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A Marketing
Strategy[1][2] is
a process that can allow an organization to concentrate
its (always limited) resources on the greatest opportunities
to increase sales and achieve a sustainable competitive
advantage.
Marketing is the process of performing market research, sellingproducts and/or services to customers and promoting them via advertising to further enhance sales.[1] It generates the strategy that underlies sales techniques, business communication, and business developments.[2] It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.[2]
Marketing is used to identify the customer, to satisfy the customer, and to keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries.[citation needed] The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.[citation needed]
The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.[3] It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.[3]
Instead of selling products or services separately, innovative
companies can bundle them into combinations that are more
valuable than the simple sum of their parts. Consumers will
pay a premium for such “lifestyle solutions,”
and they will remain highly loyal to those that deliver real
value.