Mkt 421 Week 1 Individual

870 Words Sep 23rd, 2013 4 Pages
Marketing MKT/421

Introduction Marketing is a very unique process that enables limitless methods or variations for an entity to appeal to a particular target market as well as to deter from a particular market. Marketing is used in more than just business; The kinds of clothes an individual wears and the attitude a person portrays can be used to market him or herself to the public for many reasons: Maybe to attract a woman a man is attracted to, possibly to impress the president of a company a person is interviewing for, and even to just create a base of his or her character in which other people will judge him or her by. Marketing is everywhere from the business side of the spectrum to relationships people have
…show more content…
McDonalds paid close attention to popular culture and what the mass majority of people desired at periodic times and continuously innovated and changed its menu to cater to the needs of the public at that time. Similarly, another way to define marketing is that it is about meeting and identifying human and social needs. In short, it is meeting needs profitably (Kotler, P. 2012). A prime example of this is Ikea; Ikea is a widely known furniture company that was founded by Ingvar Kamprad in 1943(Marketing Lessons From Ikea, 2011). Furniture has always been a large expense to consumers as well as to furniture businesses due to the cost of labor in putting the furniture together. After all, the art of designing and building hand-made furniture is a rigorous and time consuming job. Kamprad identified the needs of this market and realized that people wanted good furnishings at substantially lower prices. He also acknowledged that majority of the costs associated with building furniture was assembling the furniture prior to shipments. With this, he created the idea of selling knockdown furniture eliminating the process of assembly within the company overall. This allowed Ikea to meet consumer needs of inexpensive furniture by selling un-assembled furniture at cheap prices. The idea of cutting costs by eliminating the assembly process was very unique and

More about Mkt 421 Week 1 Individual

Open Document