ANSWER TO QUESTIONS

Answer to Questions

Answer to Questions

1. Question

Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Marketing is used to identify the customer, to keep the customer, and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the last 2-3 centuries. Companies then shifted the focus from production to the customer in order to stay profitable.

The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors. In other words marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

For this purpose I have selected Wal Mart and Marks & Spencer marketing strategies:

Wal-Mart's marketing strategies are based upon a set of two main objectives that have guided the firm through their growth years. The customer is featured in the first objective; “Customers would be provided what they want, when they want it, all at a value”. Team spirit was emphasized in the second objective, “Treating each other as we would hope to be treated acknowledging our total dependency on our associate - partners to sustain our success”. I agree with Wal-Mart's two main objectives. The customer objective includes giving the customer what they want at a reasonable value. The second objective covers the foundation of the company; its employees. Employees are the basis for success of the company and drive the day-to-day operations. Wal-Mart's employees, feeling like associate partners, give them a feeling of empowerment and pride that drives the company's culture. Wal-Mart has launched successful marketing strategies that considered factors like social and environmental causes.

Marks & Spencer joined the ranks of retailers announcing board level changes on Monday, appointing Ian Dyson as group finance director. Dyson replaces Alison Reed, who will leave M&S at the end of April. He is moving from leisure group Rank.

M&S chief executive Stuart Rose said: "Ian comes from a highly competitive sector, which has seen enormous change in recent years. His track record at Rank has demonstrated his ability to deliver in that environment and his experience in restructuring businesses will be important in re-building the fortunes of Marks & Spencer." He is young and energetic, and with this appointment we are building the team for the long-term." Rose added: "I would like to thank Alison for her substantial ...