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4 M's of Marketing Essay

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Marketing Management
MKTG – 508-010
Spring 2010
Dr. Walter Kendall

Submitted by
Shagun Nagpal
On
Mar 27th 2010

Tarleton State University

Abstract
Marketing is a combination of activity and set of institutions that create, communicate deliver and exchange services that have values to society including customers and clients. (AMA, 2007) Marketing emerged as a technical field of study in early 19th century but it came into existence all over when Neil Borden uses the term marketing mix for the first time in 1953. According to Neil Borden marketing is all about the 4P’s (product, place, price, promotion) and we have to take care only of these 4P’s to become a marketing guru but after reading almost 5 books on marketing I can …show more content…

By doing this they are making good relation with their customers and this is what we call relationship marketing According to Don Pepper and Martha Rogers in the book marketing guru the new era of marketing is to have 1:1 marketing with the customers. According to me 1:1 marketing is a success because in this 1:1 marketing we have to go door to door to sell the product which help customers to solve their quarries on the sport and results in good relations with the same customers. Marketing is changing from a push to pull model and consumers are taking more control over what they view and how they view it. To address this challenge, all companies are using relationship marketing in order to develop cost-effective strategies for retaining and building loyalty with their customers (Pepper D., & Rogers M., 1993).
Now a day if a person is satisfied with a product and he has good relations with the company then he must going to tell all his friends in his social network to buy the same product and this is called word-to-mouth which is being discussed by Emanuel Rosen in the book marketing guru. This is also known as BUZZ which is most powerful and cheapest tool of marketing (Rosen, Emanuel, 2000). Consider an example from everyday life. Suppose you have your own department store and someone in your department store tells you that one of your colleagues have shifted

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