Term Paper: Importance of marketing for organizations

By | April 28, 2011

Sample Term Paper

The importance of marketing in today’s competitive business environment is immense. With so many products and services being introduced every passing day it’s become very difficult to get you product noticed or getting it remembered by the customer. Alternatives and substitutes are available in market for almost every product so the job of the marketer becomes more intense in the sense that they need to do something extra in order to retain the customer and to make the product more acknowledged. So the marketers need to be more creative and proactive to get anything out of this environment (Kasnauskienė, 2007).

As far as the organizations are concerned companies that are not following a proper marketing mind set or, going without a marketing plan are lacking behind in the business world. In earlier part of the business the usually approach was solely focusing on the product and not the user of the product itself, but thing have changed enormously in the last 2 decades. With the introduction of globalization and viewing the whole world as a single target market most of the organizations have now changed gears and they have changed their approach towards the customers rather than the product only. A more customer centered approach help the organization to closely monitor the needs and wants of the customer and then designing their strategies accordingly.

The key to success in this kind of environment is being proactive meaning that knowing the expectation and needs of the customers what their expectations are associated with that product and then finding ways to exceed those expectations. What this will do is it would create a relationship between the customer and the company and today reputation is the key to success. Experts believe that a relationship which is based on trust and reputation is priceless reason being that the customer would have an inner feeling that my problem would be solved if I buy a particular product or they become satisfy by the resulting nature of that product and service. This inner feeling of satisfaction which the customer seeks is the prime objective of all the marketing techniques, strategies and tactics (Adam, 1999).

Also because of the fact that here are so many alternatives available in the market the single thing that would prove out to be decisive in retaining the customer is reputation. If the customer would have the feeling that their needs are unnoticed or the company is not paying attention towards them they would switch to some other company. Moral of the story is that paying attention to the customers’ needs is very important. Giving them respect showing concern about their problem would give them a personal feel and would come back for sure.  If you ignore them and they would disappear in a blink of an eye and it would take all the extra effort that the company have made earlier to bring back that particular customer.

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