Defining Marketing

My personal opinion of marketing is the research of wants and needs of consumers and a plan to produce a product with a price affordable for the consumers. Marketing incorporates the design, quality, price, promotion and distribution of a product. These factors are the important outcome of a particular product.
            "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 (Boone & Kurtz, 1998)."
              The American Marketing Association defines marketing, as “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (AMA, 2004).”
          Marketing plays a vital role in the success of an organization. Without knowing the needs and requirements of consumers, it is likely that the organization may suffer loss. Marketing is the concept that gives a clear picture of what the customer demands. Marketing aims to analyze the organization’s competitors and to improve the product from the competitors.
Marketing teams present a product that grabs the attention of its consumers. Marketing does not merely mean advertising but advertising is an inseparable part of marketing.   For instance, if an organization carried out a marketing plan effectively except for advertising and failed to catch the attention of consumers, the plan will fail. Similarly, if the marketing plan is carried out effectively and people are, demanding for the product but due to poor distribution the product is unavailable for most of the consumers; all efforts would end up unproductively. The proper marketing plans an important way to achieve organizational goals and success. Market research is like a scientist who seeks to...