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Marketing and Business Practices
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Marketing has been a major component in organisations, it exhibits the primary focus on transactional exchange and its key focus on the products or services may be of interest to customers, and the strategy to use in sales, communications and business development (Kotler, 2009). The history of marketing and marketing practices itself can be related back to as far as 7000 B.C. (Carratu 1987), it derived from the changing revolutions as well as the rise of economies particularly in the 19th century (Robert 1988). Marketing come from evolving practices, approaches and theories that have been accumulated and brought up from scholars, business people and practitioners. The changing environment in organisations, social changes, development, and particularly the growth of national and international economies has led to organisations into the field of marketing.
The earlier approach to marketing orientation included the production, product, selling and marketing orientation. Until the 1950s, firms focused on the production orientation, this significantly called for the firms to produce at rapid rates allowing for productivity development and production efficiency. French economist John Maynard Keynes formulation of Say's law of how ‘supply creates its own demand’ allowed open opinions for the production orientation to pursue. As far from development, the production era brought up issues of narrow product lines, pricing based on the costs of production and distribution, research was limited, promotion and advertising was minimal (Kotler, 2009), causing further changes and developments to commence in which its key focus on the quality of the product instigated, therefore production orientation evolved within the product orientation.
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...onship within the organisation. Kotler (1972, p. 46) observed on the subject of further shifts in marketing, in which he believed that the emergence of a relationship focus will supply a ‘refreshed and expanded self concept’ to marketing.
Works Cited
Kotler, Philip; Gary Armstrong, Veronica Wong, John Saunders (2009). "Marketing defined". Principles of marketing (5th ed.). p. 7
Bartels, Robert (1988). The History of Marketing Thought (3rd. ed.). Columbus: Publishing Horizons
Adcock, Dennis; Al Halborg, Caroline Ross (2001). "Introduction". Marketing: principles and practice (4th ed.). p. 15.
Jenkinson, A. (2006) Do organisations now understand the importance of information in providing excellent customer experience? Journal of Database Marketing & Customer Strategy Management. v13 n4. p248-260
Mason, C. (2011) Relationship Marketing: Lecture 1, Slide 6-18,
Pelton, L. E., Strutton, D. & Lumpkin, J. R. 2002, Marketing channels: a relationship management approach. McGraw-Hill Irwin: Boston, p. 387.
Peter's & Waterman write of marketing but never refer to the marketing concept. However, is the philosophy of the marketing concept crucial to the theme of the book? Or, is the marketing concept compromised by the authors' interest in a product orientation.
Soman,D & Marand, S (2009). Managing Customer Value: One Stage at a Time.: World Scientific Publishing. p9-14.
There is a belief that firms have a different marketing approach depending on if the firm is trading services or goods. Service firms are assumed to have a more relational approach where they manage the whole buyer-consumer communication process while the goods firms are transactional. The main purpose of this study is to find out how firms relate to their markets and what the relative emphasis of these firms on transactional and relational aspects of marketing are.The study distinguishes the firm type by the most dominant type of product offered and the most dominant of customer
” Chartered Institute of Marketing defines it as the management process responsible for identifying, anticipating and satisfying customer’s requirements profitably. However, there exist numerous definitions of marketing, it is always about “meeting existing needs and anticipating future needs” (Bagozzi, 1975). The marketing concept is a kind of recipe how a company can achieve its goals by understanding the exchange partners and associated costs, being a response to external opportunities and threats and to internal strengths and weaknesses as a means of competitive advantage (Houston, 1986). Bagozzi (1975) underpins this viewpoint, arguing that marketing is much about the exchange paradigm which focuses on the question why parties take part in exchanges and how these work.
Jobber, D. (2013), and Ellis-Chadwick, F, “Principles and Practice of Marketing, 7th edition.” McGraw Hill.
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
Many scholars believe that customer satisfaction has a crucial role in the success of a business, and is pivotal in increasing the overall profitability of the business (Kotier, 1991). Customer value is gained through the experience they receive from the goods or purchases they have obtained from a certain business. Customer value has various definitions and concepts, Holbrook (1999) stated that it is a kind of “interactive, mutual, and preferred experience”; but simply said, “the term customer value has many meanings.”
To begin with, the definition of marketing has different explanation for different individuals so it is highly controversial (Kotler et al., 1983). The Marketing Association of Australia and New Zealand (2005) also states that there are diverse description of marketing and the concept of marketing is different from earlier time which is more restricted to present time which is boarder. However, it is comment that although in the different time period the concepts of marketing is different, the key points such as understand customer wants and needs will always expected rel...
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
“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.” (AMA, 2007)
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
MAKLAN, S. & KLAUS, P. 2011. Customer experience: are we measuring the right things? International Journal of Market Research, 53, 771.
Customer relationship management has become the marketing buzzword of the past two decades with business-to-business firms jumping in, many without really being certain of what they hope to achieve from it, and oftentimes being disappointed with the results.
Customer relationship management or CRM for short is a model for managing a company’s interactions with current and future customers. When CRM is utilized correctly it will increase profitability and customer loyalty, which are both very important to an organization. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. Customer relationship management is very important in many ways to help a company become and stay successful. CRM can help businesses gain a competitive edge through communication, marketing, gathering customer information, social media and mobile technology. Customer relationship management is a continually evolving domain and now social media technologies have revolutionized the way businesses and consumers interact. (Choudhury & Harrigan, 2014) There are many benefits that come with implementing customer relationship management.