Brittany Wright
Alternate Seminar
Unit 1

Marketing can be defined in several different ways. According to Marketing: An Introduction, Global Edition, marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return (page 33). Companies use marketing to skills to maintain connections within the company to every customer. This can also be related to the mission statement. A mission statement of a company is a statement of purpose, which acts as a ‘hand’ to guide people in the organization. Mission statements shouldn’t tell what is done at the facility, yet what will be done better than the next. For example, a product-oriented mission would be, “We buy and sell phones.” However, a market-oriented mission would be, “Connecting the world, one day at a time.” Many companies attempt to maintain one steady mission statement, whether market or product. The most effective mission statements are powerful, yet meaningful. A company’s mission should not be stated to make more sales or profit, yet the customer’s needs and experience. McDonald’s mission isn’t, “to be the world’s best fast food restaurant ever. Many companies tend to have the slogan, “The customer is always right”. This is very important for each department of the company to understand because everyone is affected by the consumers similar to that of a domino effect. For example, if the marketing department slacks, it causes the profits to be low which will cut the finances that also makes the budget low that may cause pay-cuts as well. If there are pay cuts, people will be laid off. If the company doesn’t have enough money to interest the costumers, they will not gain enough profit to buy inventory for the next month. For example, Kmart was going belly-up back in the late 1990’s, because they didn’t have a high