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Marketing - Essay Example
Marketing is considered to be one of the pillars of the modern business practices and the theories related to the respective field. Till the middle of the past century, the idea of marketing was limited to the management and accumulation of all the marketing operations in an organization. …
However, the increasing demands of the recent market trends have compelled marketing practices to be focused on the attainment of competitive advantage in the markets. It is due to this transition that marketing has begun to be considered as a strategic management tool to devise and attain long term objectives of the organization. The attainment of goals is possible if the demands of the customers are met and they are ensured that the services and products will be delivered to them in an effective and reliable manner (Kotler et al., 2008). Therefore, it becomes evident for companies to understand their market segments and customers’ demands to ensure that successful businesses are run and they are able to deliver better products and services than their competitors.
Fulfillment of customer’s needs is one of the most studied aspects of marketing. Hill et al (2003) explained that customer satisfaction is the degree of fulfillment of the customer’s requirements by an entire product or service from an organization. Customer satisfaction is considered to be the factor that provokes customers to be loyal with their brands and convey a positive image of the company in front of other consumers. Loyal customers can prove to be good publicists for companies. Loyal customers are important assets for any organization since they do not switch brands due to price differences and promotions from the competitors. ...