Got a tricky question? Receive an answer from students like you! Try us!

The Importance of Marketing for Business - Essay Example

Only on StudentShare
College
Author : casandralowe
Essay
Marketing
Pages 5 (1255 words)

Summary

Table of Contents Introduction: 3 The importance of marketing to businesses: 4 Helps businesses create value for customers: 4 Helps businesses create lasting relationships: 5 Relating Directly: 5 Social CRM: 5 Business to Business (B2B) relationships: 6 Capturing Value from customers: 7 Customer loyalty and retention: 7 Growing share of customer: 8 Recommendations: 8 Works Cited 9 Introduction: The importance of Marketing to a business in the modern business era can be best understood with the example of Nike…

Extract of sample
The Importance of Marketing for Business

But Nike’s marketing success has more to it than just promotional hype. Nike gives its customers far more than just good sports gear. They make sure the customer doesn’t just wear his Nikes, he experiences it. Nike doesn’t just market sports shoes or athletic wear; it markets a way of life (Kotler). The Nike examples proves that through smart and innovative marketing businesses can create value for customers, build strong customer relationships and capture value from them in return. The importance of marketing to businesses: Helps businesses create value for customers: Marketing helps a business in creating value for its customers. Most companies today implement customer driven marketing strategies which allow them to create value for target customers. The process can be better understood through the following diagram: 1 Companies today identify and select marketing segments, develop products and marketing programs targeted to each and focus on the buyers who have more interest in the values that they create the best. ...
Download paper
Not exactly what you need?

Related Essays

Business to Business Marketing
The company under question Cloud Creative Solutions Ltd. is found to work more based on the tool of personal selling while reaching the goods and services produced to the customers. Other than focusing on personal selling alone the company can also render focus on a large number of other marketing communication tools while marketing its different services conducted in the marketing sphere. The different marketing communication tools consist of both traditional means and also other sophisticated modes which depend on the use of internet and digital media. Traditional tools of marketing…
12 pages (3012 words)
Business to Business Marketing
The paper tells that the Business to Business marketing is rigidly structured in nature, i.e. it is less flexible in comparison to the Business to Consumer market. As the consumers, in this context, are business people having higher bargaining power, the company who is involved in this section needs to put more effort to attract the customers. To attract the customers, personal selling is more preferable rather than advertisement in this type of marketing, as the organizations rarely pay attention to the advertisement. The customers in this context are mostly organizations themselves and tend…
4 pages (1004 words)
Business to Business Marketing
The company is based in Cambridge, United Kingdom and employs around 25 staff. Business-to-business relationship plays a major role in the long run. During the periods of economic downturn also business relationships have proved to be extremely helpful to an organisation by minimising the amount of threats and uncertainties in the business. The objective of the paper is to analyse the marketing mix concept in terms of Triangle Creative Ltd (TCL) and to evaluate which marketing mix approach would be more effective in the business-to-business sector for TCL. Certain suggestions have also been…
12 pages (3012 words)
business to business marketing
t climate, while still cost cut. In addition the sales team need be organised based on customers and products. 1.0 INTRODUCTION Over the past two years most small and medium businesses have been badly impacted by the recent economic downturn with TCL not having been spared from the impact. During this period most businesses are cutting costs in order to remain competitive in the business, this grossly affects TCL’s business as its revenue stream is mostly reliant on the marketing budgets that companies set. Over the past year, with reduced business, TCL recorded a drop in revenue by 25%, and…
12 pages (3012 words)
Business to business marketing
3). Most of the large firms which produce goods such as production, steel and equipment along with computer memory chips cater to the business market customers and the organizations do not directly interact with its customers. The introduction of the laser printers along with the personal computers had brought HP which was a B2B marketer into consumer market. Conversely, Apple strength has also extended towards the business market as its iPad were being used or tested in more than 75% of the fortune 500 companies just after a month of its launch. Corporate using iPad includes J.P. Morgan…
11 pages (2761 words)
Digital Marketing: The Importance of Social Media
Social media marketing has become an important strategy for promoting businesses and products. Many companies are increasingly adapting to the social media, especially in the wake of the current technology revolution in the world. The widespread use of social media can enhance marketing initiatives by drawing the marketing mix closer to the technology users who basically comprise the consumer base and prospects. Social media is developing at a rapid pace due to the integration of new technologies into human culture. This paper explores the impact of social media, and how it can be transformed…
10 pages (2510 words)
IMPORTANCE OF RELATIONSHIP MARKETING
Apart from trust and commitment that are given focal importance in relationship marketing, there are other factors such as communication, loyalty and satisfaction that play key role in relationship marketing. Moreover, each factor lends support to other factor finally leading to success of relationship marketing. Therefore, based on the stated role of these factors relationship marketing literature asserted due importance; hence, guiding marketers to address in large to gain the successful relationship marketing (Østergaard & Fitchett, 2012). …
7 pages (1757 words)