Marketing Marketing And Customer Satisfaction - 1980 Words

Basically, marketing is a commercial connection between companies and customers that aims to engage customers and to manage the superior profitable customer relationship. The American Marketing Association (2013) defined that marketing is a set of activities of communication, distribution and exchange for creating the value for customers and society at a large scale. Like the majority of consumer markets, the automobile market has faced to the challenge of products’ overcapacity over the past decade and confronted a pressure to reduce the sale price. At the same time, many car manufacturers emphasise the brand content and brand value to outsmart the competitors. In order to gain the maximum revenues from customers, manufacturers are†¦show more content†¦2. Rationale for the selection of the marketing concepts 2.1. Concept 1: 4P’s model (product, price, place and promotion) Product, price, place and promotion (called 4P’s) are the marketing mix which refers to a series of situations that a company uses to develop its products or services in the intensive competitive market. McCarthy (1960) first suggested the 4P’s model of marketing – product, price, place and promotion and emphasised that this flexible model was essential for the marketers to generate a marketing plan and implement it in a cost-effective way. It is an opportunity that marketers could seek deeply products or services to satisfy customers desires and demands. 2.2. Concept 2: Customers satisfaction Customer satisfaction is to meet customers’ expectation according to measuring of products or services’ value and it provides a chance for company owners or marketers to ensure what customers want and what they can improve. For most enterprises, the rank of customer satisfaction is very helpful for managers to meet and exceed customer satisfaction and predict the potential crisis that affects the company’s revenues and brand reputation. As the important perspective of customer relationship management, marketers are supposed to pay more attention to how to satisfy customers. â€Å"Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty† (Farris et al., 2015, p.15). 3. Discussion and