Broad Shifts in the Markets vs. Shift in Societal Force Essay examples

1050 Words Feb 22nd, 2012 5 Pages
Question:
Consider the broad shifts in marketing. Can they be related to the major societal forces? Which force has contributed to which shift?
Answer:
According to Kotler and Keller (2011), marketing is the ability of an organization to be able to meet the needs of its markets profitably. In the bid to profitably meet the needs of customers, organizations are considered to be continuously undergoing series of cycles in resonance with globalization, by ensuring that they are able to meet the expectations of their targeted customers, flexible enough to adapt to the changes brought about by the forces outside their controls, actions of their competitors that affect their products or services acceptance or rejection within the markets,
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By so doing, the rate at which market can be covered has tremendously improved. As such, organizations are advised to be sure of their products or services in terms of quality, human acceptability, among others prior to putting them on the pushcarts! * Another important factor that is worth discussing in this regard is the economic reforms tools (privatization, deregulations & so on) that now dominate most countries governance strategies in the areas of per capital income, national foreign reserves, GDP to mention a few . In the bid to improve the quality of life by creating the right environment for firms competition (anticipated to improve the quality of life), most governments are now of the opinion that government owned industries should be privatized. In a way, this has further heightened the type of competition seen in the today’s markets. Known examples in this context are, ‘British Airways and British Telecom in United Kingdom’, Kotler and Keller (2011). * The quality of information available to consumers of today has made them very smart and also, made their needs and wants as the most significant factors to be considered by organizations when developing products and services. As seen in the present days, most organizations struggle to satisfy their consumers at all cost! Opinion wise, this has really not been easy for most organizations

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