Riordan Manufacturing SWOT Analysis
Defining Marketing
Bill Parker
University of Phoenix
January 26, 2010
Defining Marketing
Riordan Manufacturing has developed into a powerhouse multinational plastics manufacturer over a brief span of 14 years. Riordan’s rapid growth has benefited multiple manufacturing and distributions sites, including sites in North America and China. Riordan Manufacturing’s major customer bases are automotive parts manufacturers, aircraft manufacturers, appliance manufacturers, beverage makers and bottlers, and the Department of Defense. This paper provides a high-level overview of Riordan’s operations and options to expand its operations. Furthermore, this paper will compare and contrast the options using a SWOT analysis approach, and …show more content…
Include in your paper your personal definition of marketing and definitions from two different sources. Based on these definitions, explain the importance of marketing in organizational success. Provide at least three examples from the business world to support your explanation. Be sure to cite properly cite your sources in your paper.
My personal definition of marketing is finding out what customers want, and then setting out to meet their needs, provided it can be done at a profit. Marketing includes market research, deciding on products and prices, advertising, promoting, distributing and selling. Different entities define the term marketing in different ways. “The American Marketing Association offers the following formal definition: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders” (University of Phoenix, p. 2, 2010).
“Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need
Bill Parker
University of Phoenix
January 26, 2010
Defining Marketing
Riordan Manufacturing has developed into a powerhouse multinational plastics manufacturer over a brief span of 14 years. Riordan’s rapid growth has benefited multiple manufacturing and distributions sites, including sites in North America and China. Riordan Manufacturing’s major customer bases are automotive parts manufacturers, aircraft manufacturers, appliance manufacturers, beverage makers and bottlers, and the Department of Defense. This paper provides a high-level overview of Riordan’s operations and options to expand its operations. Furthermore, this paper will compare and contrast the options using a SWOT analysis approach, and …show more content…
Include in your paper your personal definition of marketing and definitions from two different sources. Based on these definitions, explain the importance of marketing in organizational success. Provide at least three examples from the business world to support your explanation. Be sure to cite properly cite your sources in your paper.
My personal definition of marketing is finding out what customers want, and then setting out to meet their needs, provided it can be done at a profit. Marketing includes market research, deciding on products and prices, advertising, promoting, distributing and selling. Different entities define the term marketing in different ways. “The American Marketing Association offers the following formal definition: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders” (University of Phoenix, p. 2, 2010).
“Marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need