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What is marketing? Merriam-Webster defines marketing as the act or process of selling or purchasing in a market. (Merriam-Webster, 2007) The American Market Association define marketing as an organizational function and a set of process for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization. (American Marketing Association, 2006) Why is marketing an important factor in order for a business to be successful? Marketing plays a vital role in the success of an organization as well as in economic growth and development. (Perrault & McCarthy, 2004) In my personal opinion, marketing is understanding a customer needs (both current and potential) and creating a product that provides value. Customers form expectations about the value of products and services that are offered. (Armstrong & Kotler, 2005) There are many definitions for marketing, but the main focus point in all is the consumer and......

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Approximate Word Count: 1075
Approximate Pages: 5 (250 words per double-spaced page)

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