Marketing Systems
Marketing Systems
Abstract
The landscape of marketing has changed in so many ways since the birth of new technology. It has changed the way companies compete for consumer’s business. Big retailers such as Wal-Mart, Kroger, and Target constantly analyze their marketing strategies to keep customers coming back to their stores. Whether it is promoting “low prices” or “designer clothing at affordable prices,” they must continually analyze their marketing strategies to make sure they are meeting customer’s demand and satisfaction.
Marketing
There are many definitions of marketing. Here are a few: The accomplishment of business goals through meeting and exceeding customer needs better than any of the competition. The process of management that identifies, foresees, and supplies customer needs efficiently and profitably. To be a successful marketer you must understand the customer needs, produce products that have excellent value and are affordable to the customer.
The food market in the United States is a very competitive market. “To meet customer’s needs and stay competitive, food retailers introduced nearly 10,000 new food and beverage products in 2002,” (Harris, Kaufman, & Martinez, 2002). “Competitive pressures to meet customer needs have changed the way food is transported from the farmer to the customer,” (Harris, Kaufman, & Martinez, 2002). Many food manufacturers choose to deal directly with the farmer to achieve the quality and quantity of food needed to satisfy the consumer. “In order to gain sales, food marketers make efforts to increase customer satisfaction by offering natural food products, prepared foods, promoting store brands, and offering self check out lanes,” (Harris, Kaufman, & Martinez, 2002). Kroger’s offers a store card that keeps track of each customer’s purchases, gives coupons based on customer purchases, and offer a gasoline discount to their customers without the hassle of having to go inside the store. Most of the retailers now offer store brands to consumers which are lower in cost and profitable for the retailer. Kroger’s marketing strategy also offers 10 cents off per gallon of gasoline for every $100.00 purchase of groceries per month. Wal-Mart’s marketing strategy is focused on “everyday low prices” and “one-stop shopping” with the benefit of being able to shop for not only groceries but clothing, house wares, electronics, jewelry, and many other products. “With Wal-Mart being the largest retailer and K-Mart hobbled by bankruptcy, Target now has the attention of Wal-Mart,” (Barwise & Meehan, 2004). Target is growing in popularity with increasing sales. “They have begun signing designers to make baby bottles and offering designer clothing that only Target’s can carry at an affordable price,” (Barwise & Meehan, 2004). “Target’s strategy promotes contemporary fashion at low