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Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return
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Introduction
Marketing is an important and controversial issue due to several people has variety expression of marketing and it contains numerous activities than most individuals recognise (Kotler, Shaw, FitzRoy & Chandler, 1983). Further, it can be study in different ways and reasons, such as for research, academic use, and business purpose, typically, one of vital purpose of study marketing is to understand marketing as a business philosophy (The Marketing Association of Australia and New Zealand, 2005). The village “gold class” cinema is cinema which provides luxury services to customers during the cinematic experience, specially the customer can enjoy the golden first-class treatment, such as, luxury seats, sophisticated technology, and full services with food, bar, lounge and even personal waiters (Village cinema, 2013). The gold class of village cinema relates to market and customers so that the purpose of this essay is to use the example of village gold class cinema to analyse the following three aspects: meaning and definition of marketing as a business philosophy, customer value in marketing and the link between customer values and marketing.
Marketing
To begin with, the definition of marketing has different explanation for different individuals so it is highly controversial (Kotler et al., 1983). The Marketing Association of Australia and New Zealand (2005) also states that there are diverse description of marketing and the concept of marketing is different from earlier time which is more restricted to present time which is boarder. However, it is comment that although in the different time period the concepts of marketing is different, the key points such as understand customer wants and needs will always expected rel...
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...ty services desires from customers so the objective of this “gold class” marketing is to achieve personal or societal objectives by creating outstanding customer value. Apparently, the link between marketing and customer value is close-knit and they are interrelated with each other.
Conclusion
Marketing and customer value have variety definitions, still it is clear that marketing is activity occurs then to satisfy needs and wants though exchange process. Furthermore, in order to determine the desires from customers the framework of customer value suggests the benefit and sacrifice of purchasing products so that assist develop marketing strategy. As a result, the customer value and marketing are interrelated and associated with each other. The village “gold class” cinema suitable for many types of value and those values are useful for developing marketing strategy.
A characteristic of the marketing concept is customer orientation. Business activities are mostly engaged to produce a satisfied customer. They are there to Stress on the desires and wishes of a customer this keeps businesses on track with their target market. The best marketing decisions are completed on the foundation of making a massive impact in the market and towards customers. The consumers/people
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
Churchill, Jr., Gilbert A., and J. Paul Peter. Marketing: Creating Value for Customers. Burr Ridge: Austen Press, 1995.
The type of marketing management philosophy employed by the Geoffrey B. Small Company is the societal marketing orientation. While working on providing for the customers’ needs and wants they are also concerned for the customers’ and the society’s long term concerns. They are conscious for quality and material so that they do not provide inferior material while charging for superior products but they are also concerned for the environment. They are thinking of giving back to the society in the long term in every
This research seeks to reveal the importance of marketing strategies in today’s complex and competitive business world. For this reason, this study will discuss various theories, issues and approaches of the marketing linking them with W.L. Gore & Associates and thereby propose the best options, ideas, strategies and techniques for the improvement of the company. To reach the points, this study will especially collect secondary and qualitative data and information.
Customer Value is a very important factor to all businesses let along business that supply products or services to the public. Value is relative to each individual customer but many researchers have found a simple way of defining customer value. Customer value equal the result produced for the customer plus process quality divided by the price to the customer plus the costs of acquiring the product (McMurrian & Matulich, 2016). The customer must purchase the product or service and experience it for the company to be able to benefit from the feedback. The four mechanisms within customer value, the results, process quality, price and customer access cost, are all very important for a company to understand in order to fully understand customer value.
The marketing concept's ultimate goal in essence is to satisfy an organisation's clientele, while at the same time enabling the company to survive and prosper. It stresses consumer-orientation in all facets of a company's operation. It also emphasises adoption of a cross-functional perspective so that everyone within the organisation can have some impact on the organisation's success in both the profitability and at the consumer level. (Zikmund / D'Amico 2002)
Integration of value propositioning with the various segment groups plays a key role in the final outcome of any brand and its products and services. It gives the consumer a reason to buy from a particular brand.
Marketing has evolved since the olden days when people used to trade with goods for goods. This led to the introduction of the trading centers where people could go and exchange their goods with others and mostly the agricultural products. The theory of marketing explains how the market came into existence and the various means in which the marketers, the producers, the sellers and the consumers ensure total satisfaction. In this essay different subjects concerning the fundamentals of marketing theory have been discussed and how they affected the traditional market and the present market.
Customer value is an organization’s rating of the value it provides to its customers relative to that provided by its competitors. It is the critical part of relationship marketing, achieve the customer satisfaction is the prime goal of the marketers and organization’s long-term goal is achieving through satisfying customer needs, then make profit for companies. It needs to be seen from the customer’s viewpoint to in terms of the value s/he see in interacting with the organization. Interaction by the definition should be a two way process. However, the choice to interact with an organization rests solely with the customer. Organization must be customer centric. E.g. Food town card is a standard discount care for Food town’s customer.
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
Marketing is a well known act and process used by many businesses and brands to effectively sell their product or service. Marketing can be defined as a management method which creates the exchange between concepts or ideas to the customer. The four elements known as the four P’s of marketing are product, price, place and promotion. A product is selected and developed, followed by identifying a price determined by the company. A distribution medium is selected in order to enhance the reach to the place of the customer. The promotional strategy is designed and applied lastly so that it will further reach to the target audience. For this, a marketing strategy can be considered as the plan for contacting people and transforming them to become
In recent times, the broad nature of marketing has lead to acceptance of the following definition. “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals” (Czinkota et. al, 2000, pg. 8). Simply, modern marketing includes everything from conception to consumption of an idea.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.