for each of the organizations. According to Basic Marketing, if the whole marketing job has been done well, customers don t need much persuading. They should be ready to buy. And after they do buy, they ll be satisfied and ready to buy the same way again the next time (Perreault andShow MoreRelatedDefining Marketing805 Words   |  4 PagesDefining Marketing Colleen P. Dalton MKT/421 November 26, 2012 Stephanie Burns Defining Marketing The purpose of this paper is to define the term â€Å"marketing†, explain the importance of marketing in organizational success, and provide examples from the business world to support the explanation of its importance. Upon completion of this paper it should be understood what Marketing means and its importance in today’s society. 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