Marketing, the gerund of the noun referring to the marketplace, may be the factor most responsible for business success. Not confined to advertising and promotions, marketing entails an entire system of methods, techniques, and practices that help individuals or organization reach their goals. Because politicians and non-profit organizations engage in some form of marketing and promotion, marketing does not necessarily have to lead to financial profits or sales. However, boosting sales remains one of the most common goals of a marketing campaign and the definition of marketing may be distilled to simply "selling."
             According to the American Marketing Association's Dictionary of Marketing Terms, any "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" falls under the general rubric of marketing. In other words, marketing may entail the creation of wholly new market segments, in order to stimulate growth and would rely on investments in product innovation, research, and development as essential components of a firm's overall marketing plan.
             Communication will always be a hallmark of marketing: a newspaper company can either hire a boy to shout "Extra! Extra! Read all about it!" or a telemarketer to phone potential customers at home but either way the firm communicates the value of its product or service to potential or existing customers.
             Delivering value to customers may mean more effective customer service. To "manage customer relationships in ways that benefit the organization and its stakeholders once again draws attention to the role of marketing in furthering the goals of the firm. Without marketing, a firm would flounder.
             Yet not all marketing plans are created equal. Some of the world's most successful corporations ha...