Marketing has been defined differently by different people but the core essence of marketing is to connect with customers and convince them of what they need and buy that product even though they may not know why. According to Dr. Philip Kotler, Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit (Kotler & Keller, 2016).
Marketing is no longer just a department of an organization meant to attract customers rather a key part of centers of excellence that provide strategy and share best practices for the organization. As illustrated below, Marketing is at the center of all key stakeholders. Image Credit: (Unger)
As Theodore Levitt says, "Nothing drives progress like …show more content…
As a result of information technology, the field of marketing has evolved beyond recognition in the last decade. Big corporates have heavily invested in dedicated marketing resources to create one marketing language and approach. Below companies are some of them I consider have demonstrated excellence in Marketing:
1. Nike: excels at delivering exactly what the customer wants – functional and emotional benefits, does the job the customer buys the brand for, societal benefits by bringing the Nike community together. Once a sneaker business, now is one of the world's largest sport’s footwear and Apparel company. How did this happen? Excellent marketing, "word of foot" advertising, and sponsoring athletes. Nike Just Did …show more content…
IBM: It became an awesome de facto marketing company and the evidence is irrefutable. To avoid bankruptcy, IBM combined its hardware, software and consulting businesses and became the world's first vertically integrated company and created an enormous market out of thin air. Create a smarter planet?
4. IndiGo: Demonstrated in India’s crowded aviation market, that low fares do not necessarily mean low-quality service. Aimed to attract passengers through innovative technology, low fares, good quality service and most importantly customer loyalty and word of mouth publicity meeting its catchy tagline, "On time, every time."
The concept of marketing has changed dramatically over the last few decades, and recently the focus has increasingly moved to the customers (versus products and selling), marketing globally and the various technological issues that have an impact on the market (Kasi, 2010). Corporates need to heavily focus on understanding the target customer, what is called as “branded proposition” that offers emotional value in addition to great quality product. Companies now have to use social technologies to form meaningful relationships that involve frequent interactions. Another challenge is a rapidly changing market condition thereby causing customers’ ever-rising and changing expectations and to discover customers’ current needs is a complex process. The disappearance of the Motorola and Nokia brands are classic examples of how the companies failed to invest in marketing
Marketing is no longer just a department of an organization meant to attract customers rather a key part of centers of excellence that provide strategy and share best practices for the organization. As illustrated below, Marketing is at the center of all key stakeholders. Image Credit: (Unger)
As Theodore Levitt says, "Nothing drives progress like …show more content…
As a result of information technology, the field of marketing has evolved beyond recognition in the last decade. Big corporates have heavily invested in dedicated marketing resources to create one marketing language and approach. Below companies are some of them I consider have demonstrated excellence in Marketing:
1. Nike: excels at delivering exactly what the customer wants – functional and emotional benefits, does the job the customer buys the brand for, societal benefits by bringing the Nike community together. Once a sneaker business, now is one of the world's largest sport’s footwear and Apparel company. How did this happen? Excellent marketing, "word of foot" advertising, and sponsoring athletes. Nike Just Did …show more content…
IBM: It became an awesome de facto marketing company and the evidence is irrefutable. To avoid bankruptcy, IBM combined its hardware, software and consulting businesses and became the world's first vertically integrated company and created an enormous market out of thin air. Create a smarter planet?
4. IndiGo: Demonstrated in India’s crowded aviation market, that low fares do not necessarily mean low-quality service. Aimed to attract passengers through innovative technology, low fares, good quality service and most importantly customer loyalty and word of mouth publicity meeting its catchy tagline, "On time, every time."
The concept of marketing has changed dramatically over the last few decades, and recently the focus has increasingly moved to the customers (versus products and selling), marketing globally and the various technological issues that have an impact on the market (Kasi, 2010). Corporates need to heavily focus on understanding the target customer, what is called as “branded proposition” that offers emotional value in addition to great quality product. Companies now have to use social technologies to form meaningful relationships that involve frequent interactions. Another challenge is a rapidly changing market condition thereby causing customers’ ever-rising and changing expectations and to discover customers’ current needs is a complex process. The disappearance of the Motorola and Nokia brands are classic examples of how the companies failed to invest in marketing