Marketing can be understood as a process of putting tools for communicating about the value of any products or services available to the potential customers, for the main purpose of selling these products or services. Marketing as a component in business is therefore critical for attracting customers. Business and management authors have put forward some definitions of marketing. According to investors.about.com, marketing is a set activities with strategies, which result in making the products get noticed and also satisfy the potential customers and at the same time making profits for the producing companies for these products. According to this website, these activities include among others designing the products so they are visible to the potential customers using tools like research and pricing.
These activities, promote so that more and more people know about them through tools like public relations, marketing communications as well as vigorous advertising. The activities also take into account setting up the price and also making sure the potential customers know about the same. Marketing is also known to be the process of management by which the goods and services of a company move from the concept to the point of reaching the customer. According to businessdictionary.com, this includes coordinating some four elements called the four P,s of marketing, namely, identifying, selecting, and developing the product, determination of the price of the product and t selecting the channel of distribution so that the product to reaches the place of the customer and finally developing and implementing a strategy for product promotion.
Importance to Organizational Success. Marketing also concerns strategies and all other tactics with the objective to identify and cultivate a market for the said products and services. This therefore makes the aspect of marketing very important for any success of an organization or business, the only way marketing and the progressive growth of an organization is enhanced. It is also argued that the degree of importance of marketing has basis on the industry, the reason a given business can prosper without specifically following the marketing and organizational principals. A case in point is the informal business sector in many inefficient markets in some business sectors and locations around the world. However, according to hubpages.com, most businesses today around the world credit their success and growth on the importance of sound marketing principles.
Businesses whether large corporations or small enterprising businesses, non–profit or large industrialized multinational companies thrive on the sound marketing tools and strategies they have employed. Small businesses can be found on the internet and website advertisements whereas the non–profit organizations like the Red Cross and the World Vision also market and advertise themselves through many activities and the help they offer in disaster areas and helping the impoverished respectively. Meanwhile, large companies like Coca Cola, Apple, Nokia have sound marketing and advertising departments, the reason they are known all over the world. The success of these companies can therefore be attributed to marketing they have done to be known all over the globe. Therefore, as a component besides financial, operational, accounting as principles of business and organizational management contribute well for the success of an organization Marketing is core for business and organizational prosperity (Perreault, 2004). This involves strategies of getting new clients, branding the products and influencing the behaviors of the customers who have been attracted to the product. A marketer performs all these activities with the sole aim of improving the sales of the business, which is the heart beat of an organization that profits in provision of goods and services. Several papers and articles show that marketing is the heart beat of any business success. Most aspects of business, it is argued depend on sound and astute marketing. The aspects covered within these parameters include advertising, promotions, public relations, and sales.
These aspects rely on one another and the reason a company is organized to have department’s specific for these functions. Because marketing is the process by which the products and services reach the potential customers and also keeping the attained customers, all the departments in an organization therefore depend on the success of marketing (Lorrette Kristie). It is noted that a business may be offering the products in the industry at competitive prices but without marketing, these products shall not be known by any potential customers and therefore there shall not any revenue generated for the business because the business shall not be making any sales. Sound and competitive marking is therefore sound and paramount for any success of the business organization. In business organization and company structure, several departments are put in place to run the affairs of the same business. These departments are known to be interdependent and have a chain of relationship.
Marketing has responsibility of relating with the outside world by teaching the potential customers about the availability and the usefulness of the products as produced by the company. This leads to the increase of sales of the company as result of people buying the products, with the knowledge about they acquire through marketing propaganda. Other management departments therefore survive as a result of the sales made, and this makes the business grow as direct result as employee satisfaction. The failure of marketing can therefore lead to crash of company sales and correspondingly the company or business may close.
References
investors.about.com/od/fundinglicensingmarketing/f/marketing.htmlLorrette Kristie. Marketing. Smallbusiness.chron.com/importance-marketing-success-business- 589.htmlwww.businessdictionary.com/definition/marketing.htmlwww.hubpages.com/hub/importance-of-importance-of-marketing.
