Marketing

Sheila Vedenhaupt

American Intercontinental University

Unit 4 Individual Project

MKT255 – Fundamentals of Marketing

October 30, 2010

Abstract

Marketing is a process that marketers develop in order to reach the companies target markets. Development of a marketing strategy and plan is essential to the success of the company. The discussion will address the marketing plan of Mars, Inc., from the initial product introduction and follow it through to the promotional tools used to promote the product.

Unit 4 Individual Project

Introduction

Marketing plays an important role to the overall success of the company, this discussion will walk through the marketing process describing each step of the process along the way.

Definition of Marketing

Marketing is the development of a business plan, through research, that identifies a target market and verifies consumer needs; meeting the consumer needs by using marketing techniques that promote products that are produced toward consumer needs and desires considering healthy lifestyles through the combination of price, packaging, advertising and distribution (Dictionary of Business (2006), Collins Dictionary of Business (2005) and Crystal Reference Encyclopedia (2005)).

Introduction of Product/Service

The product chosen is the snickers bar by M&M Mars Company. The snickers bar was first produced in 1930 and was the top chocolate bar then and over seventy five years later, the snickers bar is still the number one chocolate bar (Mars, 2010).

Effective marketing techniques and the company’s dedication to satisfying consumer needs through a five principal process has upheld quality products through the years, with continuous research, improving existing products and producing new products geared toward health with minimal updates in pricing and packaging while maintaining quality and efficiency through customer’s request and communication.

Situation Analysis -- Marketing Environment Forces Impacting...