...The Future of Relationship Marketing Introduction Marketing theory and related approaches had been founded since 1950s that have been playing a major role in academic and business administration perspectives for nearly half of a century. As market grows and environment changes by, new theories and approaches have been innovated by antecedent scholars and practitioners in addition to traditional transaction marketing. Relationship marketing is a relatively new theory that emerged since 1990s. Egan (2008) addresses that service marketing and industrial marketing are the two crucial theories contributing to relationship marketing. Gronroos (1994) indicates the paradigm shift is taking place from marketing mix to relationship marketing. Like other perspectives in the business world, evolution of the theories and approaches may eventually bring actual changes to the implementing level. For instance, in recent decades, conversion happened in most of the organizations that personnel department turned into a human resource department and computer department turned into an information technology department. As marketers recognized the importance of developing buyer-seller relationships (Dwyer et al, 1987), relationship marketing may play more important role in the future and widely spread over to all kinds of businesses. Nevertheless, this is not a comfortable highway since people do have limited knowledge and individual manner in applying the relationship marketing without...
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... | | |*The same course can be transferred only as 1 course. | |First Level Modules | | |ACC1006 Accounting Information Systems |International Technology Venturing | |BSP1005 Managerial Economics |TU91.2010 Managerial Economics | |MKT1003 Principles of Marketing |23A00210 Introduction to Marketing (6 ECTS)...
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...Cola Drinks CASE:Future Cola of Wahaha Group Co.Ltd,China Sun, Jianfei 2010 Laurea Leppävaara Laurea University of Applied Sciences Laurea Leppävaara Brand Image in Cola Drinks CASE: Future Cola of Wahaha Group Co.Ltd,China Jianfei Sun Degree Programme in Business Management Thesis April, 2010 Laurea University of Applied Sciences Laurea Leppävaara Degree Programme in Business Management International Business-to-Business Marketing Abstract Jianfei Sun Brand Image in Cola Drinks; Case: Futre Cola of Wahaha Group Co.Ltd, China Year 2010 Pages 45 In Chinese beverage market, there are three mainly cola brands, Coca cola, Pepsi and Future Cola, these three brand share almost 90% cola market, so that competition is omnipresent ,not only in the consumer market, but also very intensive in business to business market. Business-to-business brand building involves various aspects, for example, attributes of products and services, brand image, brand position, and B2B brand management, Wahaha Co., Ltd as a case company need to build brand image and find a solution on how to be a stronger brand in order to attract more potential customer. The theoretical context of this thesis lies in marketing management. The theoretical emphasis and framework is however in brand management: brand concepts, brand building and brand image. As the study is made in B2B environment the difference between B2B and consumer markets will be specified. The quantitative research method is used...
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...Industrial Marketing Management 40 (2011) 219–230 Contents lists available at ScienceDirect Industrial Marketing Management Customer value anticipation, customer satisfaction and loyalty: An empirical examination Daniel J. Flint a,⁎, Christopher P. Blocker b, Philip J. Boutin Jr. a a b The University of Tennessee, Knoxville, TN, USA Baylor University, Waco, TX, USA a r t i c l e i n f o Article history: Received 22 October 2009 Received in revised form 30 January 2010 Accepted 27 May 2010 Available online 31 July 2010 Keywords: Customer value anticipation Service dominant logic Customer loyalty Customer satisfaction Customer value a b s t r a c t A service-dominant logic by definition is inherently customer oriented and relational, reflecting deeper and more complex connections between suppliers and customers. The service mindset driving increased collaboration enables suppliers to have deeper insights to what customers' value. Customer value perceptions are dynamic, sometimes in constant flux, necessitating anticipatory capabilities on the part of suppliers. Yet, there is a notable lack of discussion about customer value anticipation and related empirical evidence of whether or not customers care if suppliers anticipate what they value. The authors report on two survey studies that test using structural equation modeling the notion that suppliers good at anticipating what customers will value realize higher customer satisfaction and...
