Marketing is the commercial activity involved in the promotion, selling and distribution of goods and services (Jim, 2011). Strategy is a complex and systematic plan of action. There have been changes in the way organizations are operated in today’s competitive environment (John, 2011). Technology and innovations are changing the operation of businesses. Information technology being led by the internet has enabled the potential and existing customers change the purchasing pattern. People are more knowledgeable and during to the invention of the electronic commerce (John, 2011). Global financial and economic crisis brought about the inventions of doing business in different ways to keep the business from collapsing. Electronic commerce has changed the process of doing business internationally (Steve, 2011). Marketing strategy is a process by which organizations compete for resources; to increase the sales of the products and services to sustain competitive advantage (John, 2011).
First-Class Online Research Paper Writing Service
- Your research paper is written by a PhD professor
- Your requirements and targets are always met
- You are able to control the progress of your writing assignment
- You get a chance to become an excellent student!
The customers of today have demanded faster business transactions. The challenge has in that customers are global. Satisfying the requirement of customers at the real time is particularly crucial (Philip, 2010). Businesses have grown beyond the borders. Business entities expected to adopt market trends. There are three principal changes that gave occurred in the recent past. There is the global economy emergence leading to financial crisis, the explosion of the information technology and finally the human desire to experience different products at their disposal (Philip, 2010).
Competition has detrimental; and exceedingly difficult. The environment has proved extremely competitive; and products are of the same quality. The political forces are instrumental in the marketing. Politicians amend the local laws. This has an influence in the consumption of the products and services, and political effects are not predictable and can bring success or failure to a business. Globalization has brought challenges in that potential customers have prevalence for different products. This has proved difficult in that they have to develop products depending to regions. Globalization has made the operations of businesses safe and at the same time complex (Jim, 2011).
There are two types of consideration. There is the local market and the global market. Global trade has been made possible and easy enough to the invention of the internet (John, 2011). The same internet has brought numerous changes ethical issues in society. There have been increased cases of hacking, phishing and many other scandals. This has made the internet a tool that cannot be relied on a hundred percent (Bill, 2011). The world has become unpredictable and full of unpredicted occurrences. The competition has become abundantly stiff from the emerging and re-emergence markets. The job markets have become extensive enough to availability of the online jobs (Rackety, 2011). Millions of people achieve their work over the internet at the comfort of their living rooms. This has changed the way business is done. Many organizations exist in virtual; meaning there is no physical location. Online Marketing is done exclusively through the internet. There are a number of online advertising and marketing of products (Philip, 2010).
Their trend of real time has emerged producing real time opportunities. The response of client’s queries is expected to be immediate. Customers are no longer willing to wait for the products, services and responses (Jim, 2011). The faster an organization responds to the needs of the customers the higher the competitive advantage. The speed of marketing products has increased over the years (Rajeev, R2009). There has been increased use of the social networking networks as marketing strategies. The commonly used social networking tools are the Facebook and the twitter. There are other social networking networks available in the market (John, 2011).
The internet has providd the marketing by Ads formats in different websites. This has enabled companies to promote their products all over the world. The Ads are public promotions for products and services (Ramkutty, 2011). There has been increased control by the publishers. There has been subscription to websites and limited audience. The registration at times requires some monetary value. The websites have become a source of revenue. The advertisers spend money to make their products advertised in the websites. The amount paid is commonly known as premium (George, 2011). This is an alternative means of advertising.
Advertisers have been in the recent years concentrated in the optimization. This has involved by the rate at which the advert is being accessed by potential clients. Optimization of the products and services has made products and services improve over the recent years (Jim, 2011). The websites have been tremendously influential on the privacy impact. This maintains the uniqueness of the product. There has been the need to maintain the privacy of the products and services. This is to avoid illegal duplications.
There has been increased closure of the traditional companies. The marketing challenge brought by the internet means that industries that used to advertise for other companies based on the obsolete technology has been forced out of the market. The pressures to digital marketing have increased over the years. There has been increasing blogging where customers and the producers exchange ideas of different topics of choice (Bill, 2011).
