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Essay / Research Paper Abstract
This 7-page paper discusses the concepts of traditional marketing (the marketing mix, 4Ps) as compared to the more consumer-centric customer-targeted marketing (also known as relationship marketing). The paper also discusses how an organiztion needs to change its behavior to embrace customer targeted marketing. Bibliography lists 7 sources.
Page Count:
7 pages (~225 words per page)
File: D0_MTtrcumk.rtf
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Unformatted sample text from the term paper:
one another. One way in which many companies are moving is toward customer-targeted marketing, also referred to, sometimes, as relationship marketing. But moving a company from a traditional marketing approach
to a customer-targeted marketing approach involves changing organizational behavior to better accept the customer, rather than the product, as a central focus of any plan. How, then, does a company
strategically move from traditional marketing approaches to those encompassing customer targeted marketing? Introduction Marketing, in and of itself, is considered an
"ancient practice," with the "intellectual study" of marketing being old as well (Ambler, 2005, 50). The concept and function of marketing has always existed, but most business historians believe that
"marketing" was used as a noun during the early part of the 20th century (Petrof, 1997). Close to a century after that,
the introduction and acceptance of the Internet, with its World Wide Web, along with the challenges of trying to target customer needs in a 24/7 market means that many companies
are moving from the more traditional marketing approach that has sustained business for the better part of a half a century to an approach that better targets the consumer (Chan,
2004). However, many companies are finding that the traditional marketing mix just doesnt work any more, partly because companies are realizing that
the 4Ps, which focuses more on obtaining customers through mass marketing, simply isnt effective (Wehner, 2000; see also Shani and Chalasani, 1992). Therefore, many companies are attempting to implement customer
targeted marketing plans by identifying specific segments, growing and retaining existing customers and rewarding the customers desired behaviors (hopefully, the behavior involves purchasing the product or service) (Wehner, 2000).
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