New Model And Strategic Marketing Management

The marketplace is not what it used to be. It is radically changing as a result of major societal forces such as technological advances, globalization, and deregulation. These major forces have created new behaviors and challenges.  Customers increasingly expect higher quality and service and some customization. They perceive fewer real product differences and show less brand loyalty. They can obtain extensive product information from the Internet and other sources, which permit them to shop more intelligently. Marketers are responding to these challenges through customer relationship marketing.

My perception between marketing and consumer is that, there must be enough consumers to form a market, which comes up with marketers starting using strategies for “Marketing”. The relationship between marketing and consumer has always been varying. In the modern society, consumers are tend to be more demanding with their growing affluence, growing complexity of goods and services and also have more leisure. It has become more challenging or the organisations and especially in the service industries sector. (Nair, Suja R, 2009, p.467)

A successful strategic marketing process must be thoroughly developed prior to implementation. A strategic marketing plan according to Vega & Rojas (2010) is “to assign and to coordinate effectively the marketing activities and resources in order to achieve the company’s goals or strategic mission" (p. 3). The strategic plan must include target goals consistent with the company's mission statement, a plan for implementation, and a process for controlling and correcting deviations. Target goals are met by identifying marketing segmentation, which is targeting a specific market for a particular service or line

what their consumers truly wanted in a product. Over the last century, the marketing landscape

During the 90’s firms realized that customers do not solely interact with the marketing department, but with all the organization. However this strategy disappeared because it was very expensive and tedious to maintain.

Recently the firms were supposed to change their marketing strategies from product-oriented to customer-oriented. In this context, the firms need to provide “what they have to provide into the market” rather than “what they want to provide into the market”. In addition, the firms should allocate their resource into the appropriate domain for which the customer really wants. For the purpose, the firms need to analyze the external environments.

Expectations of today consumers have changed and they are no longer passive consumers. They expect to be respected rather than treated as sales leads and expect gratification when it comes to searching, finding, and having information. Hence, today, the world of consumers is different from its past era, which make past marketing tactics outdated and irrelevant.

While this is an extensive collection of different writers and ideas, this book is broken down into seven different categories, and the ideas are dispersed based on their individual content. The first main category discusses marketing in a changing world. The five pieces that are combined in this category discuss the marketing challenges that each industry faces and how the industries communicate with each other about the quality of a certain product.

Marketing Mix is set of tools used to describe the combinations of the four inputs that constitute the core of an organization marketing system. The four elements are: Product, Price, Place and Promotion.

The ever changing customer demands paved the evolution of marketing concepts. Marketing concepts have to evolve in order to address the business needs, keeping in balance the growth of the organization and customer satisfaction. Keelson (2012) observed that “the development of the marketing concept demonstrates how business thinking has been shaped in line with customer demands and business environments in different eras” (p. 40). The organizations’ adoption of new marketing concepts is proper and reasonable for diverse business needs were addressed by different business concepts and ideas over time. The concept of corporate marketing has evolved from traditional marketing. Balmer and Greyser (2006) advanced that there is a need, to raise

“The customer is always right “is a popular phrase denoting that business direction is determined by its consumers. It is a phrase with which many marketers are familiar, and one by which most successful companies are driven. But why is this seen as a golden key to business success? Lee & Carter (2012) argue that the ultimate marketing goal is to fulfil consumer needs and wants in a manner which is better than that of the competition. Being consumer focused in today’s world has to be seen as a complete necessity in order to drive business. Some would say it is a “licence to practice” (Zairi, 2000). This paper will examine and critically discuss the key elements in understanding why the consumer is your most valuable asset, and why fulfilling their needs is paramount to business success.

In the past decades, the role and form of marketing has rapidly evolved to match the now global environment. This rapid growth and change has made it necessary for

In today’s world marketing has changed tremulously since the early years. Marketing in the 21st century is all about delivering the customer experience (James Allen and Rob Markey). Our future generations that’s going to be part of our marketing, will have more income and less time and more choices due to not understanding of what they are shopping for. They

The marketing process has gained more and more significance within the modern day business setting. As competition intensifies and the demands of customers exponentially increase, the economic agents are forced to devise and implement new strategies that attract and retain customers. In other words, it is no longer sufficient for a company to provide its customers with high quality products and services, but it has to also make use of complementary solutions, such as marketing strategies.

The marketing concept is a relatively recent one (Blythe, 2008), and while there are several definitions of marketing, it is agreed that marketing involves the process of exchange between firms and customers, where both parties benefit (Adcock et al, 2001), and that the customer and his needs are placed in the centre of the organization’s activities (Blythe, 2008). Due to this, it is the goal of many organizations to establish a strong brand and significant equity based on their customers.