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Examine the view that marketing theory and concepts portrayed in the traditional marketing literature have only limited application in guiding small business ma - Essay Example

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Marketing refers to the process of management that is responsible for the continued provision of benefits to the consumers through the identification, anticipation as well as the satisfaction of consumers needs through a process of exchange in a way that is profitable to the organization…
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Examine the view that marketing theory and concepts portrayed in the traditional marketing literature have only limited application in guiding small business ma
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Extract of sample "Examine the view that marketing theory and concepts portrayed in the traditional marketing literature have only limited application in guiding small business ma"

Download file to see previous pages An organization that focuses on the consumer or on the market must determine the desires of the potential consumers and then develop the service or product based on the results.
At this point, the two important marketing factors are the acquiring or recruiting of fresh customers and the expansion and retention of the buying relationship with the customers that are already in existence. The following are important under marketing theory and concepts.
The variables that normally operate within and without the business operating environment influence the marketing strategy indirectly or directly. For an organization to be successful, it must be in a position to understand and also anticipate the changes that are taking place within the business environment. The organization must thereafter take advantage of these changes. This is what gives the business a competitive advantage. The marketing environment consists of the internal and external factors.
An organization has to employ the sufficient and competitive staff to carry out the business activities. The employees must also be well motivated as part of the organizational strategic plan. When and if necessary, they must be taken through the process of training as well as development especially in the organizations that are service oriented so that the employees are able to offer the right services to the customers. This is likely to give the organization a competitive edge, (Blankson and Stokes, 2002).
2. Customers
The organization's customers are the driving force and the basis of survival for the organization. If they do not consume the services as well as the goods f the organization, then the organization would just have to close down. The organization must meet consumer wants, needs satisfactorily. Anything short of that will lead to the failure of the organizational strategy. (Blankson and Stokes, 2002)
3. The shareholders
These are the actual owners of the business and they pressure the management to give them the highest dividends possible. To satisfy the business shareholders, the organization has to be productive and profitable.
4. The suppliers
A change in the cost of the raw materials directly affects the strategy that is used by the organization's marketing mix. This may result to the shooting up of the prices of the end product. The organization must ensure that it has a close and workable relationship with the suppliers to ensure that the organization's products and services are of high quality.
5. The media
The attention that the media accords to the organization and its products as well as services creates a positive or negative publicity; this can either break or makes an organization.
6. Competitors
The organization should at all cost aim at offering better services and products than the ...Download file to see next pagesRead More
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