Marketing

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Marketing
Marketing has evolved significantly over the past years due to the dynamism in tastes and preferences of consumers. Technological advancement has led to new ways of production hence brought competition among buyers and sellers. Promotion targets to create value for consumers’. Value is created when the good or service meets the needs of a customer. The impact of marketing on a consumer involves the creation of awareness of a product which will, in turn, lead to brand loyalty and increased sales for the corporation. Given the rise in competition in the business market, advertising is considered to be one of the ways that a firm can attain a competitive edge. Through sales promotion, lasting relationships between buyers and the sellers are established and the firm earns the purchasers’ constancy. Client allegiance is important as an indirect marketing tool in the form of referrals and repeats clients. Alongside sales, publicizing is thus an essential segment of the business that identity’s a gap in the satisfaction of customers’ needs and seeks for ways to effectively meet those needs better than competing practices can. While conducting marketing, firms are required to be on the lookout for changes in political, economic, social, legal, and competition environments.
Customer importance can never be emphasized enough. Forming the backbone of any business, firms should endeavor to formulate marketing strategies that are client based.

Buyers changing the sense of taste and likings greatly affect the direction in which promotion of merchandise will take. Tastes are determined by surrounding factors such as social behavior. For instance, as more people can access the internet globally, businesses have had to shift focus to online marketing as opposed to traditional personal advertising to reach a large number of potential shoppers. In cases of excess demand, firms have turned to tailor made goods to ensure they attain a larger market share in respective industries. Individuals also prefer products that they can access at their fingertips (online business). Those firms that have complied with this change are likely to report positive and increased returns than their counterparts. Customer feedback and customer service are the emerging trends affecting marketing in businesses today. Sales promotion and product development is not the only way that client and brand loyalty can be attained. Studies have shown that people value quality service delivery and are drawn towards organizations that engage personal contact and show concern for their customers.
In the next 5-10 years, marketing will have a significant role in meeting the specific customer wants. Production activities will be tailor made and on order leading to the decline of massive creation. Establishments will use the information gathered from advertising to ensure that they only offer quality in the market through the development of more effective selling strategies. Competition is hence likely to go up giving rise to sophisticated and better goods and services. In the future, therefore, sales promotion will be replaced by a brand campaign where enterprises will be concerned with how to retain existing clients. One way of maintaining clienteles will be to improve on current products for higher consumer satisfaction constantly. Promotion success will be measured based on positive and negative customer feedback. While positive feedback will indicate a successful strategy, negative feedback will, on the other hand, signify failure in the marketing efforts. Businesses should thus ensure that they put in place a practical and effective long term selling plan.