Unit 1 Seminar Alternative

Unit 1 Seminar Alternative - Unit 1 Seminar Alternative...

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Unit 1 Seminar Alternative MT450: Marketing Management February 6, 2012 Charity Barnes
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According to BusinessDictionary.com, marketing is defined at the management process in which goods and services move from concept to consumer. A stable marketing strategy consists of 4 P’s; the identification, selection, and development of a product, determination of its price, deciding how to distribute to product so it reaches the customer’s place, and developing and implementing a promotional strategy (BusinessDictionary.com, 2012). The act of marketing has been an essential part of business for many years and has impacted just about any type of business imaginable. Marketing has had an unbelievable contribution to the world. It’s marketing that makes products known to the public, services available to those who need them, and educational outlets accessible to those wishing to make a better life for themselves. I would like to take a look into the marketing strategies of three of the most successful retail companies in this country; Wal-Mart, Target, and K-Mart. Everybody had heard of Wal-Mart’s famous slogan “save money, live better”. This slogan alone is enough to get customers in the store because everyone wants to save money and they certainly want to live better. They have been a very successful company in the short 50+ years that they have been in business greatly due to their tapping any and all resources available, including markets overseas and abroad (Lang & Govindarajan, 2002). Wal-Mart’s strategy has always been to carry brand name clothes at an affordable price giving consumers an option other
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Unit 1 Seminar Alternative - Unit 1 Seminar Alternative...

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