Changing Marketing Paradigms : Issue and Challenges
Topic:
Changing Marketing Paradigms : Issue and Challenges
Date: 23/11/2009 Submitted by-
Ravindra, Raghav Mishra, Parijat Singh
Marketing is a "social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others." It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the last decades. Companies then shifted the focus from production more to the customer in order to stay profitable.
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
Marketing Paradigm
A marketing paradigm defines the way marketing is being done by means of a set of procedures and attitudes.
The traditional marketing paradigm
Although marketing may have the same age as civilization itself, when talking about modern marketing as an applied art, the 1960s and 70s must be considered the beginning, in consumer markets where relatively low-valued products were sold to mass markets using mass media. Determining first the customers’ needs, and producing after that a product or service able to satisfy these needs were the most important aspects of the marketing theory based on the
Changing Marketing Paradigms : Issue and Challenges
Date: 23/11/2009 Submitted by-
Ravindra, Raghav Mishra, Parijat Singh
Marketing is a "social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others." It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the last decades. Companies then shifted the focus from production more to the customer in order to stay profitable.
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
Marketing Paradigm
A marketing paradigm defines the way marketing is being done by means of a set of procedures and attitudes.
The traditional marketing paradigm
Although marketing may have the same age as civilization itself, when talking about modern marketing as an applied art, the 1960s and 70s must be considered the beginning, in consumer markets where relatively low-valued products were sold to mass markets using mass media. Determining first the customers’ needs, and producing after that a product or service able to satisfy these needs were the most important aspects of the marketing theory based on the