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Discuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function. Free essay! Download now

Home > University > Business studies > Discuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function.

Discuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function.

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Downloads to date: N/A | Words: 1433 | Submitted: 23-May-2011
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Discuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function. essay previewDiscuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function. essay previewDiscuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function. essay preview

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Discuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function.

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Discuss the future viability of the Marketing Concept as the pre-eminent managerial orientation and integrating function.

Marketing is about the exchange of value between customer and supplier. However, the word has been much abused by business people in the last fifty years. The overwhelming emphasis to date has been on value to the organizations themselves and their shareholders and, whilst it is obvious that long-term successful organizations have always created superior value for customers, such organizations have essentially been in truly free, competitive markets. Compare this with those protected and cosseted markets in which the major players continue to thrive and prosper, in spite of treating their customers appallingly badly, and for whom value and electronic commerce mean little more than getting transaction costs down in other words, cost cutting. The notion of using e-commerce to create superior customer value is still an alien concept. (Wilson, 2006).

Shining through the gloom, however, is a consumer driven revolution fuelled by information technology, in which customers know as much, if not more, about their suppliers, than they do about them. This new found freedom is having a major impact on banking, airlines, financial services, former nationalized industries and many other erstwhile financially driven markets, but in beginning to turn to traditional marketing, the move to a more market driven orientation is being confounded by increasingly confusing patterns of consumer behaviour. Consumers are alternating their identities between the extremes of cyber consumer on the one hand and traditional buyer on the other. The new consumer is becoming something of an enigma, causing markets to fragment. Add to this an increasing proliferation of products, an endless stream of adverts and the fact that consumers have become more marketing literate and in so doing are rejecting traditional make, promote, sell models and we have a situation which demands a new, more proactive style of marketing.

According to peter (2005) the technological developments of the past few years have resulted in major changes in the products offered for sale. They have led to a greater variety of products, more product features, more products composed of modules and even customized products. Customers are becoming increasingly aware of the opportunities available to buy products and services that are, above all, compatible with their individual and personal specific needs. This is possible only when customers make their wishes known, which in turn requires close interaction between suppliers and buyers. This interaction can be achieved in the distribution channel, or by means of direct media such as the telephone or the internet. Suppliers are thus faced with a choice: either they can support the distribution channel using the new ...

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