Customer Is the King in Competitive Marketing World

1541 Words Aug 9th, 2010 7 Pages
ASSIGNMENT: MARKETING MANAGEMENT

“CUSTOMER IS THE KING IN COMPETITIVE MARKETING WORLD”

To: MONTO CHANDRA GOPE
Lecturer, Marketing Management, Metropolitan University, Sylhet.

From:

Md Redwanul Karim,
MBA 19TH BATCH
ID: 101-126-003.

Date of submission: 17/06/2010

INDEX

1. Introduction [Page-03]

2. Discussion
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Today, in this world of advanced technology, an unhappy customer will tell "a million of their closest strangers”.2 Present marketing world is very competitive and dynamic. However, promoting competition in the markets directly or indirectly serves consumers through protecting consumer interests and increased economic efficiency. In this situation, every organization anticipates competitors’ moves and tries to capture the market over the competitors. Products or brands by themselves do not automatically usher in customer loyalty or strengthen customer relations. In today’s world, customers look for products that best suit their needs and purpose in terms of price, features, quality and appearance. They expect to be treated as "kings" and to receive sales and service support, along with definite solutions to problems from retailers, dealers or channel partners. From customer point of view, the company or brand exists only to create value for them and to provide them with results. In the fast-changing global economy, the focus must be on the way in which the nature of value is changing, involving new ways to determine price of goods, innovation and emotion. The implication of these new forms of exchange is a transfer of power from the producer to customer.
The Managing Director of Foster’s Australia, Jamie Odell, said3, “Acknowledging the customer as the key consideration is a vital part of how

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