Definition of Marketing Essay Example | Topics and Well Written Essays - 500 words

Definition of Marketing - Essay Example Marketing is more concerned with developing demand for a product and satisfying customers’ needs and not necessarily for customers to pay for the goods. Customer relationship is a very important and efficient approach that helps in creating and maintaining the good relationship with the customers. Customer relation brings about a strong bond through personal and emotional linkage and the organization can know the actual needs of the customer (Oly, 2007). Loyal customers are quite important as they have a big likelihood of telling more people about your business through the word of mouth. External customers always like to feel needed by the business operators and communication with them is very important. A satisfied customer will always be happy with the business and remain forever, which will help in enhancing the growth of the business. Dealing with customers efficiently increases their satisfaction increasing the chance of making more sales and high profits. A business strategy involves the tactics and methods business persons use to manage their businesses and organizations. Having an effective business strategy helps in retaining the customers especially if there is a program for following up the customers to find out whether the items they bought are in good condition (Oly, 2007). A good organizational and business strategy ensures that resources are used efficiently to avoid wastage. Some of the resources in a business organization are personnel customers, reputation in the market, patents, warehouses, and manufacturing processes. Business strategies should utilize the companys resources to ensure that the company does not lose its customers and has a big market share. Good company strategies enhance its expansion and growth through promotion of vigorous marketing research. Research helps in venturing into new areas to increase its production and promote growth. The other importance of strategy is giving directions and action plans, prioritization and