Broad Shifts in the Markets vs. Shift in Societal Force
Question:
Consider the broad shifts in marketing. Can they be related to the major societal forces? Which force has contributed to which shift?
Answer:
According to Kotler and Keller (2011), marketing is the ability of an organization to be able to meet the needs of its markets profitably. In the bid to profitably meet the needs of customers, organizations are considered to be continuously undergoing series of cycles in resonance with globalization, by ensuring that they are able to meet the expectations of their targeted customers, flexible enough to adapt to the changes brought about by the forces outside their controls, actions of their competitors that affect their products or services acceptance or rejection within the markets, having the right mindset of their customers’ needs and wants, among others.
As opined by Swanson and Kelly (2011), ‘many companies have recognized their customers as valuable assets and take steps to ensure that when service failures do occur, there are processes in place to respond’. As an example, Ashmart is an indigenous grocery retail chain that provides top quality products and services at discounted prices and guarantees an extraordinary shopping experience. Prior to Ashmart’s entry into the Nigerian market, an extraordinary shopping experience and low prices were mutually exclusive events. Following the proper grasp of the Nigerian Market, Ashmart did all within its capability to replacing high markups with low prices and guaranteeing an awesome shopping experience for its consumers. The company business model is summarized into a phrase mantra that says: ‘Shop Smart! Pay less at Ashmart!!’ Owing to Ashmart strategy in terms of consumers’ satisfaction, the retail chain has experienced consistent upward foot-traffics at a speed not known to the Nigerian business environment.
Kotler and Keller (2011) argued that: ‘Today the marketplace is radically different as a result of major and sometimes interlinking, societal
Consider the broad shifts in marketing. Can they be related to the major societal forces? Which force has contributed to which shift?
Answer:
According to Kotler and Keller (2011), marketing is the ability of an organization to be able to meet the needs of its markets profitably. In the bid to profitably meet the needs of customers, organizations are considered to be continuously undergoing series of cycles in resonance with globalization, by ensuring that they are able to meet the expectations of their targeted customers, flexible enough to adapt to the changes brought about by the forces outside their controls, actions of their competitors that affect their products or services acceptance or rejection within the markets, having the right mindset of their customers’ needs and wants, among others.
As opined by Swanson and Kelly (2011), ‘many companies have recognized their customers as valuable assets and take steps to ensure that when service failures do occur, there are processes in place to respond’. As an example, Ashmart is an indigenous grocery retail chain that provides top quality products and services at discounted prices and guarantees an extraordinary shopping experience. Prior to Ashmart’s entry into the Nigerian market, an extraordinary shopping experience and low prices were mutually exclusive events. Following the proper grasp of the Nigerian Market, Ashmart did all within its capability to replacing high markups with low prices and guaranteeing an awesome shopping experience for its consumers. The company business model is summarized into a phrase mantra that says: ‘Shop Smart! Pay less at Ashmart!!’ Owing to Ashmart strategy in terms of consumers’ satisfaction, the retail chain has experienced consistent upward foot-traffics at a speed not known to the Nigerian business environment.
Kotler and Keller (2011) argued that: ‘Today the marketplace is radically different as a result of major and sometimes interlinking, societal