Saturday, August 10, 2019

Postgraduate International Marketing Coursework Assignment Essay

Postgraduate International Marketing Coursework Assignment - Essay Example The article identifies five key issues a company must take into consideration and adapt to in order to participate in the high demanding business field. These are (i) a core value strategy, (ii) development of a clear market strategy, (iii) integrating an Internet-based technology strategy, (iv) managing key organizational process strategy to achieve total integration among business functions (v) and manage change strategy programs in the form of internal marketing (Piercy, 2002). The aim of this paper is to evaluate how the former key issues reflect the constantly evolving changes of the marketplace and how much these contribute to the success of a high standards company. The critical evaluation is based on relevant articles and real-life examples. An estimation and personal viewpoint is supplied at the end of the paper. The key to success as far as value-based strategies are concerned is the constant evolvement and adaptation to offer the customer something new. Recycling of the same product or service over and over again is not competitive in the marketplace anymore. Customer needs call for innovative ideas which treat the customer as a market selling strategies aware person (Piercy, 2002). According to Piercy also, the customer retention relationship, first invented in 1990's, is based on profitability rather than a love level; in this case the customer is viewed as a stupid profit machine that requires little or no attention and is only valued for the profit they leave the company with. The example of Toyota selling cars with no interaction at all with the company stuff is a good example. In this era everything around the customer was about branding; the brand is the selling product and it sells good since customers seem to prefer famous brand which they equate to high performance. Customer need s and tastes however change and a high competing company has to evolve to in order to meet these needs of Relationship Marketing. According to a research value-based marketing for fed-beef cattle using real-time ultrasound and graded animal relations for the selection of animals to slaughter increased profit range of $10.61-27.26 per head from using relations data, $9.04-16.75 per head from using RTU measures and $11.27-27.93 per head from using both to selectively market beef animals. Building a relationship where the customer satisfaction is the core product sells pays off and is the main criterion to a successful company. Value Strategy Value strategy defines monitoring of the customer needs to provide the products a services of importance to them. Value strategy comes in to bring the customer in the focus of the firm selling strategy and off the competition among organizations. The main issues we confront as far as value strategy is concerned is that there is no standard way of estimating the value attached to the customer and even though past techniques are thought as obsolete there are still many companies that have a big with low price products and friendly customer approach. Put in other words, it is really difficult to find the trick that will work for customers. Customers buy on personal values basis: religious, spiritual, environmental, or

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