The Importance of Marketing for Business

College
Essay
Marketing
Pages 5 (1255 words)
Download 0
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…

Introduction

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 papers

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…
Business to Business Marketing
Considering these facts, this paper intends to include the nature of the Business to Business marketing along with its related fields so as to provide with a comprehensive description of the concept. Nature of Business to Business Marketing 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…
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…
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…
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…
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…
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…