An organization that focuses on the consumer or on the market must determine the desires of the potential consumers and then develop the service or product based on the results.
At this point, the two important marketing factors are the acquiring or recruiting of fresh customers and the expansion and retention of the buying relationship with the customers that are already in existence. The following are important under marketing theory and concepts.
The variables that normally operate within and without the business operating environment influence the marketing strategy indirectly or directly. For an organization to be successful, it must be in a position to understand and also anticipate the changes that are taking place within the business environment. The organization must thereafter take advantage of these changes. This is what gives the business a competitive advantage. The marketing environment consists of the internal and external factors.
An organization has to employ the sufficient and competitive staff to carry out the business activities. The employees must also be well motivated as part of the organizational strategic plan. ...Show more