Thinking of marketing less as a function and more as a set of values and processes (Moorman and Rust 1999) appears as the new vision of marketing. The survival and growth of a company therefore requires accurate knowledge about customers and careful relationship management.
In this paper I look for the underlying principles of the new trends in marketing. In doing so, I focus first on exploring the new concept of marketing; then I show an example of new trends in marketing in AstraZeneca (See Appendix). After that, I tackle the concept of marketing communication with the case of Royal Caribbean Cruises (See Appendix). Finally I refer to conclusions.
During the last few decades marketing has been challenged to undertake a paradigm shift away from the view of marketing as an optimization problem with an emphasis on product, price, promotion and distribution and toward a conceptualization of marketing as a set of activities focused on intra-firm and inter-organizational influence processes. As a result marketing has moved away from a focus on transactions as the fundamental unit of analysis and toward a focus on relationships with customers and suppliers (Webster et al. 2003).
In addition, in this relationship the customer is no longer just a recipient of goods. The customer is viewed as a co-producer of service and therefore marketing is defined as a process of doing things in interaction with the customer (Vargo and Lusch 2004).
Understanding relationship in marketing (RM) requires distinguishing between the discrete transaction, which has a distinct beginning, short duration, and sharp ending by performance, and relational exchange, which traces to previous agreements and is longer in duration, reflecting an ongoing process (Morgan and Hunt 1994).
Numerous definitions of RM have been introduced in the literature since the beginning of 1990s reflecting the high attention of researchers of different schools to the topic. What seems to be agreed upon among the authors in the area is that RM constitutes a major shift in the marketing field. What is missing from most of the extant definitions of relationship marketing is the specific recognition that many instances of relationship marketing do not have a "customer" as one of the exchange participants. Conceptualizing relationship marketing, as suggested by Morgan and Hunt (1994), requires a definition that accommodates all forms of relational exchanges. Morgan and Hunt (1994) propose ten discrete forms of relationship marketing categorized with reference to a focal firm and its relational exchanges in supplier, lateral, buyer, and internal partnerships, as Figure 1 shows.
To cover all forms of relational exchange and focus on the process of relationship marketing, Morgan and Hunt (1994) propose the following definition: Relationship marketing refers to all marketing activities directed toward establishing, developing, and maintaining successful relational exchanges.
Figure 1: The relational exchanges in relationship marketing (Source: Morgan and Hunt, 1994)
In the process of building and maintaining these relationships the marketing has to focus not only on its traditional stakeholder "buyer partnership" but on internal, supplier and lateral partnerships as well in order to strengthen its process inside the firm.
As suggested by Moorman and
The new economy has bought about a new approach to marketing that is no longer product/market driven but customer driven. In today's competitive economy marketing management eventually rests upon the customers' behaviour and reactions not only to the 4P's namely product, price, promotion and place, but also with the additional 3Ps of physical layout, process and people (e.g…
Carefully outlined and correctly implemented appropriate integrated marketing communication strategy will manage to influence on people’s awareness, impelling them to renounce alcohol, become blood donors and give support to ill and needing patients. Mentioned marketing strategy is supposed to be elaborated for the period from October 2011 to February 2012.
Not only is it extremely difficult to compete against beverages' manufacturers such as Coke, Pepsi or Nestle, but it is just as difficult to launch a successful local beverages outlet/caf. Competing against Costa, Starbucks or Columbus, to name but a few, is a daunting prospect and a highly risky venture.
After conducting studies in which Unilever examined the impact of narrowly defined beauty as seen by women on fashion magazines, advertisements and billboards, Unilever found that only two percent of women describe them as beautiful (Traister, 2008) which served as the basis for this campaign.
A company has a business objective to achieve and to give it firm shape the organisation develops a business plan. Part of the business plan deals with the communication strategies of the firm which is delivered through marketing, advertising and promotional campaigns.
The integration of the marketing communication means that the company has to include all the aspects of the company attributes into the product and all the strategies used in the marketing strategy should convey the same message. Marketing mix is associated with marketing communication and this allows the company to blend its elements of promotion into other operations and the result is more purchases of their services.
The conclusion from this study states that different strategies are used in order to make Austali bikes, one of the successful brands. The main theme which is used is technical strategies. Technical strategies are those strategies with the help of which a brand can work well, can gain the maximum amount of share, can gain attention and also can make any company a strong one.
And fortunately, a big computer company who was willing to develop this technology based on the idea of these youths commended this idea. They believed that there would be a large market about electronic dictionary in the country. So the group from business school decided to organize a new subsidiary called Zensa Company to develop this new product.
It highlights three important aspects that marketing accomplishes. First, it recognizes the purpose of business organizations to design products which satisfy customer requirements. Marketing does not just involve offering any goods and services but business organizations should strive to offer those which offer customer value.
However, this development could be attributed to a number of factors as going to be critically analysed in this study of Starbucks.
In attempting to analyse and evaluate the challenges in marketing luxury brands with reference to Starbucks, it is imperative to begin by
Their marketing skills and target market has earned them more enemies than friends meaning that the sales will go down. They segregate on the persons that purchase their products. In fact, many consumers are growing uneasy purchasing in these stores and would prefer
3 pages (750 words)Case Study
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