Marketing is Everything – Article Example
The paper "Marketing is Everything" is a good example of a marketing article review. Marketing underwent a historical breakthrough in the 1990s when companies realized there was much importance in concentrating on customers (McKenna, 1991). Through technology, the world market was reduced to a global village in which satisfactory was achieved even with customers being far away from the manufacturers. Through a realization, marketing, which was previously based on turning production volume into money, has transformed into a necessity for the survival of salesmen.
First class technology and increase in competition has so far forced many companies to change their approaches. Instead of concentrating on company profits, successful companies prefer being customer oriented (McKenna, 1991).
Through this, they believe they can shape their products and attain a competitive advantage. As a matter of fact, being a leader in the market requires a company to own the product. This means businesses are taking up new approaches; knowledge-based and experience-based types of marketing, which incorporates technology in analyzing the market share, customer base and returns as well as competitors. Take an example of IBM, at the very beginning; it only had about 20 competitors in the computer industry. Currently, it faces stiff competition from 5,000 other companies in the same industry. To remain at the top, IBM has to identify its market share and concentrate on it. Marketing has evolved from tricking customers to fully providing satisfactory services to customers. It has become the only successful way of doing business because its sole goal is reaching out for the customers, communicating with them and ensuring satisfaction. Some U.S. companies however get lost along the way. They fail to control the excitement associated with creating new products and selling them in large volumes to outshine their competitors. Such moves prove suicidal to business growth. Excitement limits the company by focusing on internal affairs while ignoring external events especially from a customer’s perspective. Overproduction can turn marketing into a very expensive affair especially in places where competitors have already established roots. In my own opinion, marketing is a continuous process, which requires keen involvement of both the customers, key stakeholders and the company management. Failure by any of these parts can result to fatal losses. Companies have to identify what they can comfortably lead in the market instead of being greedy and absorbing every little portion. Competition can submerge them within seconds. It is also important for business entities to distinguish between selling and marketing their products. This is where many go wrong without realising.
Marketing is all about being an owner and not just selling off what is produced. Just like any law, markets have a similar concept. Not all markets have the same capacity. They exhibit different survival phases; conceptualization, product absorption, flourishing and death. Therefore, by companies understanding and perfectly defining their market, they can overcome the ever growing competition. Serving and satisfying a customer is the primary goal in marketing.