Marketing Strategies for Today's Successful Business
Atavia Vigil
Case Study One
1. What is the correlation between today’s successful companies and marketing? The correlation between today’s successful companies and marketing is that the successful companies cater to their customers. This creates a positive relationship between existing customers while also gaining new customers through recommendations, reviews, etc. Successful marketing creates successful companies because the company and the customers are both gaining value equally.
2. What is the relationship between customer expectations and satisfaction...explain? The relationship between customer expectations and satisfaction is an extremely imperative aspect for a company to focus on if it wants to be successful. If a customer has high expectations about a company than the customer believes that the company will hold true to its values and what they claim to deliver. When customers’ expectations are met the company is highly valued by the customer and usually results in the customer spreading good word about the company. This creates more customers and more value on the consumer as well as the distributers end.
3. What is marketing myopia and give an example of a company that has exhibited marketing myopia? How? Marketing myopia is when a company is more concerned with selling their product instead of being concerned with building a positive relationship with the consumer. A company that has exhibited marketing myopia is Pillsbury. In their customers they only exhibit women cooking. This creates a conventional view of the company that shows only women cooking. Their products should be targeted to both genders instead of attempting to sell products by just appealing to women.
4. Give an example of each of the following marketing management philosophies and explain how
Production- The production concept believes that customers value products that are affordable as well as easy accessible. An example of this are companies who their production process overseas.
Case Study One
1. What is the correlation between today’s successful companies and marketing? The correlation between today’s successful companies and marketing is that the successful companies cater to their customers. This creates a positive relationship between existing customers while also gaining new customers through recommendations, reviews, etc. Successful marketing creates successful companies because the company and the customers are both gaining value equally.
2. What is the relationship between customer expectations and satisfaction...explain? The relationship between customer expectations and satisfaction is an extremely imperative aspect for a company to focus on if it wants to be successful. If a customer has high expectations about a company than the customer believes that the company will hold true to its values and what they claim to deliver. When customers’ expectations are met the company is highly valued by the customer and usually results in the customer spreading good word about the company. This creates more customers and more value on the consumer as well as the distributers end.
3. What is marketing myopia and give an example of a company that has exhibited marketing myopia? How? Marketing myopia is when a company is more concerned with selling their product instead of being concerned with building a positive relationship with the consumer. A company that has exhibited marketing myopia is Pillsbury. In their customers they only exhibit women cooking. This creates a conventional view of the company that shows only women cooking. Their products should be targeted to both genders instead of attempting to sell products by just appealing to women.
4. Give an example of each of the following marketing management philosophies and explain how
Production- The production concept believes that customers value products that are affordable as well as easy accessible. An example of this are companies who their production process overseas.