Marketing Defined

Marketing Defined

Basic marketing is defined by Random House Webster’s College Dictionary as “the

act of buying or selling in a market” (Random House 2000), however time and

circumstance have added so much to this definition. Though it still involves the act of

selling or buying, it has grown into a much broader definition. Where as marketing use

to be a very simple concept, the expansion of business, competition and development of

new technology through the years, in particularly over the past decade has added a level

of complexity to the original design of marketing strategies. (Armstrong / Kotler 2005)

Today marketing involves more of an affiliation with a company’s customers and the

administration of those affiliations than it ever has before. (Armstrong / Kotler 2005)

Businesses that find a successful way to develop and control their customer associations

are more likely to be profitable in the long run. These businesses do so by exploring

what their customer’s desires and needs are as well as identifying how those desires and

needs might be fulfilled by the company’s product, service or experience. If customers

do not find a value or gain satisfaction from the offered products, services or experiences

it is improbable that they will maintain their customer/business relationships with a

specific company. Failure to maintain customer relationships prevents a company from

obtaining an exchange value which is measured by the number of transactions that they

potentially annex from their customers in the sense of sales, profits and business

expansion. (Armstrong / Kotler 2005) As in any successful relationship whether it be a

love relationship, mother/child relationship or friendly relationship a customer/business

relationship’s success is based on the premise of give and take. Each participant is giving

and receiving from the relationship what they need and or desire to continue on

confidently in the relationship.

A company that has mainstreamed this revamped marketing approach successfully is

Dunkin Brands Inc., a division of a U.K. based company called Allied Domecq PLC and

owners/marketers of such express service restaurant product brands as Dunkin Donuts,

Baskin-Robbins and Togo. Today Dunkin Donuts, Baskin-Robbins and Togo retail

shops are operated in a franchise configuration and have made Dunkin Brands, Inc one of

the most prevalent quick service restaurant companies in the entire world. Their

marketing design formed as a growing and fast paced society forced more people into the

workforce developing a desire and need for a worthy, quick service solution to breakfast,

lunch and dinner as well as deserts. Dunkin Brands, Inc. cultivated and nurtured their

marketing concept according to these sociological transformations by developing

customer relationships and fulfilling the needs and desires of an ever changing, on the go

society. (Dunkin Donuts 2006)

Dunkin Donuts coffee which is said to be the best coffee in the world has been an

essential element in relationship development for many years. Customers have for years