CHAPTER 0NE: ANSWER
The definition of marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Furthermore, it is more than just “telling and selling” because the marketing now is in the sense of satisfying customer needs. This means if the marketer understands consumer needs and develops the products that provide superior customer value, prices, distributes and promotes them effectively, these products will sell easily. According to management guru Peter Drucker, state that “the aim of marketing is to make selling unnecessary”. In addition, selling and advertising are only part of larger “marketing mix” which means a set of marketing tools that work together to satisfy customer needs and build customer relationships. QUESTION TWO:
There are five trends impact the marketing such as Uncertainty Economic Environment, The Digital Age, Rapid Globalization, The Ethic and Social Responsibility and Growth of Non-for-Profit Marketing.
The uncertainty economic growth is the faltering and uncertain economic caused many consumers to rethink their spending priorities and to cut back on their spending. Second is the digital age which is recent technology boom which is created. The explosive growth in computers, communications, information and other digital technologies has had major impact on the ways company bring value to their customers. Third is rapid globalization, which is defined as the marketers taking a fresher look at the ways in which they are related with the broader world around them. In an increasingly smaller world, companies now connected globally with their customers and marketing partners. Forth is ethic and social responsibility. The marketers are reexamining their relationships with the social values and responsibilities. Every company action can affect the customer relationships. Today’s customers expect companies to deliver...
Please join StudyMode to read the full document