Explain The Marketing Function
In the following weeks, the focus shifts to the marketing function and developing a marketing strategy. In today’s business world, the role of marketing in a company is too critical to be ignored. It’s very common that many local businesses or global businesses are competing for the same market. As a result, a company’s survival is dependent upon their marketing efforts among other functions within its business. Many people think marketing is the same as advertising. Although advertising is an element of marketing, it is just one element.
There are more than a few definitions of marketing. Many people consider marketing to be selling and advertising. And marketing is often thought of as a department. But it should be thought of as an important business function. Marketing is based on thinking about the business in terms of customers’ needs and satisfaction.
The American Marketing Association 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.” Hunt and Mello (2015) define marketing as “an organizational function and set of processes for creating, communicating and delivering value to customers and managing customer relationships in ways that benefit the organization and its employees, customers, investors and society as a whole” (p. 4). Marketing is often viewed as the 4Ps: product, price, promotion, and place; it can also be viewed as the 4Cs: customer solution, the cost to the customer, communication, and convenience; or viewed as the 4As: acceptability, affordability, awareness, and accessibility.
This week, you will explore the various definition of marketing to develop a clear understanding of this critical business function.
In this assignment, develop a PowerPoint presentation to explain the marketing function to new employees within your organization.
Incorporate appropriate animations, transitions, and graphics as well as speaker notes for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists.
In addition to the required readings support your presentation with at least five additional scholarly/peer-reviewed resources. In addition to these specified resources, other appropriate scholarly resources may be included.
Length: 10-12 slides (not including the title and separate reference slide)
Notes Length: 150-200 words for each slide
Be sure to include citations for quotations and paraphrases with references in APA format and style.
Save the file as .ppt (or .pptx) with the correct course code information.
Your presentation should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.
Related references need to be hanging indentations. See your APA Manual.
Need to have speaker notes at the bottom of the slides in order to provide more information.
Also need to have citations for all key elements in the content.
Video Education America (VEA) (Producer). (2009). The four P’s: Marketing strategies [Video file]. Films on Demand.