Define_Marketing

In the business world today marketing is a tool for a business to succeed in the retail market. Different people see marketing differently depending on their perspectives. Buying and reselling product is not the only steps that make up a good marketing plan. Marketing includes buying the right product and bringing consumers into the store to buy the product and getting the consumer to keep shopping at the store. The one common thing to all marketing definitions is that it leads to an exchange between the consumer and the seller. Marketing is used to sell almost every product in our culture today. A consumer would not know about the latest movie, car, food product or clothing without marketing. My personal definition of marketing is a business's methods of getting the consumer in the store to buy the product they are selling. There are as many different types of methods as there are businesses. These include print media such as flyers, newspapers and mailings, radio advertising, television commercials, billboards, and in person to include trade shows and telemarketing. All of these may prove effective and any combination can be used by the company to reach consumers. Meijer's grocery store uses several types of advertising. The company has weekly ads in the local newspaper to let the consumer know what is on sale that week but they also use television advertising to generally the store. Both of these types of advertising is successful in keeping the name of the store in consumer's minds and to let the consumer know about the lower prices of their products versus other stores in the area. Another marketing definition is the developing of a product and positioning that product for the consumer in a way that the consumer will find and buy the product (Scott, 2004). This definition allows that marketing defines the product that a consumer would want to buy. Only after research has determined that a product would be bought by the customers would the product be developed. Fast food restaurants use this type of marketing. New products and pricing are ways the fast food industry competes with each other. Marketing is responsible for creating the new products that a fast food restaurant needs to stay competitive. McDonald's created the Happy Meal for children this way and continues to improve the marketing for this product. The marketing department researched families to determine that children would want a meal with a toy designed especially for children 2 - 10 years old. The marketing department researches to determine that the children want the latest branded toy and will tell their parents that they want to go to McDonald's instead Burger King because of the toy. Marketing is the process of planning and implementing the concepts, promotion, distribution and pricing of any ideas, goods or services in an exchange that satisfies the individual and organization's goals (Kotler, 2001). This definition of marketing focuses more on the satisfaction of the customer's needs and also considers the public relations, advertising and promotions. Customer satisfaction is the focus of this type of marketing and how that satisfaction relates to the business. This marketing process unites the four P's as well as other factors into a single plan to complete the goals of the company. These goals are to keep the old customer while gaining new customers and increasing the profitability. Marketing is an important part of a business's success. Marketing will help the business to achieve their goals in a cost effective way. If marketing is used in the proper way it will decrease costs and increase revenue for any business. Marketing allows the business to achieve their goals while increasing customer satisfaction. When the business has satisfied customers they will return and remain loyal to that business. This loyalty allows the company to meet or exceed the growth projections and increase profitability. Marketing is not only about buying the right product and reselling the product to the customer but marketing is about keeping the customer satisfied. Anything that the staff can do to make the buying experience more pleasurable to the customer increases the revenue and success of the store. A successful company is aware of marketing strategies, targeting the right market and the financial return that will increase the company's long success. References Kotler, P. (2001). Marketing Management, Millennium ed. Upper Saddle River, NJ: Pearson. Scott D. M. (2004, April). Buying and Selling. But what about marketing' Econtent, 27(4) 48. retrieved June 18,2011 Perreault, W. D., Cannon, J. P., & McCarthy, E. J. Jr. (2009). Basic marketing: A marketing strategy planning (17th ed.). New York, NY: McGraw Hill.