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Strategic Marketing in Uncertainty
Pages 8 (2008 words)
This paper provides an insightful study into the effectiveness of post-modern marketing approach in providing assistance to the marketers in conducting marketing activities under uncertain situation. Uncertainty is a feeling that every contemporary business needs to confront with in almost all the markets.
The modern approach to marketing activities is changing its emphasis from the traditional marketing mix (product, price, place, and promotion) to the conception of relationship marketing. The practicability and flexibility of the relationship marketing approach have led to the rapid evolution of this concept in the modern marketing activities. Veloutsou et al. (2002, p433) also assert that, "it is currently acknowledged that RM represents a paradigm shift in marketing".
Relationship marketing approach emphasises on mutually beneficial relationships between the organisation and the other members of the environment so as to create long-term ties among these groups. Gronroos (1994, p355) posits that relationship marketing "is to establish, maintain, and enhance relationships with customers and other partners, at a profit, so that the objectives of the parties involved are met. This is achieved by a mutual exchange and fulfilment of promises". Hence, relationship marketing focuses on fostering the mutual relationship of an organisation with its customers, suppliers and other firms in order to meet the objectives of all the parties as they enter into an exchange with the company.
In the modern dynamic environment, companies are no longer seen as indifferent from the influence of oth ...
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