Defining Marketing and Its Value

MARKETING
Answer the following questions in long answers based on the notes given and for all external information / sources, you have to reference it in APA6th format.
You do not need to reference the information from the notes just those from external sources.
The word count for each question is noted beside every question.
Q1. What is marketing? (145 words)
Marketing is the process of promoting one’s product or service in order to increase awareness, following, or even conversion from clients (or potential clients). This includes market research to determine where the demand is for a product and how to leverage the different kinds of mediums and techniques to maximize the potential reach and revenues generated from the same. Finally, marketing can also exist in different forms and mediums. It may be through a simple act of talking about your product to others or through a more complicated and costly method of preparing a widescale event.
Q2: What is the value marketing brings to you as a customer and as a potential business or political leader? (450words)
The value that marketing brings to a customer like me is an increased awareness about my choices. Since marketing allows individuals, who would otherwise not have known about your product to know about them through any advertisement, it also diversifies their choices about the various products and their strengths and witnesses. For example, if a consumer only knows about the milk being brought to his house every morning, he cannot make an intelligent choice to shift to another if he is not aware that there are better choices. He will continue to stick with the product he is familiar with since he believes there are no better alternatives. Accordingly, marketing helps him since he becomes knowledgeable about other milk products that are more healthy, nutritious, and affordable than his previous one.
On the other hand, marketing can also deliver value to businesses and political leaders. As stated above, marketing is essential in order to increase awareness about one’s product. Similarly, both businesses and political leaders need to maintain strong social support to succeed since their profitability and electability depend on how the public perceives them. For example, a business seen by others to have a bad service would affect their capacity to generate sales even though they have already improved their customer service processes. This also goes the same for a political leader who tarnishes his reputation due to a smear campaign. In other words, the use of marketing is essential for both business and political purposes since it delivers a tremendous amount of value in this very competitive marketplace. All in all, it could be seen that when businesses and political leaders utilize marketing to establish their soc...