Marketing is one of the most important departments from the standpoint of an organization. Its productivity lies in different facts and aspects because it is associated with the flow of funds (FOF) of the company in particular. The core definition of marketing is, to aware the end users regarding the products and services of a company, and it is extremely important from the standpoint of an organization in particular (Nick Ellis, 2010).
Obviously, every company tries to have a definite edge over its competitors and the provision of the same is extremely important and vital, but the strategies to accomplish the same, varies from organizations to organizations and from industries to industries. The thing which differentiates the strategy and setting the objectives of the companies is the marketing based strategies. The stance of strategies are now changing very rapidly and organizations are now more towards this particular activity, because they are aware that this function can accelerate the pace of their earning potential.
The essence of marketing and marketing based activities have changed tremendously well from past few years which bring a sort of effectiveness in the current trends of marketing in total. The usage of the individual marketing mix variables is likely to change in the future and what companies must do to adapt their marketing approaches in order to achieve competitive advantage (Jim Blythe, 2005).
The main perspective of this assignment is to analyze the effectiveness of the marketing approaches in total. Mass marketing, customer influence and promotional based activities are some of the potential implications of marketing based activities in total.
It has been consensus that in the current era of marketing is the most effective one and there are certain things and old provisions which have been outdated in the current era. Mass marketing is one of those things which have been obsolete in the current era because it is something influential on the economic behavior on a large scale. Instead of mass marketing, there is a need of personalized marketing in this current era. Personalized marketing, which also known as one to one marketing in which each individual would be given equal presence and treatment (Jim Blythe, 2005).
It is something very demanding in the current era because the customers have numerous options to buy the products from any of the companies found in the market. In the 21st century, the provision of personalized marketing have strengthen its roots and found extremely beneficial and effective for the companies from different viewpoints.
Companies and brands are known in the public with their brand image and brand recognition and it is something and it is extremely important for the companies to come up with effective strategies from which they can proliferate the word of mouth information for their brands. Obviously, companies which are economically and strategically prosper are more towards enhancing the customer orientation as compared to the organization wherein the stance of brand recognition is low. Word of Mouth is one of the most effective strategies of advertising management and it is more towards enhancing the image of a brand as compared to other traditional marketing based activities (Burrow, 2002).
In the current century, organizations are now required to come up with new and effective strategies which are more towards customer’s orientation, rather than towards companies oriented.
Apart from these changes in the current stance of marketing, there is yet another important change analyze, which is all about changing the commercial implications of the companies arise from the promotional based decisions. Promotional based decisions could be extremely effective for an organization, as it is something which is more towards strengthens the brands of the company in total. Different promotional based activities and campaign have different effects over the productivity of an organization in total, but all of these effects are made and implicate to enhance the productivity of the company and enhance the recognition of their brands. For example, if Proctor and Gamble (P&G) launches a new product with a promotional activity like buy one and get one free then it would certainly impact over the financial position of the company.
References
Burrow, J. (2002). Marketing. Houston: South-Western/Thomson Learning.
Jim Blythe, A. S. (2005). Business-to-business Marketing Management: A Global Perspective. London: engage Learning EMEA.
Nick Ellis, J. F. (2010). Marketing: A Critical Textbook. New York: SAGE.
