Marketing Theory and Concepts

Topic

Marketing Theory and Concepts

Instructions

2. How would you describe the distinction between ‘market-orientation’ and ‘marketing-orientation’ of a company?
3. Is adaptation a good thing, or should one standardise? And what drives such a decision?
4. What constitutes a marketing mix and how could it be managed, i.e. what kind of trade offs are being made?

4. How do environmental factors shape the organisation of marketing in firms?

5. Discuss the marketing capabilities that firms should build in the digital age. Explain why these capabilities are important, and how firms could build and leverage them.

6. What drives firms to internationalize and operate in different country markets? And what are challenges associated with internationalization?

7. When should firms standardise marketing activities and when should they favour a differentiated approach?

8. How useful is IHIP in distinguishing services from products? Is the distinction between products and services useful in understanding market exchanges?

9. What is the difference between customer satisfaction and service quality? Should firms always strive for the highest level of service quality?

Total words: 5400

Answer preview

In the process of marketing, companies strive to discover and meet the needs of consumers and enhance a working formula that will address their satisfaction. A company has the crucial role of ensuring that customers get value for their money by providing goods and services that equally satisfy them (Connor, 2007). Developing a strategic marketing mix is a sure path through which a company can solve its problems. As a company establishes its marketing strategies, it is important it considers the clientele’s satisfaction as prime. Therefore, customer orientation will be a core a purpose a business establishes to create satisfaction by analyzing its internal and external environment.

Word count: 6332