marketing

1904 Words Oct 24th, 2014 8 Pages
Title: Better by the Circle? The dynamic effect on the Marketing Concept.
Abstract
The marketing concept is an overarching concept that links the philosophies, practices and theories of marketing. It closely examines an organisations ability to analyse the needs of the customer and make informed decisions based on these needs. These decisions are based on evidence and work towards matching the organisations capabilities and the customer needs, ultimately, to satisfy both the organisation and the customer.
Introduction
The evolution on marketing dates back to the Neolithic revolution approximately 12,000 years ago. A classic definition of marketing is “The human activity directed at satisfying needs and wants through the exchange
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Satisfaction
Satisfaction is a key sub concept within the circle of satisfaction as it relates closely to many other areas and is the core principle of marketing. Satisfaction in relation to the circle of satisfaction and more importantly the marketing concept can be viewed from two levels, transactional satisfaction and cumulative satisfaction. Transactional satisfaction relates to the interaction between the customer and the organisation and is can be often the only form or satisfaction that some marketers refer to, however cumulative satisfaction is a more in depth concept of satisfaction as it leads on from transactional satisfaction.
Cumulative satisfaction is an evaluation of satisfaction on behalf of the customer over a longer period of time. It examines the customer’s subjective needs consistently over time which results in outcomes relating to loyalty and trust. This can be further highlighted through the below diagram extracted from slideshow (Fanning,2014,p.33).

A journal article which researches service equity, satisfaction and loyalty by Johnson and Olsen (2003). is an informative article through the use of different research models and study which culminates in an understanding that cumulative evaluations are an important measure of customer loyalty. Hence management that closely examines cumulative satisfaction has a better understanding of improvement for the customer
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