According to silk(2006,pg.23) “In general terms marketing refers to what an organization must do to create and exchange value with customers”.To be successful in marketing, a deep knowledge of customers, competitors and collaborators is necessary. The central role of marketing in the enterprise stem from the fact that marketing is the process via which a firm creates value for its chosen customers. Having created the value for its customers, the firm is then entitled to capture a portion of that value through pricing. Marketing is both philosophy of business as well as business function, a state of mind concerning the optimum approach to business, and the activities whereby such ideas are translated into practice. As per Viardot ,(2004,pg 56)“Marketing means “putting on the market”. Therefore the purpose of marketing is to act in such a way that company places on the market products that correspond to demand and satisfy needs and wants of the customers at an acceptable return” For example in marketing for a hotel firm, the nature of tourist arriving to a particular city is analyzed first. According to that a survey is conducted as to the purpose of their visit .A hotel firm will design their products and services according to the needs and wants of their potential customer. ...Show more
Marketing helps a company in searching appropriate markets, in building and sustaining competitive advantage in those markets and, and in managing the relationship with all the important stakeholders belonging to those markets. …
Moreover, it was in my personal capacities that I observed the greatest changes. I tend to move towards courses that introduce me to new concepts and force me to re-examine any old beliefs that may not be authentic. This is why the course on financial service marketing was so intellectually stimulating for me.
Competitive strategy employed and must be properly designed, particularly to small businesses (worldwide) attempting to capture a wider market.
Kotler (2005, p.191) stated out that the central question for marketers is: 'how do consumers respond to various marketing stimuli that the company might use' Kotler (2005 shares similar ideas and states that a consumer's buying behavior is influenced by cultural, social, personal, and psychological factors.
Understanding customer needs and experiences would be related to marketing orientation and both the construction companies and consumer goods companies would be focused on providing the best services to the customer. Within the construction marketing framework and the consumer marketing framework, there is a need for delineating company vision, customer segmentation and focus, benchmarking and identifying distribution channels.
This has brought into focus the results of being customer oriented and the benefits a company could derive out of it. A number of methods to rate market orientation have been studied and the same has been used to identify easy rating needs of companies. Methods such as Kohli, Jaworski and Kumar (1993) orientation scale and that of Narver and Slater (1990) are quite well known.
It has become the life blood of an organisation in terms of enabling the business to function in this extremely competitive environment of modern day world. Marketing virtually affects all areas of the organisation’s operations through a concept called
ct choices that cannot be proved or validated” (Shamir and Eilam 2005:395)..The main focus of this report it will be seen that to what extent leadership is an “influencing’ force as Northhouse (2004) has stated that ‘Leadership is a process whereby an individual
Despite the differences among business in the global landscape the marketing profession is able to categorized firms into five categories. These categories provide a conceptual idea of what the company is dedicated too and what is its market orientation.
In a study involving the interaction with a group of 153 high-tech CEOs, first surveyed in 1998 and again subsequently surveyed early in 2001, it was observed that both pro-activeness and innovativeness were weakly positively related to employment growth and innovativeness was positively related to turnover growth.