Gronroos (1994) has criticized the tenets of the Four Ps of marketing which according to him is a weak perspective altogether that has several negative implications on various critical aspects of marketing such as research and application, the limitations of traditional marketing approaches such as the Four Ps of marketing have also been recognized by Bitner (1991) who like Vargo & Lusch (2004) believes that conventional marketing concepts such as the Four Ps of marketing have contributed towards limiting the scope of marketing by asserting that decisions related to a product can be described in merely four dimensions. Owing to the limitations of traditional marketing concepts as identified by Gronroos (1994), Hutton (1996) presents a need to include public relations and politics in as relatively newer dimensions of the Four Ps. Several researches and literature conducted since the 1990s and even earlier, indicate that marketers must incorporate modern perspectives with traditional views to cater to the consumer of today. This view is greatly highlights the benefits of moving towards contemporary approaches and logics to marketing, the most important of which is the concept of relationship marketing (Gronroos, 1994; Vargo & Lusch, 2004). According to Berry (1995), relationship marketing aims to focus more on the approach of retaining existing customers rather than utilizing a majority of the organization’s resources in the pursuit of attracting new customers. The importance of customer retention is so vital to the progress of an organization that a study conducted by Reichbheld & Sasser (1990) concluded that even if an organization is able to increase its customer retention rates by 5 percent; such a move reflects enhanced customer loyalty which directly correlates to an increase in profits between 25 to 125 percent. Hennig-Thurau et al. (2002) noted that aspects such as customer satisfaction, customer loyalty and commitment are integral factors contributing successfully to the concept of relationship marketing. Gronross (1990) supports this view by suggesting that as a discipline marketing concerns itself with the management of relationships, a tenet which is needed more importantly in the service sector, and the commentator postulates that in a context where tangibility of products and goods is non-existent, traditional concepts of marketing cannot effectively deal with the issues related to service-related businesses. An intriguing view of modern marketing has been presented by Edgett & Parkinson (1993) who claim that traditionalist marketing approaches maybe equally effective in service sector marketing, where customer-orientation and customer relationship management is the primary focus. Krueger et al. (2003) on the contrary argue that technological advancements and the wide-spread popularity of the Internet across the globe, has contributed towards changing business dynamics an example of which is the availability of legal online music. It is argued that with regards to the marketing of goods, an
“Modern marketing now juggles two competing philosophies. The first is the transaction approach epitomised by the ‘Four Ps’ of marketing: product, price, place and promotion. The second approach is known as relationship marketing, which emphasises building relationships with customers over time…” (Tapp, A…
Digital Marketing Table of Contents Levi Strauss & Co: Organizational background 3 Market, products & services, customers, digital presence 3 Importance of customer insight from key words research 5 Utilization of Search Engine and Pay per Click in Organization 6 Rationale for e-marketing tools 7 Aspect of Digital Marketing Campaign Legislation 9 References 10 Levi Strauss & Co: Organizational background Levi Strauss & Co.
In contemporary business context, the wide spread use of bar codes for most commercial products, the computerisation of many business and government transactions, and the advances in data collection tools have provided us with huge amounts of data at unprecedented rates.
tal marketing control the one-of-a-kind and dynamic features of interactive media: shopping and purchases can be carried out online; services can be customized or personalized to suit individual customer; it facilitates communication; and through interactive media each customer
This essay discovers the digital marketing of sport brands. Creative marketing strategy, innovation and new business design largely contributed to the success story of the “adidas Group.” Customers, suppliers and competitors as well as a number of other factors that are not central in the traditional business models affect the day businesses.
Organizations can produce their products but cannot promote or introduced them to their potential customers without the use of marketing (Slater, Hult, & Olson, 2010).There are many methods of marketing, and direct marketing is one of them. During
The shop option on the dashboard makes it easier for customers to go straight to the category that they want to buy. This helps in saving time and making the process convenient. The website even makes it easier for customers to find items made by a specific