Defining Marketing Essay

998 words - 4 pages

Defining Marketing
Marketing is the process or act of selling, promoting, or distributing products or services.  Another definition of marketing would be where the producer moves goods and services to the customer. Marketing can also be defined as satisfying the benefiting both parties through the exchange of goods and services. The producer sells, promotes, and distributes the product and the customer purchases the product. In Chapter 1 of Basic Marketing, Perreault, Cannon & McCarthy defines marketing as “the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of needsatisfying goods and ...view middle of the document...

Through the years the three companies created new marketing techniques, introduced new products and opened new locations throughout the world. McDonald’s was established in 1940 by two brothers who opened a drive-in in California which offered many food items and a car hop service. In the late 1940s the restaurant was closed for renovation and the menu decreased, and the famous French fries was added. A salesman visited the restaurant trying to sell products to the company, and discovered that the brothers were looking to start a franchise. The salesman opened up his first restaurant in 1955 in Illinois. The company and the salesman both ended up being successful in the history of McDonald’s. During McDonald’s 55 years in business, the company has more than 33,000 restaurants in 119 countries. The company used the product, price, place, and promotion to become successful. McDonald’s continued to introduce new products and become socially responsible to the customers. Jim Skinner, CEO of McDonald’s Corporation states, “McDonald’s strives to make a difference by taking action in five key areas: nutrition and well-being, sustainable supply chain, environmental responsibility, employee experience and community” (2012, McDonald’s).
WalMart opened the first store in 1962 in Arkansas. Ten years later, Walmart offered stock on the New York Stock Exchange, and the capital gained from the stock Walmart was able to open almost 300 stores in eleven states. Walmart continued to market the business, offer new products and open new stores. In 1983, the first Sam’s Club warehouse opened. “By 1989, there were 1,402 Walmart stores and 123 Sam’s Club locations. Employment had increased tenfold. Sales had grown from $1 billion in 1980, to $26 billion” (Walmart, 2012). Today, Walmart has 9884 stores and Sam’s Club locations in 28 countries and have 2.1 million employees. Walmart is one of the most successful retails worldwide, and serve more than 176 million customers each year. Walmart has been successful because management researched and determined what the customer wanted and satisfied the customer by providing those services and products.
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