The marketing of real time has bought about the real time issues and challenges. The clients want the solutions to challenges faced solved immediately. Proper administering of the real time advertising and marketing increases the sales of the products and services and at the same prompts real time reactions to queries (John, 2011). The marketing through the social networking has gain popularity over the years. This is an invention that has made communication easy and affordable among the populations. There has been increased content marketing. This involves use of quality to attract more and more people. Taking a case, the Mercedes cars are well known to be tough and elegant (Philip, 2010). The quality perception makes it sell the products over years. Marketing involves identifying and meeting human and social needs (Ramkutty, 2011).
Many companies have embraced on research as a way to improve the products. The marketing has incorporated research as a means of attracting clients on improved products. Customers feel part of the product when their recommendations are incorporated in the future production of the product. The India dairy industry has experienced many changes over the years (Rajeev, 2009). There has been unpredictable future with tremendous competition and opened global market. The dairy industry in India has incorporated the changes and emerged as one of the exporters of the milk products on the world. Clients of today want various benefits for low payments (Business Expert Press, 2010).
Customers have different expectations for different products. Taking a sample of a supermarket; some people shop for quality, others for quantity, and others for the lowest prices among many others available choices. The customer’s needs are changing with time. Information technology emergent has brought about sophisticated customers who knows what they want and at what time (George, 2011). Companies feel the need to identify the needs of their clients. This is to sustain the future of the business. The competition has increase in the years. The customer’s needs are changing; and the best way to determine involves listening, questioning and confirming the claims lodged by clients (Philip, 2010).
The delivery of services and products is all about meeting the expectations of customers. The clients demand products and services; that operate on the first time (John, 2011). The clients are expecting increased discounts at low values. The people demand quality products and services that are available at their doorstep. This has changed with time (Rajeev, 2009). Real time products and services are needed by the clients at the very moment. The clients are expecting to be served with care and diligence. This comes with according him/her the time needed to make the choice. The clients have the expectation of you, company and the industry. Past exposure with other distributors plays a significant role in the clients’ choice (George, 2011).
Customer loyalty has a crucial role in the maintenance of customers. Loyalty develops a relationship with clients on the business (Philip, 2010). The clients expect to be served correctly and in the right perspective. The clients expect to be answered all questions concerning the products and the products. Customers are after equity, justice and respects. Customer needs and expectations are divided into the need to be understood, welcomed, and valued and finally the necessity of comfort (Ramkutty, 2011).
Rater scale identifies the different categories of customers in reference to wants and value. Customers demand: reliability, assurance, tangible results, empathy and timely responsiveness (Bill, 2011). Companies have devised different ways to identify the customers changing needs. The standard one involves: letters of complaint, warranty claims, focus groups, market surveys, statistical reports, staff surveys, contacting clients and finally test marketing products in the market. The current market demands organizations to manage customer’s expectations beyond the expected rates.
Innovative marketing strategies have forced organizations to change their culture. This never happens overnight; and the process takes time (Jim, 2011). The culture of innovation has been enhanced by many organizations by providing research. Research brings the search for news knowledge (Steve, 2011)... This has been attributed by the continuous evolution of the customer needs. Innovative marketing has been involved in a number of concepts; there are the product and service marketing, pricing, distribution, retailing, branding, ethics, effectiveness, segmentation, strategy and general operations (Bill, 2011).
Innovative marketing is based on market dominance, porter generic strategies, innovation strategies and development strategies. Innovative marketing strategies address needs of clients. The processes are evolving with time. There has been increased strategic models and real life marketing (Business Expert Press, 2010). Innovation has increased in the recent years. The internet has made the answers to any questions at our hands. The increased ability for people to communicate free has enabled the behavior pattern of people to change with time. The consumer trends have significantly changed over the years (George, 2011). The changes in the consumer have forced many organizations to modify the method of leadership in their products and services. Ignoring the changes indicates that the company will diminish with time. Organizations based on the traditional system are vanishing at an alarming rate.
In conclusion, the competition and changing business environment has forced organizations to adapt and establish way forward (Bill, 2011). The marketers have been forced to understand the needs of the customers. The time of waiting for the clients has faded away. It has become the responsibility for organizations to search for the clients. Organizations have the responsibility of staying ahead of the competition to manage to keep the business afloat. The principal change has been brought by the changing technology. This evolved the purchasing patterns of many clients. People have become enlightened on the available products in the market making it difficult to trap permanent clients (Rajeev, R2009). This has forced organization find ways of retaining current clients and at the same time fish potential clients.
Free Essay Sample «Marketing and Strategy»