Defining Marketing

1022 Words5 Pages
To fully understand the importance of marketing and organizational success one must understand what marketing is. Marketing and marketing decisions are the key to an organizations success. Without the marketing process and marketing strategies an organization is sure to fail. To me marketing is the communication of products to a specific target market, and marketing plans are based on the four P’s of the marketing mix: product, place, promotion, and price (Perreault, Cannon, & McCarthy, 2011, p. 35). According to the American Marketing Association, “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and…show more content…
This is the organizations way to promote their goods and services. The last “P,” price, is when the organization must determine the right price for their goods or services. The organization must consider the competition in the area and the cost of the marketing mix. In the marketing mix the P’s are equally important, and they come together to form a complete circle. “Part of Starbucks’ success comes from adapting its marketing strategy to changing market conditions” (Perreault, Cannon, & McCarthy, 2011, p. 3). The economy today challenges companies in today’s society. For an organization to do well, they have to maintain their marketing strategies and plans to change when the market conditions change. Customer service levels dropped so the customers were not getting the experiences that they expected. It was not until Starbucks’ gained more employees and the level of customer service improved that the business began to rise again. Another example is Cirque du Soleil. “Cirque du Soleil’s marketing managers constantly evaluate new opportunities” (Perreault, Cannon, & McCarthy, 2011, p. 31). Cirque du Soleil focuses on developing new shows and the opportunities of expanding their organization in other target markets. Cirque du Soleil is a very successful organization, but they are continually exploring their opportunities to make their customers’ experiences better. The last

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