The Key Characteristics Of Corporate Marketing

2169 Words9 Pages
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…show more content…
Traditional marketing is effective in creating segments within the target customers. Traditional marketing strategies are effective ways to deliver content to customers (Strategic Marketing Solutions, 2013).
The traditional marketing mix
The traditional marketing is identifiable with its 4P’s marketing mix: product, place, price and promotion. Armstrong and Kotler (2005, cited in Rahnama and Beiki, 2013) referred to product “as anything that can be offered to the market for attention, acquisition, use, or consumption and that might satisfy a want or need” (p. 147). In the adoption of a strategy for the benefit of the organization, consideration must be given to the development of the product along with its packaging and branding and other aspects which relate to the totality of the product. Place is a traditional marketing mix which includes “channel type, exposure, transportation, distribution, and location” (Rahnama, et al., 2013, p. 147). It has to be remembered that the product must be available to the customers anytime and anywhere, depending on the knowledge of the wants of the customers (Saeed, Bilal and Naz, 2013). The channels, wherein the flow of product’s distribution takes place, have to be monitored and secured in order to ensure that the distribution process runs seamless and product shall reach to the end users as desired. The pricing mix comprises “competition, cost, markups, discounts and geography” (Rahnama, et al., 2013, p. 148). It is
Get Access