One of the many challenges marketers may face is a form of corporate midlife crisis. Just like people, businesses may find that after a while, after a period of success and growth, they need to re-evaluate their priorities and goals. Wal-Mart provides an example of a corporate midlife crisis, as its growth after 2005 fell to 2% and faced an increasing number of major competitors. All it takes is for a people to turn a midlife crisis into a positive midlife transition, Wal-Mart can potentially use holistic marketing to successfully adapt to a competitive and dynamic economic environment. Much like a person's midlife crisis, Wal-Mart has several symptoms that can be attributed to a midlife crisis. As an example, Wal-Mart recently experienced a decline in growth, down to just 2% between 2005 and 2007, similar to the decline in a person's health and productivity as they age ( Doheny, 2009, p. Marketing management is the art and science of choosing target markets and obtaining, retaining and growing customers by creating, delivering and communicating superior customer value (Kotler & Keller, 1 - Defining Marketing for the 21st Century, 2014, p. Marketing is much more than just selling a product, and retaining and growing customers is an integral part of a successful marketing strategy (Kotler & Keller, Marketing Management, 2012, p. 4). Life crisis is healthy growth among those of one's competitors, similar to a person's change in their social relationships (Doheny, 2009, p. 2). Wal-Mart is experiencing declining demand compared to its competitors (Kotler & Keller, 1 - Defining Marketing for the 21st Century, 2014, p. 7). Declining demand, consumers are choosing to purchase the...... middle of paper ...... competitive and dynamic economic environment in a way that allows it to gain an edge over its competitors, today and in the future.Works CitedBianco, A. (April 30, 2007). The midlife crisis at Wal-Mart. Retrieved from Bloomberg Businessweek: http://www.businessweek.com/stories/2007-04-29/wal-marts-midlife-crisisBrooks, DR (nd). What happens when a company hits a mid-life crisis? Kotler, P. and Keller, K.L. (2012). Marketing management. Upper Saddle River: Pearson. Kotler, P. and Keller, KL (2014, January 2014). 1 - Define marketing for the 21st century. Retrieved from Saint Mary's University - Engage: https://engage.stmary.edu/learn/mod/page/view.php?id=45535Kotler, P. and Keller, KL (January 4, 2014). 2 - Develop marketing strategies and plans. Retrieved from Saint Mary's University - Engage: https://engage.stmary.edu/learn/mod/page/view.php?id=45535