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...Wang (Nancy) Title: Marketing Myopia Author: Theodore Levitt Year: 2004 Source: Levitt, T. (2004) Marketing Myopia, Harvard Business Review, Jul-Aug, pp138-149; originally published in Harvard Business Review, July/Aug. 1960, pp. 45-56. Insight：Interesting Readability: a little hard to read Relevance: good practice Overall: 7.5 Key Content: The article focus on trade will get successful when they cater for customers’ demands rather than selling their products for clients. The effective corporate management is very essential for development of companies. Some firms’ business stopped growing because of failing business management, such as incorrect business orientation and purposes, concrete matters. The article showed that petroleum industry makes its business get success because improved manufacture oil product’s efficiency, products innovation and gas and oil transmission, in particular, developed domestic central-heating system to compete with rivalry. Also pointed that the car industry’s ford company through saving its product costs to reduce its cars price to meet more customers’ demands to purchase its cars and increase industry profits. Therefore, for pursuing enterprise business success, corporations must pay attention to customer creating and customer-satisfy organism through a powerful leadership. Learning / Reflection: In the article, successful company leader utilize marketing questions’ “where...
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...Strategic Marketing. A literature review on definitions, concepts and boundaries Jorge Mongay Autonomous University of Barcelona, SBS Swiss Business School 2006 Online at https://mpra.ub.uni-muenchen.de/41840/ MPRA Paper No. 41840, posted 9. October 2012 20:07 UTC WORKING PAPER. JM-A1-2006 STRATEGIC MARKETING: A LITERATURE REVIEW ON DEFINITIONS, CONCEPTS AND BOUNDARIES. Dr. Jorge Mongay Autonomous University of Barcelona (UAB) & SBS Swiss Business School 1 WORKING PAPER. JM-A1-2006 Summary 1. Definitions of strategic marketing 2. Aspects of Strategic Marketing 3. Factors in Strategic Marketing 4. Elements of Marketing Strategy 5. Intersections with others disciplines 5.1. Intersection between Strategic Marketing and Marketing Tactics 5.2. Intersection between Strategic Marketing and Corporate Strategy 5.3. How does it Strategic Marketing fit into Corporate Strategy? 6. Final conclusions of the paper 7. References 2 WORKING PAPER. JM-A1-2006 1. STRATEGIC MARKETING AND ITS DEFINITIONS Although most authors speak about some parts of Strategic Marketing, here is included a list of definitions of the term. Some authors appear in different years ( for example, Jain), It is understand that they have added new comments or redefined the term after the years. The table and the definitions have been ordered by year of publication. Author Year Definition Drucker 1973 “ Strategic marketing as seen...
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...project FINANCE 1. vendor performance 2. quality circle 3. TQM 4. ISO 9000 5. value engineering 6. centralize purchase 7. management audit 8. company analysis with ratio/fund flow 9. study of stock exchange 10. role of SEBI 11. joint venture 12. takeover 13. merger 14. marginal cost as management tool 15. product life cycle 16. media plan 17. test marketing 18. export pricing 19. role of small scale industries in developing nation 20. role of SIDBI 21. role of EXLM bank 22. study of financial institute 23. mutual fund 24. Privatization insurance, road, ports etc. 25. waste management 26. trade union movement in India 27. labour welfare scheme 28. working capital management 29. cash management / fund management 30. importance of budget 31. invisible exports 32. tourism industries 33. brand equity 34. bench marking 35. co-operative movement in Agro-product 36. marketing Agro-product 37. DOT COM company in future 38. IT Parks 39. South East Asian origin 40. FDI 41. Regional Grouping / Trade Block 42. SEZ 43. packing need 44. social forestory 45. comparative study of industries (either financial angle or marketing angle or techno angle) 46. marketing of SSI produt 47. warehousing 48. transport 49. communication and custom service 50. universal bank 51. credit cards 52. health...
