Defining Marketing
Michelle Watson
Marketing 421
April 16, 2012
Kim Wm. Houseman
Definition of Marketing Marketing is often misunderstood. Ask the average person how they would define marketing and a majority would reply with something along the lines of commercials, ads, brochures, and other items used to market a business. Marketing is complex. It is a process, a practice, and a philosophy. As a process, it moves goods and services from an idea all the way through to the customer. As a practice, it embodies the elements of product, price, place, and promotion. As a philosophy, it is the basis of how customers’ needs and satisfaction are met by the business’ product or service. According to Perreault,
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Nike uses successful and famous sports figures to endorse their products. Consumers are willing to pay higher prices for items that they view to be superior in quality, reliability, and style. Brand management is one of Nike’s greatest strengths. For example, basketball-great Michael Jordan’s success on the basketball court led to hundreds of millions of dollars’ worth of sales of Nike’s Air Jordan line of products. Tennis, golf, and soccer are other sports where the Nike brand has made a large impact on fashion, style, and sports equipment. McDonald’s is another company whose marketing success has made it the world’s largest food service retailer. It serves millions of customers around the world and has franchises in more than 100 countries. McDonald’s reaction to consumer trends and expectations is what has risen this empire to the top. The consistency of the restaurant’s product maintains its customer base and meeting social consumer needs by sharing nutritional information and providing healthy menu options continues to grow its customer base as well. Last but certainly not least, Apple is quite possibly the world’s best marketing company. Steve Chazin, former Apple marketing executive and consumer marketing expert currently maintains a blog and has published and eBook highlighting Apple’s five secrets of marketing to become the world’s most valuable company. He condensed the secrets from what he learned throughout his 10
McDonald’s Corporation are the most successful and popular fast food brand in the world, holding the largest fast food market share and being the leading fast food restaurant chain in terms of world sales (8%). They are the second greatest outlet operator with more than 34,000 outlets, serving worldwide to 69 million customers daily, across 119 countries. Their brand is the seventh most valuable and
Marketing is often thought of as advertising and selling, but marketing encompasses more than just selling a product or service and advertising it to entice customers to make a purchase. Perrault, Cannon, and McCarthy (2009) defined 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 need satisfying goods and services from producer to customer or client" (p. 6). However, Kotler and Keller (2009) stated one of the shortest definitions is "meeting needs profitably" (p. 5). The author's definition of marketing includes all of the activities a business
Nike uses emotional context to appeal to a sports player mind. “Just do it”, Nike’s slogan, is encouraging athletics across the world to go on the field or gym and give it their all. Without seeing or directly experiencing the product, they convey a feeling to the audience to experience what it would be like to use their products. The main purpose of the Nike website is to adapt their audience to this ultra world of sports. Nike gives you the ability to do anything. Nike is a creditable source for quality sport clothing. They have contracts with Professional teams. When addressing counter arguments Nike has made it known to the world that they product the best athletic wear. Since being around from the 1960s Nike have been beating other competitive companies, such as Reebok, Adidas, and Under Armor. Stated by Hoover’s, Nike has 8 billion more total revenue then Adidas. They have been number one in their market for years. They challenge they best competitors, on Nike home page website they have the Jordan Jumpman label. Jordan is he greatest basketball player. With Jordan being with Nike there is no way none for the basketball audience to use a different brand then Nike.
There are changing societal trends in the areas where McDonald’s operate. There are changes in consumer preferences and also in some communities they culture different as compared to other areas in the market. To remain relevant in the market, they have to deal with these issues by conducting market research that will help them be knowledgeable of the needs of the market. They also need to adjust their menu to suit the needs of the consumers.
