MGT 317 FGCU Marketing Definition and Importance Discussion Replies

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Post 1;August 26, 2023

           The term marketing, to me, can be defined as the process of conducting surveys, research, and formatting an analysis on the expected consumer group of a product or service to promote said product or service efficiently. In many ways, the term marketing can be correlated to various forms of promotion and advertisement. To put it into simple terms, the research conducted on a product’s consumer group before it even goes into production is what I would define as marketing. This research helps to provide the data used in order to brainstorm the best tactics for advertising.

           Upon my research, I found marketing is known as the process of generating, delivering, trading, and conveying offerings that are valuable to customers, clients, partners, and society at large. It involves first comprehending the needs and desires of the consumer and then developing and delivering goods and services to fulfill those needs. Pricing, promotion, and distribution are further actions included in marketing. Meeting consumer needs and demands is the process of marketing. Marketing aims to attract people to buy your goods and services by making them want what you have to offer (1998). I also found a widely used model in the business industry: the four Ps, which stand for product, promotion, price, and place (2013). Thus, confirming that marketing not only involves the advertisement or promotion of a product but also the understanding of how a consumer thinks. For a product or service to perform well, a good place to start for the marketing strategy is to use the four P’s as a checklist and expand from there.

References

Films Media Group. (1998). What is marketing? Films On Demand. https://fod.infobase.com/PortalPlaylists.aspx?wID=95547&xtid=10138.

 Lee. (2013). What is Marketing? Public Services Quarterly, 9(2), 169–171. https://doi.org/10.1080/15228959.2013.785900

Post 2          To me, marketing means to advertise your product to the public or your targeted audience. It means to show what you are selling or providing, to raise the consumption of that product or service. Marketing is needed to grow a customer base and to grow connections. It is the way that companies find new customers and show new products to old customers.

Marketing can be selling or purchasing a product in a market. (varadarajan, 2010) It is thought to be just advertising but it’s much more than that. There are different kinds of marketing used for different purposes and situations. The main purpose of marketing is to help the business look as good as possible. (Gladka,2019) It is important to find your specific target and find out the best strategy to sell to them. No matter what kind of marketing you are doing you will want to follow a process or strategy.