Defining Marketing Paper - 1010 Words

Running head: DEFINING MARKETING PAPER Defining Marketing Paper Bonnie Garcia University of Phoenix Marketing is an important part of the business organization; it is more than just promoting and selling a product. Marketing is gratifying the changing needs of the customer. This can be best summed up by the very successful businessman Bill Gates when he quoted, Your most unhappy customers are your greatest source of learning . The purpose of this paper is to define marketing from at least two different sources; based on these definitions I will explain the importance of marketing in organizational success. Also, I will offer three examples from the business world of the importance of marketing to the†¦show more content†¦In some instances, he must also consider legal restrictions effecting prices Typically speaking, the responsibilities for a marketing department are primarily: marketing services, objective filtering, planning, product/market development (including establishing price and controlling product gross margin), research, product training, and advertising. A marketing department s overall function is to prepare a product/service for the sales department s implementation responsibility. As an example, consider a military campaign where one team defines the strategy and another team executes it. To function at peak performance, sales and marketing must work in a similar fashion where marketing sets the strategy, and sales determines the field tactics and best approach. Marketing develops the weapons (e.g. the messages, sales tools, competitive intelligence). Sales learns to use them effectively in each unique customer environment to win the battle. In conclusion, it is common for entrepreneurs to incorrectly believe that marketing is not important at the early stage of a company s development. Many view marketing as something to be done later when they are ready to build a brand. Successful companies have spent time and resources to carefully craft their unique value proposition and build a foundation of sales toolsShow MoreRelatedDefining Marketing Paper1008 Words   |  5 PagesMarketing Paper Marketing an important part of the business organization, it is more than promoting and selling a product. Marketing is satisfying the changing needs of the customer. The very successful businessman Bill Gates can best sum this up when he said, Your most unhappy customers are your greatest source of learning . 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