Mkt 421 Week 1 Assignment Essay examples

797 WordsApr 29, 20124 Pages
Defining Marketing MKT/421 April 30, 2012 Defining Marketing As a personal definition, marketing is a strategy to promote consumer awareness and positive feelings towards a brand or product in order to encourage the consumer to purchase or use that product. In more specific terms, the American Marketing Association (2012) defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.” A simpler definition of marketing, as identified by the U.S. Small Business Administration (2012), are the activities and strategies that result in making products available that satisfy customers while making…show more content…
Prior to this marketing campaign, diamonds were not often used for the purpose of engagement rings. The “A Diamond is Forever” ads made consumers think differently about the product by associating the gift of a diamond with romance and eternal love. Today, it is tradition for a man to present the woman he plans to marry with a diamond engagement ring. Touted as one of the best advertising campaigns of the twentieth century by Advertising Age magazine (1999), The De Beers Diamond Company continues to use the ads to convey their message that diamonds are timeless, valuable, and romantic. State Farm’s Marketing Ranked number one in insurance providers, State Farm Insurance has been using their current marketing strategy “Like a good neighbor, State Farm is there” for more than 40 years. This marketing strategy reinforces State Farm’s image as being a neighborhood company with neighborly agents. Current president, Edward B. Rust, Jr. defined being a good neighbor as “someone to be trusted; a courteous, friendly source of help when help is needed; someone you can count on; someone who cares” (State Farm, 2012). This traditional marketing strategy of good service resonates especially with the older generation who are willing to pay a premium for good service. Conclusion Overall, the measure of a good marketing strategy is not only the return on investment but also whether the campaign

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