"The aim of marketing is to know and understand the customer so well that the product or service fits him or her and sells itself." (Drucker) Produce arguments for and against this statement.

Topics: Marketing / Pages: 3 (918 words) / Published: Oct 13th, 2008
In 1973, Peter Drucker stated "The aim of marketing is to know and understand the customer so well that the product or service fits him or her and sells itself." Considering that marketing is an exchange process between two parties which results in both customer and organizational satisfaction (Kolter & Keller 2006). It seems logical that, if a business is able to produce a product that is able to sell itself (i.e. does not require the assistance of a sales person) then marketing would be accomplished. That is, the customer acquires the product they are looking for, and the business gains its profits. However, Drucker further complicates the situation by saying this is achieved through "knowing and understand the customer well." This suggests that knowing and understanding customers needs is the only factor that matters.

Modern day marketers embrace the concept of finding the right product for their customers (Kolter & Keller 2006). Thus by identifying and pleasing customer needs this will lead to satisfaction of current customers and the attraction of new customers (Wangenheim & Bayón 2007). For example, when Sony invented its Play Station, Gillette its Mach III razor, and Nintendo its Wii all three companies designed a product that customers desired so much they were inundated with orders before the products reached retailers (Kolter & Keller 2006).

Furthermore, by dividing consumers into groups of people that share the same needs, businesses are able to concentrate their efforts contributing to marketing success (Kennedy 2000). In 2003 Starbucks and Pepsi found and exploited the gap in the market for ready-to-drink coffee products. This proved a successful venture for the businesses and they are now market leader in the industry. However, it was not as simple as identifying customers needs. Starbucks and Pepsi produced marketing campaigns that would enhance people 's awareness of the ready-to-drink coffee and waited for the demand to catch up to the market

References: est RJ (2005) "Market-Based Management. Strategies for Growing Customer Value and Profitability", 4th Edition, Pearson Prentice Hall, New JerseyHo SK & Choi ASF (2007) "Achieving marketing success through Sun Tzu 's Art of Warfare" Marketing and Intelligence Planning, vol.15, no.1, pp38-47Kennedy R, Ehrenberg A & Long S (2000) "Competitive Brands User Profile Hardly differ", MRS Conference, Brighton, March 17Kohli AK & Jaworski BJ (1990) "Market orientation: the construct, researchpropositions, and managerial implications", Journal of Marketing, Vol. 54, pp1-18Kottler PE & Keller KL (2006) Marketing Management: Chapter 1, 12th Edition, Pearson Prentice Hall, New Jersey. Levitt T (1980) "Marketing success through differentiation of anything", Harvard Business Review, January- February, pp.83-91. Pauwels K (2004) "How Dynamic Consumer Response, Competitor Response, Company Support, and Company Inertia Shape Long-Term Marketing Effectiveness", Marketing Science, Vol. 23 Issue 4, pp596-610Pepsi & Starbucks Case Study: Building & Defending a Strong Position in Ready-to-Drink Coffee (2005) "Pepsi and Starbucks case study" pp1-13Wangenheim F & Bayón T (2007) "The chain from customer satisfaction via word-of-mouth referrals to new customer acquisition", Journal of the Academy of Marketing Science, Vol. 35 Issue 2, pp233-249Woodside AG& Wilson EJ (1994) "Diagnosing Customer Comparisons of Competitors ' Marketing Mix Strategies", Journal of Business Research, Vol. 31 Issue 2/3, pp133-140

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