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...Quiz Competition Organized by The Future Marketers Association Department of Marketing Management University of Kelaniya The Department of Marketing Management The Department of Marketing Management is a part of the Faculty of Commerce and Management of the University of Kelaniya. It currently offers a Bachelor of Business Management Marketing Special Degree - B.B.Mgt (Marketing) which is a sought after degree program by students and has positioned itself as a dynamic, innovative and market oriented academic body, committed to produce graduates who are armed with knowledge and skills to face the challenges of society and the industry. As a result of this multi disciplinary approach, in addition to a comprehensive academic program, the Department puts much emphasis on the practical training of undergraduates in the industry, encouraging and urging the students to participate in various workshops, guest lectures by eminent industry personnel and by themselves organize and carry out events such as the Inter School Business Cup. As such, the Department joins hands with private sector at the undergraduate level itself to conduct its activities and also solicits help from them to sponsor some of its activities where funds are not present. The Profile of Future Marketers Association (FMA) The Future Marketers Association (FMA) is a formally structured student body in the University of Kelaniya attached to the Department of Marketing Management nourished with a commendable history...
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...• 1. the future of marketingWhite PaperThe future of marketing 1 >> • 2. Foreword In these challenging times, marketing and a marketing orientation have rarely been more important. Yet time and time again we see the value of marketing being questioned and marketing budgets cut. White Paper: I believe marketing is essential to the success of organisations. However, sometimes marketers are their own worst enemy, failing to account for their often considerable Marketing’s decline: budgets, falling back on dull and uninspiring campaigns, and floundering when questioned on the financial impact of their strategies. a wild exaggeration? Dr Evmorfia Argyriou, Aston Business School, UK This White Paper, the result of research completed for The Professor Peter Leeflang, Rijksuniversiteit Groningen, The Netherlands Institute by Aston Business School, reveals how marketers themselves perceive their role and importantly how they are Professor John Saunders, Aston Business School, UK and AUDENCIA Grade École, Nantes, France perceived by their colleagues in the finance department. Professor Peter Verhoef, Rijksuniversiteit Groningen, The Netherlands Whilst marketing is unquestionably central to business success – with marketing orientation and the influence of marketing within a firm critical to business performance – our Paper shows that marketers must overcome their own Contents weaknesses if they are to prove the value they add and earn the respect of their peers. 2 Marketing’s decline? 4 Marketing...
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...In the article, IT Focus shifts to social, brand management, by Ben Rooney, it discussed how brand management is becoming, “one of the most important functions of business computing as companies shift away from simply processing historic data, to seeking out ways to interact with, and to influence consumers.” (Rooney, 2013) Informatica Corpo located in California wants to find a way to facilitate interactions in order to optimize brand management via social media. This article is important to marketing management because this company is trying to plan and execute a way to find out what their consumers like or dislike via social media. By doing this, they can know who to target as an individual but also affect that same individual. This would then help Informatica Corpo realize pricing and promotion to satisfy the target market of the customers they are trying to reach. When they do this, they will be able to know what their customers want and how to maintain that relationship. Current marketing management trends that are supported in this article are within marketing planning. The book defines marketing planning as the process produces three outputs: (1) establishing marketing objectives, (2) selecting the target marketing, and (3) developing the marketing mix. (Peter & Donnelly, p.22, 2013) Informatica Corpo is working on brand management but more specifically, selecting a target market. This company is trying to identify their customer’s wants and needs and what must be...
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...Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. But if we try to look from closer, Mothers are the best managers if one wants to learn from. Here I am taking example of my own mother. She is a doctor so she handles her hospital work and daily routine activities of my house. I have divided the activities performed by my mother on daily routine basis (weekdays) and tried to put them into management functionalities comprises planning, organizing, staffing, leading /directing, and controlling our organization (in this case my house). All this is done by resourcing, encompasses the deployment and manipulation of human resources, financial resources, technological resources, and natural resources. |My Mother “The Best Manager” | |Time |Activity |Functionality |Learning | |0500-0530 Hrs |Waking up on time despite of |Planning |Time management | | |working late last night |Organising |Organisational commitment | | | |Leading |Consistency ...
