Exchange Relationship

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Exchange Relationship
BUS 620

Marketing is a social process involving the activities necessary to enable individuals and organizations to obtain what they need and want to exchanges with others and develop ongoing exchange relationships. Many companies, especially industrial-product companies, lag in customer orientation, which increases the likelihood of “hard sales”. This paper addresses some issues facing companies who must market products that may not be an “easy sell”. Marketing

Marketing is the act of promoting and planning the advertisement of a good or service. Marketing allows companies to make themselves known to the public. Although the ultimate goal of marketing is to target products to customers who are ready to buy, sometimes products or services require more marketing effort to draw interest from the customer. If required, then marketers need to be more creative with ideas until the company is able to change strategic direction or the market returns. In a recovering economy, nothing is more important than attracting new customers and retaining your current ones. Companies need an in-depth understanding of its customers—who they are, what they’ve bought from you in the past, what they might need in the future—to build loyalty, get repeat sales, and appeal to a broader target market. Mullins & Walker (2010) states that “the market consists of individuals and organizations that are interested and willing to buy a particular product to obtain benefits that will satisfy a specific need or want, and who have the resources such as the time or money to engage in such transactions.” Therefore, companies try to create value satisfying goodness and services that consumers will want to buy. Levitt (1975) states “in order to produce customers, the entire corporation must be view as a customer creating in customer satisfying organism.” What it offers for sale should include not only the generic product...
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