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Marketing mix review
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| Words: 1012 | Submitted: 14-Nov-2012
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DescriptionReview of Kotler and Levy's Marketing Mix
After the colonial era in the world, people tend to think more freely and they had more freedom to express their ideas. Then with the open economy concepts people had freedom to choose what they want; thinking beyond their needs. According to Svensson (2001) by the end of 1940’s, organizations have considered only pure economic factors to produce their goods and production forecasts and strategies were built around that. After enlightenment did by Kotler and Levy (1969) the marketing perspective entered into a new era focusing beyond the holy rules based on traditional economic fundamentals such as demand and supply (Hirchman 1983). Even though the economic theories were still valid, the more influence factors have added to the market segments for quantifying the demand of a product. People tend to focus service centered marketing concepts and they were able to milking money by giving continuous services around the product. As long as producers are able to show the value proposition of their product, the more the consumers are willing to pay for it. (Vargo & Lusch 2004) According to Bourassa, , Cunningham & Handelman (2007) Kotler and Levy have emphasized how marketing can be useful to non profit organizations and what were the real world implications of those theories.
Parallel to this, the buzzword of “Relationship marketing” (RM) was highly discussed in the marketing sector. RM is a successful and feasible strategy in the mass consumer market where profit margins are low and rely on repeated customer consumption and economies of scale. (O’Malley & Tynan , 1998) According to Zineldin & Philipson (2007) a customer who loyal to a business considered as a lifeblood of any business. RM was concentrated around the customer life cycle and focusing the existing customers rather the new customers. Therefore personal and impersonal communication is important for an organization to keep customer awareness about their products and services.
According to Zineldin & Philipson (2007) Kotler argues that relationship marketing is not useful when the customer is engaging short term with the organization. If a consumer is having a lower switching cost then it becomes a waste of effort. According to the explanation given by Kotler & Levy (1969), in the short run firm’s objective is selling existing products and in the long run it is creating the products which people are demanding. But they are not clear about how far that communication has to keep with customer and relevant strategies. In a nutshell they are not emphasized in RM. They have kept it as a gray area. It is worth discussing the validity of these according to the current environment.
During ancient days people were giving up their lives and roam around the world ...
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