Mkt 100

In: Business and Management

Submitted By Rap201
Words 1371
Pages 6
Marketing

Seth Kanowitz

BUS 100

August 14, 2007

Businesses today are very competitive and have to be more profitable. The companies can no longer count on just producing a good product. They must have an edge to differentiate them self from the competition. They must know there customers and be able to forecast there future wants and needs. We live in the electronic age and have global access to more choices. Business must stay informed, and interact with the customers on many different levels. One of the ways to engage the customer is through marketing. We can customize any product and target a specific demographic for revenue. The companies will use the different components of the marketing mix to influence customers and gain more market shares. The companies that understand the marking mix will have more customer and greater profits. They are driven by five forces that constitute the external market environment. These forces influence both business and customers in different capacity. Marketing is define as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives (Griffin and Ebert p.270). Marketing is important in today’s economy to operate a successful business. The customers are more sophisticated and brand specific. We want them to have an emotional attachment toward our product. My organizations goal is to enhance profitability, and improve our corporate image. Our objective is to grow the customer base with knowledgeable people and provide excellent customer service. We have numerous corporations that will spend billions to create memorable marking campaign. Toys “R” Us for example will advertise at a specific time slot to target children. Wal-Mart is known for low everyday prices. Disney is known as the…...

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