Strategic Marketing in Uncertainty

Masters
Essay
Business
Pages 8 (2008 words)
Download 0
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…

Introduction


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 ...
Download paper
Not exactly what you need?

Related papers

Strategic Marketing College Essay
This decision is crucial because the competitiveness and viability of an organization are imperiled if it expends so much manpower and money on a marketing drive that warrants less. In the same vein, the organization will accomplish nothing if it spends less for the marketing of a product that requires more. The specific considerations include the newness or uniqueness of the product. If the…
Strategic Marketing Plan
Laura Ashley, the brand that originated from Welsh designer Laura Ashley, is a household name popularised by its colourful fabrics for clothes and home furnishings. Laura Ashley Plc. is a small family company with very specialised products spread in the Europe, UK and US. Started by the Ashleys in 1953 the company kept on embracing new products and companies and integrated vertically. The key for…
Strategic Marketing Dissertation
Firms with the weakest financial structure and lower credit rating, such as SMEs, suffer most. This is not the end of it, as companies big or small do have plans and different ways to face this crisis.…
Strategic Marketing in Uncertainty
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…
Strategic Marketing Planningfor SMEs in Zimbabwe
These are largely attributed to failures in the government's land reform programs that crippled the country's once prevailing agricultural sector. Against these, Small and Medium Enterprises (SMEs), which for the purposes of this study is defined as businesses with a maximum of 250 employees, have been seen as potential solution to the ailing economy.…
Strategic Marketing Assignment
(Zeithaml & Bitner, 2004; Daly, 2004). We Classification of industries or businesses facilitate some generalizations about appropriate marketing strategies for each classified group. The service sector has multiple varieties of businesses ranging from airlines, telecommunications to professional services to even one person businesses such as body masseurs. This multiplicity makes categorizations…
Strategic Marketing Master Assignment
These three elements form the basis of a marketing management audit. The following sections will explain how one can use the marketing audit to uncover the information one will need to shape one's eventual marketing activities.…