McDonald’s emphasizes cleanliness and food safety, in addition to quality and value service (QSC&V), through which it has succeeded in obtaining customer trust. The company also stresses ethical practices, dependability, and truthfulness in dealing with customers (McDonald’s, 2012, p. 1). Moreover, McDonald’s employs a coordinated marketing strategy that involves analyzing customer wants, creating products to satisfy his or her needs, setting the right prices and enhancing awareness of
In conclusion, Nike does a lot of things very well. Their promotional and marketing strategies and campaigns are outstanding and considered as being second to none. Their sponsorship of celebrity athletes, professional teams, and college teams and their advertisements showing these athletes and teams using and wearing their products to elevate their game is how they are able to powerfully connect with their customers. This and their high product quality have helped Nike to
When thinking of Nike, they are shoes and clothing how can they market their brand through something that people within our society can look up to and want to be just like that. The answer is Athletes. Nike right now has many different types of Athletes, which are the best at that sport on their team. Tiger woods, he is the best golfer to ever play the game and still is, he was the youngest person to ever win the PGA Tour and was named the number 1 player in the world for 162 weeks straight,(which is the longest streak ever), he has 9 different records within golf and is one of the most recognized professional athletes in the world. Lebron James, is right now the best player in the NBA (national basketball association) he currently has 3 championship rings and currently is in the mix of maybe beating Michael Jordan who currently is “the best player in NBA history”, which he still has his contract with Nike as well. Nike is able to create different styles within these Athletes, for example The Jordan series, or Lebron series or even Tiger apparel and series. These athletes are the face of Nike and bring in the entire customer base to the level of fans these players have. All younger adults that play basketball only want these types of shoes due to them being the signature to those shoes. The task Significance is massive for Nike and brings in their revenue of 30.8 billion due to these athletes being the face of Nike. Next category we will be discussing is Skill Variety. Nike all started from a back of a van being sold just to get a paycheck and feed himself. The name is Phil Knight, he was a track star that had a very bright future within this field, and had help from a track trainer/past Olympic runner Bill Bowerman. Phil was an entrepreneur, who had a dream that was very thin and unrealistic, but Bill was able to make that dream into a reality, with Phil’s ideas and methods
McDonald’s continues to test new products to satisfy these preferences and tastes. McDonald’s menu includes hamburgers, cheeseburgers, wraps, chicken sandwiches, chips,desserts, pies, salads, sundaes, soft serve cones, coffee, soft drinks and other beverages. McDonald’s also promotes a variety of products during a limited time period. They also offer full or a limited breakfast menu in the U.S and many international markets. The importance of quality, choice and nutrition is increasing for McDonald’s customers and they are continuously expanding their menu to meet those needs.(McDonald’s Corporation. (2016))
NIKE gives considerable attention to the marketing activities. It is one of the biggest reasons is so successfull. NIKE is popularising their clothings and sports equipment while using famous people, usually important people in sports, to be their promoters. That is shown as werry successfull and thanks to that selling is in big rise.
Marketing has become a part of society and a huge part of the American culture; one has only to observe the timeless art of Andy Warhol and the iconic Campbell’s Soup Can at the National Gallery of Art in Washington, D.C. A personal definition of marketing is creating a product or service that fulfills a need and taking the idea from a concept to the kitchen table. Business Dictionary defines marketing as “the management process through which goods and services move from concept to the customer” (Business Dictionary, n.d.) as “the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large” (Marketing Power, 2004).
Nike is probably the most well known name in sports athletic apparel. The firm has supported the most prolific names and sports. Michael Jordan, Tiger Woods, and Ken Griffey Jr, are just a few of the athletes that Nike sponsors. The company’s revenue constantly grosses in the billions. The company continues to dominate the athletic apparel industry.
There has been much misconception about what marketing really it only about commercials on the television or billboards that dot the highways, advertisements in the paper or salesman attempting to sell you their products. Many believe that this is marketing but marketing is much more complex than the advertising and the selling of goods and services. In fact, the above mentioned elements only form part of the whole marketing process. Marketing consists of a wide range of activities involved to ensure continuation of meeting the needs of the customers and getting appropriate value in return. MarketingPower.com defines marketing as
McDonald’s is a fast-food legend that gives its consumers a chance to experience it delivering inexpensive food with consistent taste regardless of location, quick service, and a clean familiar environment. The key elements that McDonald’s use envolve both global and local elements. McDonald’s offers american style hamburgers in most of its restaurants around the world and the group people who are consuming this food is growing everday and including its french fries too. McDonald’s tries to sell its products in the same
McDonald’s is the largest chain of hamburger restaurants in the world. The company was founded in the United States but it has other branches in various parts of the word like in the UK, Australia, and New Zealand among others. Apart from hamburgers, McDonald’s also sells breakfast items, French fries, chicken, pizza, soft drinks, cheeseburgers, milkshakes, and desserts. Recently, due to changing customer tastes, the Company has expanded its menu to include things such as salads, seasoned fries, fruits, fish, wraps, and smoothies. McDonald’s competes widely within the food industry in fast foods like hamburgers, French fries, soft drinks, and other fast foods. Being a fast food company,
Marketing is an act of promoting and selling products or a service, this also includes marketing research and advertising. The marketing concept is the philosophy used by companies to analyse the needs of their customers so they can be better than the competition. As well as this they must also take into consideration the companies capabilities and the environment it is working in, as they can face the pressures of environmental changes. By using the marketing concept companies identify incoming changes and prepare itself to exploit them. The marketing concept is about matching a company’s capabilities with what the consumer wants. After World War 2 customers had more money and could afford to be more selective when