StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Master Level - Academic Marketing - Research, Theory and Practice in Marketing - Essay Example

Cite this document
Summary
In an article titled ‘Marketers: Bid farewell to strategy based on old 4Ps’, the author, Don Shultz stresses the need to redefine marketing strategies that must meet the growing demands of the changing times. According to him, McCarthy’s principles of 4Ps of marketing have…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
Master Level - Academic Marketing - Research, Theory and Practice in Marketing
Read Text Preview

Extract of sample "Master Level - Academic Marketing - Research, Theory and Practice in Marketing"

Download file to see previous pages

The strategy therefore, was viable in the given restrained parameters and yielded results that satisfied both the customers and the retailers of the time. On the contrary, today, the technological advancements have brought forth an explosion of information that is easily accessible to public through the internet and other media like television, radio, mobile phones etc. The internet has made it easy for the customers to become aware of the product details including its availability at competitive prices which has precipitated the need to develop a whole new perspective for a new marketing technique.

Hence one needs to be more open when Shultz say that it is the end-users who now control the markets rather than the marketers. It is equally true that though, the technology in its wake has inundated the market with variety of products which has given the customer plenty of option, the seller is left with the cut throat competition that must be met urgently. It therefore becomes all the more important that the sellers need to introduce new techniques and brands that would, not only attract the customers but also retain them.

The customer, while remaining the main point of any marketing techniques, no more commands the sole attention. The emerging technology has necessitated the incorporation of the whole system within which the product is marketed. Hence any successful marketing must address the system as a whole. Shultz has come up with the theory of ‘triad’ comprising of marketers, customers and the employees who must be considered as a unit for a market strategy to succeed. Shultz asserts that these three elements where employees also include the retailers, distributors, agents and the sales force, play a vital role in marketing of the product.

Today the concept of market has changed so much so that instead of customer going to the ‘product’, the product ‘comes’

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Master Level - Academic Marketing - Research, Theory and Practice in Essay”, n.d.)
Master Level - Academic Marketing - Research, Theory and Practice in Essay. Retrieved from https://studentshare.org/miscellaneous/1541084-master-level-academic-marketing-research-theory-and-practice-in-marketing
(Master Level - Academic Marketing - Research, Theory and Practice in Essay)
Master Level - Academic Marketing - Research, Theory and Practice in Essay. https://studentshare.org/miscellaneous/1541084-master-level-academic-marketing-research-theory-and-practice-in-marketing.
“Master Level - Academic Marketing - Research, Theory and Practice in Essay”, n.d. https://studentshare.org/miscellaneous/1541084-master-level-academic-marketing-research-theory-and-practice-in-marketing.
  • Cited: 0 times

CHECK THESE SAMPLES OF Master Level - Academic Marketing - Research, Theory and Practice in Marketing

The Future of the Fair Trade Coffee Industry in Britain

The paper "The Future of the Fair Trade Coffee Industry in Britain" highlights that for an effective marketing plan the fair-trade coffee label needs to be efficiently monitored and would need third-party certification to gain consumer credibility to pay for more expensive FT coffee.... hellip; marketing Free Trade coffee in the UK and other Western developed nations becomes a matter of ethics and informed advertising.... In this vein, I can conclude that for the commercial success of fair-trade coffee the consumer base needs information, not persuasion and in the vein, different way outs have been discussed above in my brief research paper....
9 Pages (2250 words) Research Paper

Human Behavior Academy and Its Micro-Environment

This paper "Human Behavior Academy and Its Micro-Environment" focuses on the marketing plan for Human Behavior Academy (HBA) with respect to its various business operations.... The various parts and factors of the marketing plan have been highlighted by reflecting situational analysis models.... nbsp;… The paper intends to formulate an integrated marketing plan for HBA through the implementation of suitable situational, competitive, and industry analyses models and different aspects of marketing strategies and objectives....
26 Pages (6500 words) Research Paper

Communication

Online marketing will enable the business to promote its services and products over the internet, at only a fraction of what it would have cost to use traditional modes of advertisement.... This mode of marketing involves the creation of a strategy that suits the company's… Some of the methods utilized in online marketing include online PR, pay per click advertising, article submission, email newsletters, optimization of search engines, banner placement, and placement of internet search This paper seeks to discuss the advantages and disadvantages of online marketing, its potential impact on the company's online sales, and finally to recommend requirements for a successful online campaign....
11 Pages (2750 words) Research Paper

Research Theory & Skills for Sport Management Module

It is important to highlight that this research paper delves in the discussion of the theory and the required skills and theories that are quite ideal in the management of sports.... The introduction section has given an overview of the research that has included background of the… Sports are just but activities that individuals engage themselves in.... they could be talents that are God given or can be recreational or for enjoyment purposes (Michael, 2012, page 572). This paper has also highlighted the fact that most and sports are not performing in the required way owing to the fact the level of management is quite wanting and so the need to act as fast as possible to therefore save the situation....
12 Pages (3000 words) Research Paper

Estimating Human Capital - Grounded Theory Approach

The purpose of this paper is to utilize the grounded theory approach to evaluate the appropriateness of the approaches used to measure human capital and the challenges of doing this.... Hence, the research will review the grounded theory approach and analyze how it is applied. A… terature review to be conducted will critically review the concept of human capital and its inherent features and approaches in being used as a method of checking a firm's human resource base....
16 Pages (4000 words) Research Paper

Benchmarking as a Business Strategy For Improving Business Performance: Best Practice in the Industry

The next step involves doing a complete analysis of the variance between the company's practices and the best practice in the industry.... The first step in the process of benchmarking involves a thorough understanding of the current norm of business and then analyzing the business practice....
24 Pages (6000 words) Research Paper

Strategic Management of S E A Olympus Marketing

The current research paper "Strategic Management of S E A Olympus marketing" aims to discuss the management innovation system of the company and its competitive advantage.... Yeung and Chan (1998) explained that many authors believed that the improvement of quality management in a progressive approach will lead to efficient internal operations and satisfied external customers and for-profit organisations; superior marketing and financial performance.... Olympus marketing Incorporated with respect to its expansion program....
36 Pages (9000 words) Research Paper

Determinants of the National Income of Countries from a Keynesian Perspective

Even though some of these are generally mentioned to include inflation and employment, the writers narrow their research to the Keynesian theory and this is what makes this particular source useful to the proposal.... However, Keynes contradicted this theory, holding the opinion that economies, which operate at equilibrium levels, do not necessarily have a high employment level.... This research proposal seeks to develop an in-depth analysis of the need for studying the determinants of national income of any given country....
7 Pages (1750 words) Research Proposal
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us