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...the expansion of Acme Home Improvements to Mexico City, an information system management plan needs to be established in order to oversee employment and management, as well as meet the needs of Acme’s stakeholders including employees, customers, suppliers, shareholders and investors. The plan has a goal of improving aspects such as sales and marketing, budgeting, planning, hiring and training all while using technology to assist in the assignment of roles, and to discover correlations between profits, performance, and competitors. System Objectives & Information Requirements of Stakeholders The goals and scope of the Information Systems plan is to identify how the plan will help each stakeholder group obtain the necessary information, data, and equipment required in order to complete the tasks associated with each group. A stakeholder is someone that has put a level of trust and interest into a business, project, or idea. Regarding the Acme Mexico City project (AMC), the stakeholders consist of those employed by AMC, buyers of the product, suppliers, and their shareholders and investors. All of the needs of the stakeholders will be met by the AMC information system, which will help to organize departments such as human resources, marketing, operations management and sales. Human Resources is defined as a department which “maintains policies, plans and procedures for the effective management of employees” (Baltzan, 2011). This includes the hiring and training of those...
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...These breakthroughs have changed Gene One from a $2 million start-up company into a $400 million company on the verge of going public. The original members of Gene One are challenged with organizing the company and preparing it for an initial public offering (IPO) on Wall Street. The IPO requires the company to make several changes to the structure of the company’s executive board, marketing strategy, and product invention. Leadership at Gene One must identify weaknesses in management concerning the IPO, and the stress associated with going public. Management is challenged with accomplishing one of the following: 1. Gene One becomes a public company and the goals suggested by the chief executive officer (CEO) are met by adding new people to the existing staff and retaining the team’s culture. 2. Gene One becomes a public company and the goals suggested by the CEO are met by removing people and changing the company’s culture. Both of these options require management to move forward with the IPO and to make stressful decisions concerning the company’s future. Dealing with the stress of the change will determine the success of the IPO. “In an intelligently managed organization, that leadership isn’t a randomly operating process; it’s ‘a propulsive force given motion by purpose, and by a joint effort to accomplish it.’ That is its natural tendency, its bias. But it is management’s role to ensure that this organizational leadership has a substantive and...
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...What is a Marketing Plan? "The formal marketing plan is the symbol and essence of purposeful management," in the view of many marketing executives surveyed by The Conference Board. "Formulation of a written plan to guide the future operations of the marketing function, some marketers contend, links in a practical way the customer oriented marketing concept and the principle of management by objectives. What is more, in the words of one executive, such a plan puts an end 'to the intuitive approach to decision making and to informal planning to meet day-to-day challenges. "Those supporting use of a formal marketing plan applaud especially the discipline of spelling out future intentions in a written document. Several acknowledge that the element of ritual in preparing a written plan may, on occasion, degenerate into 'busy work' or 'gold-plating.' Yet they themselves do not see this as sufficient reason to settle for anything less formal. Unless all the key elements of a plan are written down, they say there will always be loopholes for ambiguity and misunderstanding. "The notion that formalized marketing planning can become something of a straitjacket, leaving too little flexibility for future marketing, action, is not borne out by the experience of most of the marketers reporting. Many emphasize that for them, formal planning is not mere adherence to standardized techniques sure to yield standardized plans. As they see it, marketing planning in each company is a search for...
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..."Marketing ideas have made singularly little penetration into the centres of influence of the construction industry. To some extent this follows from the character of the industry as an agglomeration of service organisations, not without structural relationship to one another, but serving a clientele from which individuals seek service very infrequently." (Jepson & Nicholson, 1972: p.1) Although times have and are changing the above statement despite being written over twenty five years ago is still to some extent very true. The subject of this assignment is a construction firm that has recently designed and implemented a marketing management strategy. The objective of this assignment is fourfold, firstly the company’s approach to marketing management will be documented this will then be related to marketing management theory Then by analysing data collected through research the effectiveness of the strategy will be discussed. Finally using marketing management theory as a foundation recommendations will be made to identify where the initial strategy could be improved in order to promote future business development and success, in line with the strategic mission of the company. The organisation in question has strong foundations, since it’s incorporation in the mid fifties turnover has grown in line with inflation. In 1984 the Company was purchased by the son of the original managing director, he took up the role of new managing director. By the beginning of the 1990’s it became...
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