Defining Marketing
MKT/421

Defining Marketing
Since a long time marketing has been an important part of businesses. Anyone can search through the many hundreds of books written on the subject to try to locate the definition. Today, we could just search the internet to see how it is defined. Marketing is defined in many different ways. Some definitions will focus more on what marketing means to an organization. Though there are many different ways to define marketing, the definition should have one focus. This should be that marketing success equals consumers. In order for us to understand marketing better, it is important that we understand I’s meaning. Individuals can see marketing in many different ways. This makes it very easy to forget specific vital purposes. Marketing is not only referred to purchasing or retailing.
On a personal note, the definition for marketing is that it is heart of any organization. Marketing’s responsibility is to lodge the consumer requirements by modifying services or goods. Examples of the adjustments are a custom product, a distinct amenity, costs or times. One good example is taking place right now at Bank of America. The marketing department is responsible for identifying the needs of the customers to increase the customer base. In return increase customer base and net profits for products and services rendered from the bank. One of the issues that were addressed by the marketing department that do satisfy the needs of the customers is: providing excellent customer service. Bank of America has been in the media and has had to reach settlements due to the acquisition of Countrywide Home Loans. It has lost most of the confidence many consumers had in it. Many people blame the bank for what happened. Knowingly, Bank of America was not at fault. The bank changed the way they do business and in doing so incorporated its core values into their employees. Educating the employees and marketing to them the commitments the company has not only to the consumers but to the employees. Helps the employees understand what they are expected to provide their customers as well. As long as, the added service area offers customers additional assurance to do business with the bank. By means of the marketing department and the way that the bank has incorporated its policies and procedures it has assisted in the increase of consumer movement. Bank of America has reached several of the companies’ definite corporate objectives, precisely, with increased effectiveness in the goals the company has for business growth.
Marketing can also entail the presentation of a new product or service. The way marketing is the positions and