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Modern marketing now juggles two competing philosophies. The first is the transaction approach epitomised by the 'Four Ps' o - Essay Example

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Masters
Essay
Marketing
Pages 6 (1506 words)

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Marketing Name Institution affiliation Tutor Date Marketing The evolution of marketing has been significant in shaping the way in which business make decisions on their marketing strategies. According to Tapp (2005) the development of marketing tools has complicated the approaches organizations use in selecting marketing strategies…

Extract of sample
Modern marketing now juggles two competing philosophies. The first is the transaction approach epitomised by the 'Four Ps' o

The ancient marketing strategies include direct marketing, the use of free samples, media marketing, sales representatives and Corporate Social Responsibility. In words by O'guinn (2008) the ancient marketing strategies form the basis from which development of marketing is achieved. The above factors shape the two major philosophies of marketing. The two are different in terms of their approach to the consumers. The transactional approach detects its target market then strategically pleases this specific group of consumers while the relationship approach is a generalized approach to the market (Howard, 1997). The approach seeks to impress the entire market by creating stable market with the society. The approach to marketing uses the implementation of the 4p’s of marketing. They are the price, product, place and promotion (Plunket, 2008). The price refers to the pricing of the commodity at a price that is suitable to the consumer are also gather the required profit. The product refers to the quality of the product supplied to the market and its presentation to the market (O’guinn, 2008). The place refers to the most suitable location for the sale of their products depending on the nature of the population or a particular area. ...
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