Marketing in the Modern World
This course will teach you all the required skills needed about Marketing in 12 modules.
Marketing of Services
When Walt Disney created Disneyland the focus was on experience excellence. This is a shift from products which focus on attributes rather than experience.In Disneyland:
- Commitment to customer is very clear.
- Focus on customer experience rather than traditional business efficiencies.
- Imagineering engineering which actualizes customer imagination.
- Focus on people.
- Creating wow moments.
- Customer service is the practice of delivering products and services to both internal and external customers via the efforts of employees or through the provision of an appropriate servicescape.
- There are three extra P’s in the marketing mix for services – people, physical evidence and process.
The four unique characteristics of services are – intangibility, inseparability, heterogeneity and perishability.
The services marketing triangle involves the company, services providers and the customers.
External marketing is between the company and the customer.
Interactive marketing is involving the customer with different strategies.Customer advocacy occurs when your customer is part of your marketing process. The customer themselves promotes the service if they have a particularly good experience.
- Production Focus – Producing at the cheapest cost, making it affordable to the customer and making it widely available. The focus was on availability and price.
Product Concept – If you make a superior product the customer will prefer that product. May not suit customer’s requirements.
Market orientation is an organization wide activity. It is not the responsibility of only marketing and sales but by the entire organization.Market orientation is the organization wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments and organization wide responsiveness to it.
Intelligence Generation – Sense
Intelligence Dissemination – ShareResponsiveness – Respond
Holistic marketing has four dimensions – Internal marketing, Integrated Marketing, Socially Responsible Marketing and Relationship Marketing.
Internal marketing – Marketing to your own employees across departments.Integrated marketing – Using one unified communication from the organization to different platforms.
Relationship marketing – managing your relationship with customers and distribution partners (retailers, wholesalers, suppliers etc).Socially responsible marketing – Whatever you do in an organization should be socially responsible or society’s response will not be favourable.Types of market offerings:
- Physical goods.
- Services/ Service bundles.
Limitations and Criticism
Often the lack of efficiency an organization experiences when marketing is credited to the marketing theory and not the failure of the organization.Marketing can be thought of as a manipulation of society.
Organizations must still efficiently utilize scarce resources.Marketing practices can have a social affect on lifestyles and value systems.
Some marketing theories are criticized because of their limitations for their application in small or medium enterprises.
Changes in the global economy have an impact on all businesses all over the world.Organizations now have less control of their markets and are less able to predict future conditions.With a global economy there is an increasingly competitive and dynamic commercial environment.
- Green Marketing:
- There are growing concerns about the environmental deterioration across the world.
- The role of the organization in conserving the planet needs to be addressed.
- There are regulations, laws and moral responsibility.
- Customers and stakeholder’s response to a green initiative must be taken into account.
- Information Technology:
- Exponential rate of development in Internet and related technologies.
- Mobile phone technologies, e-commerce, and Database marketing are on the rise.
- There must be updating, investment, and training in order to remain competitive.
- Knowledge will enable staying ahead of competition.
- Customer relationship management: Managing the relationship between the customer and the organization. It is an outcome of dissatisfaction with conventional transactional marketing.
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Practice makes perfect
We know about your hectic schedule. We also know the only way you truly understand a subject is by practicing it in a real environment. This is why we’ve set a playground area that’s full of hours of exercises, questions and challenges. It even has a gaming section.
The best campus facilities
In addition to our online classroom, we also offer an option to take part in a live classroom. It takes place in our vast campus located in Westfield, London. Here you’ll be able to use the most up-to-date facilities and computer equipment.
Learn from the very best
Join our course and start building the most wanted career available today. We make sure every class is easily understood, and that all students reach the same level of expertise needed for today’s hi-tech industry.