Understanding Marketing
Ben Yoder
July 15, 2006
AIU Online
Abstract
A company cannot truly grow without a great marketing program. Marketing has evolved with the internet. Companies can now track customers much easier, filling their needs and wants. Companies realize that building a strong customer relationship is more important then mass marketing and having many customers. They are finding that retaining existing customers is more efficient then having more customers who are not repeat customers. Marketing is not just selling and advertising like it used to be, customer satisfaction is more important. Also it's not just dedicated to one department; everyone has to participate to have complete customer satisfaction.
Businesses need marketing programs to be successful in their industry. Marketing must be carefully be thought about and planned out. The firm should set goals and come up with strategies to reach these marketing goals. How does marketing work and why is it important to have great marketing strategies?
Understanding their marketing environment is something that all marketers must do immediately upon starting a job. Marketing used to be thought as just selling and advertising, but now is more conscious of customer needs and wants. Businesses are finding that it is cheaper and more profitable to keep existing customers satisfied, instead of constantly attracting new customers that are not satisfied and then immediately losing these customers Armstrong, G. & Kotler, P. (2005). It makes sense to retain customers; other wise companies have to shell out excessive amounts of money in advertising to attract new customers. Marketers have to research ...