Has the Definition of Marketing Changed - Essay Example

Skilled manpower has the potential to raise the business in the market but if the skill is not sufficient to convince and persuade the customer’s need then the business finds it difficult to excel in the competitive market. With the advances in technology and the development of communication skills, advertisements trends in markets are changing. The good marketing skill requires a deep understanding of the philosophy of the trend and also the customer’s requirement. Thus marketing concept encompasses the customer-focused philosophy (What is marketing?).The futuristic view is the hallmark of a good marketing strategy.

A successful business always gives keen insight into the customer’s orientation and tries to cover a long-range of customers with a deep and thorough understanding as well as anticipation of the requirements (What is marketing?).The advent of computerization and globalization in marketing trends is changing the perspectives of marketing. The world has come closer in terms of economics, availability of funds, availability of raw material, and also the finished products along with the promotion of sales through advertising.

This has raised the demands of the consumers and has given a new twist in the marketing strategies. The world markets are connected through the Internet and are updated about the latest trends (Has the Definition of Marketing Changed?).This has proved to provide both, positive and negative implications for the customers. Every business strives to provide helpful commodities to the customer, to prove its supremacy and dominance in the market they adopt different marketing strategies along with the price tags and various schemes and offers that were not prevalent in the past.

Different companies endeavor different policies to retain their customers. This changing scenario is providing opportunities to the skilled potentials to thrive in the growing competitive environment while creating lacunae for others (Has the Definition of Marketing Changed?).Innovation in every aspect is the key requirement of survival. It is essential for the marketer to persuade the buyer for their products, although it requires a lot of skills and practice to stay like a rock in the cut-throat competition.

Innovation should bring customer satisfaction and therefore feedback from the customers has become the prime requisite of the present marketing trend. For this, it is essential that the product must be introduced with good communication skills with the promotion of the benefit it is capable of providing to the consumers. The trend has changed from the seller to the buyer’s market (Has the Definition of Marketing Changed?).The feedback from the customer is becoming a vital criterion for the endurance of the business.

This was not prevalent in the past. Customer satisfaction is becoming a holistic approach to business. This has thrown impact not only on the economy of the nations but also on the world trade and world market. The repercussion of this aggressive and ruthless competition and changing trends in business is witnessed in terms of environmental hazards and also the demolition of ethics/ morals and humane (Has the Definition of Marketing Changed?).