Mkt 471 Week 1

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What is Marketing? By Brian Batac MKT 471 Here are other experts’ definitions on Marketing: The management process responsible for identifying, anticipating and satisfying customer requirements profitably. - by Chartered Institute of Marketing Marketing is the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals." - by American Marketing Association Marketing is a set of activities, which will satisfy the objectives of both the organizations and its stakeholders including the customer. “Marketing is everything.” -by Regis McKenna My personal definition is what I have found by…show more content…
In 2002 wal-mart had $219 billion in sales and $6.6 billion in net income, over 1 million employees in the United states and 1.4 million employees worldwide. The top factors that make Wal-Mart the best is the degree of customer intimacy, community building, and one-to-one marketing. Everyone should know that Wal-Mart has given that community feel through its brick and mortar stores and its superior customer service that makes the customer feel that intimacy with the company. Another big thing that Wal-Mart has over all others in the same field is a second area of major investment was in distribution technology. Wal-Mart established a network of innovative hubs which used “cross-docking” to minimize distribution center inventory and to facilitate the need-based inventory delivery system enabled by the satellite network. Basically it connected all Wal-Mart’s to one network and for example, when a product is purchased, that purchased is sent to a database where it automatically orders more for the next shipment. So the inventory control is automated and that’s why Wal-Mart can advertise we have all that you need all the…show more content…
One of the greatest attributes of McDonald's is its "everyday affordability" message that drives customers to McDonald's restaurants. Through marketing McDonalds has the best customer base of all companies, ranging from 3 years old all the way up to the senior citizen with a discount. Everyone knows the slogan “Mickey D’s” you can't possibly drive by a 'golden arches' without having to stop. With the backup of sponsorship’s and integrated campaigns like the Olympics, movies, foundations and the infamous “I’m Lovin’ it” ads are all marketing tactics to better the business. By combining fundamentally sound operational practices with innovative marketing strategies, Ray Kroc (McDonald's originator) laid the foundation for McDonald's global success. Today, McDonald's values transcend borders and cultures. Each and every day, 47 million consumers worldwide visit McDonald's because they know and love the Golden Arches, Ronald McDonald and Big Mac sandwiches. In conclusion as stated before marketing is the foundation of all business and a business cannot flourish without marketing. Marketing is everywhere, it’s just we don’t recognize it because it’s been the social norm, but it’s there in plain sight. Marketing is around us when we walk around in the city (billboards) watching t.v. (commercials) your cellphone even (the brand on the phone). These three big companies used marketing to its full extent to fully

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