Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The marketing concept had three part: A customer orientation. Find out what consumers want and provide it for them. (Note the emphasis on meeting consumer

image text in transcribed

image text in transcribed

The marketing concept had three part: A customer orientation. Find out what consumers want and provide it for them. (Note the emphasis on meeting consumer needs rather than on promotion or sales.) A service orientation. Make sure everyone in the organization hS the same objective: customer satisfaction. This should be a total and integrated organizational effort. That is, everyone from the president of the firm to the delivery people should be customer-oriented. Does that seem to be the norm today? A profit orientation. Focus on those goods and services that will earn the most profit and enable the organization to survive and expand to serve more consumer wants and needs. It took a while for businesses to implement the marketing concept. The process went slowly during the 1960s and 70s. During the 1980s. businesses began to apply the marketing concept more aggressively than they had done over the preceding 30 years. Thai led to a focus on customer relationship management (CRM) that lias become very important today. We explore that concept next. The Customer Relationship Era In the 1990s and early 2000s managers extended the marketing concept by adopting the practice of customer relationship management. Customer relationship management (CRM) is the process of learning as much as possible about present customers and doing everything you can over time to satisfy them or even to exceed their expectations with goods and services. The idea is to enhance customer satisfaction and stimulate long-term customer loyalty.12 For example, most airlines offer frequent-flicr programs that reward loyal customers with free flights The newest in customer relationship building, as mentioned earlier, involves social networks, online communities, tweets, and blogs. Clearly, the degree of consumer dissatisfaction that exists, especially with services such as airlines anil phone companies, shows that marketers have a long way to go to create customer satisfaction and loyalty. According to a recent study, only 6.8 percent of marketers said they have excellent knowledge of their customers when it comes to demographic, behavioral, and psychographic (how they think) data. The newest in CRM efforts is customer-managed relationships (CMR). The idea is to give the customer the power to build relationships with suppliers and consumers. Websites like Gxpedia, TVavdocity, and Priceline allow customers to find the best price or set their own.14 Since consumers are interested in green marketing today, relationship building also means responding to that desire. The Thinking Green box on p. 356. for example, explores "going green" in the apparel industry. Nonprofit Organizations and Marketing Even though the marketing concept emphasizes a profit orientation. marketing is a critical part of almost all organizations, including nonprofits. Charities use marketing to raise funds for combating world hunger, for instance, or to obtain other resources.'"The Red Cross uses promotion to encourage people to donate blood when local or national supplies run low. Greenpeace uses marketing to promote ecologically safe technologies. Environmental groups use marketing to try to cut

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Evaluation Of An Internal Audit Department The Case Of SOTELMA

Authors: Oumar Bah

1st Edition

6204486039, 978-6204486031

More Books

Students also viewed these Accounting questions

Question

Distinguish between inflation, disinfla- tion, and deflation.

Answered: 1 week ago

Question

manageremployee relationship deteriorating over time;

Answered: 1 week ago