Marketing as a key tool for effective business development
From the second half of the 20th century onward, the saturation of markets led companies to bestow upon marketers the opportunity to perform on a more strategic level. Through a profound knowledge on the customer, these professionals were involved in what the company would produce, its distribution channels and pricing strategy. Employees within an organization were also motivated to acquire marketing knowledge, which set the grounds to clients obtaining a general brand experience.
But wait, there's more... According to recent publications, two new eras have been added to the list:
The Relationship Marketing Era
The focus of companies shifts towards building customer loyalty and developing relationships with clients. Authors such as Don Peppers, Martha Rogers and Philip Kotler were instigators of the importance of creating bonds, considering that "the cost of attracting a new customer is estimated to be five times the cost of keeping a current customer happy." (Kotler, 1997)
The Social/Marketing Era
Concentrates on social interaction and a real-time connection with clients. Businesses are connected to current and potential customers 24/7 and engagement is a critical success factor.
Consider how much marketing has changed in the last century and will continue to shift as channels of communication, production levels and a society alter. As markets expand and new marketing platforms emerge, the science and practice of this profession is being transformed by the minute. What we consider today to be the fastest way to reach our customers might be obsolete tomorrow.
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