Essay Example on Marketing is a spontaneous change in Strategies

Subcategory:

Category:

Words:

296

Pages:

1

Views:

41

Marketing is a spontaneous change of strategies because of new inventions and ideas every day It is a race of who can produce a good quality product and also attain a good number of consumers The concept of 4Ps has been criticised as being a production oriented definition of marketing and not a customer oriented Popovic 2006 Consumers are no longer merely passive recipients in the marketing exchange process Today they are taking an increasingly active role in co creating everything from product design to promotional messages Berthon Pitt McCarthy and Kates 2007 As recently as two decades ago most manufacturers of consumer products considered communication with the final customer as one of their essential marketing tasks Constantinides 2006 4P s do not offer help for personification of marketing activities The mix does not mention relationship building which has become a major marketing focus or the experiences that consumers buy Goi 2009 



The relevance of Four P s in today's world is incredulous It was originally developed for consumer packaged goods marketing where Transaction style marketing also known as traditional marketing was the most appropriate Grönroos 1997 as communications during that time was very poor and packaged goods did not require services or a one to one interaction with the servicemen or employees But the present day markets are compelling the firms to form a Relation based link with the customers is of sheer contrast to the traditional Four Ps which was based on one transaction at a time The definition of relationship marketing given by Xavier Vence Deza an economist in 2002 is that Relationship marketing aims at creating a client relationship from the start to satisfy and retain existing customers while transactional marketing tries to make the sale and find new customers Four P s do not take sufficient account in building a long term relationship between industrial buyer and seller Zineldin and Philipson 2007 which has very little reliability in the present times With the increasing number of firms in the market and the sky rocketing level of competition it is very necessary for every firm to sustain their customers and place One can say that service type relationship with the customers has a greater and better impact on them as they pay more emphasis on satisfying customers preventing defections and building long term relationships Webster 1994 The marketing mix was first ever introduced by Neil Borden in 1949 



According to him When building a marketing program to fit the needs of his firm the marketing manager has to weigh the behavioural forces and then juggle marketing elements in his mix with a keen eye on the resources with which he has to work Borden 1964 But the Four P's of marketing namely Product Price Promotion and Placement were given by E Jerome McCarthy in 1971 Many different other theories were introduced after this in the last few decades due to the diminishing applicability of these in the recent markets It was suggested that the initial marketing mix elements are variables which can be changed differently in separate situations according to the firm s creativity Zineldin and Philipson 2007 and form strategies to gain a better audience and generate a bigger profit Bernard Booms and Mary Bitner built a model consisting of Seven P s 1981 This model holds a greater pertinence with today s marketing scenario as it includes human and service elements as their variables Raising the levels of overall customer satisfaction has to with an addition or improvement in the service elements and all of this is directly proportional to greater profits A segment that has recently come in limelight but has become one of the key elements in boosting customer satisfaction is Personalisation Goldsmith 1999 also giving rise to the Eight P's of marketing Since the last couple of decades the marketing scheme has in a way propelled the firms to focus on small target groups to fulfil their personal demands Nowadays a lot of shops and boutiques have started providing Custom made services to its customers 



Each customer here is treated as an individual rather than as a member of a target segment as companies work to fulfil their specific needs and deliver a customised product Hof 1998 because this increases customer satisfaction and as mentioned earlier this in turn increases profit The Internet has played a huge role in promoting Personalisation where customers are targeted in a framework of individual relationships on platforms such as Online shopping A survey shows that the shoppers made 51 of their purchases online in 2016 compared to 48 in 2015 and 47 in 2014 Farber 2016 This clearly conveys that the total number of people shopping for goods online has tremendously increased over the years which again disregards the use of the traditional model of marketing the 4P s in today s span of time as it's vital elements like Placement and Promotion become fairly irrelevant It is interesting to note that Personalisation leads to a completely distinct positioning of the companies into extremely dissimilar frameworks which separates it from its competitors In fact brands also begin to symbolically represent different personalities and lifestyles Goldsmith 1999


Write and Proofread Your Essay
With Noplag Writing Assistance App

Plagiarism Checker

Spell Checker

Virtual Writing Assistant

Grammar Checker

Citation Assistance

Smart Online Editor

Start Writing Now

Start Writing like a PRO

Start