From Simple Transactions to Strong Relationships

In: Business and Management

Submitted By franmchamy
Words 529
Pages 3
During the past years, both technology and communication media have been evolving unexpectedly fast, and it is crucial that marketing adapts in order to keep their customers satisfied. Today, marketing plays a key role in organizations and in how they communicate with their customers, but marketing individual products is no longer enough. Companies need to engage with their costumers and build long-term relationships in order to deliver greater value.

Marketing developed in an economics driven environment, were selling the largest number of products at the lowest production price was the way it was done. But soon, customers started having choices and the lowest prices were not the most attractive offer anymore; companies needed to deliver value with their products so that customers will prefer them over the competition Technologies today have transformed the market into a world of countless and diverse options; if there were restrictions in different markets, with today’s technology they no longer exist. Customers can purchase instantly from different markets all over the world, and its only one click away. Because of this, the marketing structure needed to be transformed in order to meet customer’s new expectations.

Marketing evolved from having an internal orientation, where products, mass production and profit were the main focus, to have an external orientation, where customer insight, value and satisfaction is the central focus; it evolved from sell power to customer power. What used to be a function on the organization, transformed into a philosophy, and everyone in the company needs to apply it. This new philosophy gained importance, and it is being referred to as the “New Marketing DNA” (Harrigan and Hulbert, 2011). The “Old Marketing DNA”, focused on products, direct competitors and near-term profits. In contrast, the “New Marketing DNA” aims on…...

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