Define Marketing Paper - Essay Example

Define Marketing Paper Marketing is not a new concept existing from the Primitive stage when the first primitive used the exchange process. Today, this concept becomes more complicated reflecting economic development of our society. For instance, The Institute of Marketing defines marketing as: "the creative management function which promotes trade and employment by assessing consumer needs and initiating research and development to meet them. It co-ordinates the resources of production and distribution of the goods and services; determines the nature of the total effort required to sell profitably the maximum production to the ultimate user" (cited Appleby, 1994, p.262). Another definition is proposed by Bennet (1995): "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives." (p.166).

Taken into account these definitions, it is possible to say that marketing is a matching process between the needs and expectations of customers, and the ability and capacity of the organizations to satisfy these needs. Also, the aim of the company is to create high quality products to meet the needs of the customers and attract new clients. Marketing is important to organizational success because it involves sales, purchases, exchange of goods, services and information about these goods. Marketing is supported by such activities as advertising, the publishing of a wide range of information, scheduling, distribution, payment, and service.

Also, marketing can be described as the activity that involves product design, manufacturing, and transportation. Without marketing, an organization will not be able properly plan its activities in order to reach a common goal. Marketing helps to coordinate work of "production, research and financial activities" (Appleby, 1994, p.262). The recent activities of Tesco PLC (the biggest UK food retailer) is the best example of successful marketing. In a short period of time, this company was able to replace its main competitor Sainsbery, and create a strong market position using marketing campaigns.

Its main marketing objectives are based on maintaining a reputation for innovation, making shopping easy and interesting, and continue to grow (Owen, 2003) which helped the retailer to become number one in the UK. This creates an opportunity for marketing. Tesco pursues strategies of product adaptation recognizing opportunities to serve its customers. Another example of a "great" marketing success is IBM corporation which sales increase every year. Today, IBM is a leader in IT industry with S$96 billion revenue a year.

Customers and technology are the primary driving factors in this arena. Customers want products that satisfy their needs or improve their productivity, and IBM looks for ways to deliver these benefits at a lower cost, smaller size, and higher speed. For IBM, its decisions at every stage, from idea conception to support after the sale, is developed in terms of their ability to create value for customers. In marketing terms, IBM makes an emphasis on the effective coordination of its activities in all functional areas such as HR, research and finance (www.ibm.com/us/).

Another "classical example" example of successful marketing is McDonald's fast food restaurants chain which organized successful marketing campaigns around the world, and now operates 30,000 restaurants in 121 countries. McDonald's has designed a restaurant system that can be set up anywhere in the world. McDonald's marketing is based on products' customization, namely, McDonald's offers menu in accordance with local eating customs. This has speeded up design processes, transformed working practices and increased the efficiency of production and helps to maintain fault diagnosis.

New shipment and transport technology, as the part of marketing process, have revolutionized its business (Brook, 2003). It is possible to conclude that effective marketing plays a crucial role in organizational success and depends upon marketing system employed by a company. Success of every company is closely connected with its management team and marketing planning. References1. Appleby, R.C., (1994). Business Administration. BSc Econ (London), ACIS. 6th edn. Pitman Publishing, 2. Bennett, P. D. ed., (1995). Dictionary of Marketing Terms, 2d ed.. Chicago: NTC Business Books. 3. Brook, O. (2003). McDonald's Celebrates the Monopoly Best Chance Game at McDonald's.

Available at: www.media.mcdonalds.com/secured/news/pressreleases/2003/Press_Release10132003.html4. IBM. www.ibm.com/us/5. Owen, G. Corporate Strategy in UK food retailing. (2003). Available at: cep.lse.ac.uk/seminarpapers/ 24-05-04%20-%20Background%20paper%20by%20Geoffrey%20Owen.pdf