Running head: DEFINE MARKETING

Define Marketing Tahitia G. Brown

MKT/421

May 1, 2012 Audrey Ellison

DEFINE MARKETING Define Marketing According to Merriam - Webster (2012), marketing is the act or process of selling a product in a market. Based on Merriam Websters definition one can infer that marketing deals with persuading the masses to purchase a specific brand of an item. Another view of marketing is making the public aware of an organization to boost sales and profits. Another

definition of marketing, according to Perrault, Cannon, and McCarthy (2011), is the execution of activities that strive to realize a companys goals by foreseeing patron or consumer desires and leading a course of essential fulfilling goods and services from producer to customer or client. Importance of Marketing in Organizational Success Marketing is vital to the success of any organization. A company of any size must invest in marketing of some sort. For a firm to prosper, the product or service it affords should be recognizable to potential buyers. Without the organization being known in the public and ensuring contact with your consumer is readily available, one must use marketing strategies to generate product or service consciousness. With no marketing strategy, the prospective clientele might possibly never be made aware of ones business offerings and business may perhaps never be given the prospect to improve and thrive. The use of marketing to endorse a product, service and company provides a firm with the possibility of discovery by potential patrons. Examples in Support of the Use of Marketing Wal-Mart Stores, Inc. (Wal-Mart) controls retail stores in countless structures globally. They arrange the business into three divisions: Wal-Mart Stores, SAM'S CLUB and International. One of the many factors to the success of Wal-Mart is the quality of the consumer confidence, community building, and one-on-one marketing. For example they invested in a satellite system connecting all stores was initially installed in 1983, and grew into a complex

DEFINE MARKETING communication network that included all stores, headquarters, and distribution centers, as well suppliers. This system facilitated a modified just-in-time process of inventory control, a feat virtually unheard of in general merchandise retailing, thus enabling connectivity to facilitate rapid response to inventory needs, and dramatically reducing the amount of inventory needed. Additionally Wal-Mart established a network of innovative hubs which used "crossdocking" to minimize distribution center inventory and to facilitate the need-based inventory delivery system enabled by the satellite network. In this model, as shipments arrive at the warehouse, merchandise is moved directly to the trucks carrying the outbound shipments to specific stores. In many cases, the same trucks can even be used for inbound and outbound shipments, including those carrying new merchandise to stores and those carrying returned, outdated, or unneeded merchandise from stores, thus minimizing round-trip shipping costs. Those innovations aided Wal-Mart in providing better customer service at less cost. Curves fitness centers have been successful in building an enduring relationship with their customers - women that want a fast, regular workout. Inquiries for Curves showed many women to have minimal fitness needs. Recognizing such, Curves fashioned smaller fitness centers which were appropriately placed in opportune strip malls. Smaller sizes and lower costs meant Curves were able to establish centers in small towns where larger fitness clubs could not

endure. Research also indicated many women favored men not exercising around when they did. Instead, they enjoyed amity of working out with other women. Curves enhances the experience by positioning gear in a circle. Their fees attract consumers as Curves fee less than $50 per month. The overall approach seems to work well for its clientele, and provides superior customer value, Curves has grown to more than 10,000 fitness centers in 60 countries (Perreault, Cannon, & McCarthy, p. 20 - 21, 2011).

DEFINE MARKETING Conclusion Marketing seems to encompass everything needed for the success of any organization, not just advertising. Understanding its purpose and different methods can make or break a company.

DEFINE MARKETING References Marketing. (2012). In Merriam - Webster. Retrieved from http://www.merriamwebster.com/dictionary/marketing

Perreault, W.D., Cannon, J.P., & McCarthy, E.J. (2011). Basic Marketing. A Marketing Strategy Planning Approach (18th ed.). Retrieved from The University of Phoenix eBook Collection database.