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Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Transcribed Image Text:2. Cite some reasons why contemporary marketing leads to a long-term relationship with customers. (Use the information in the case and your own knowledge.) Marketing strategies aim towards enhancement of sales volume and customers based in the market with brand awareness and positioning. The branding process plays a vital role for in attracting customers by distinguishing the business and making it memorable for customers. Marketing ensures effective use of the product, pricing, place, and promotional strategies for reducing production costs and making the product successful. Thus, all these help the business to get loyal customers for its long-term survival. The reasons for the long term relationships with customers in contemporary marketing are: The contemporary theories of marketing emphasize customers service with consistency and quality. It builds a trustworthy and reliable relationship between the brand and its customers. Thus, it ensures retention of existing customers as well as adding new customers to the brand. This marketing includes technology such as social media for interacting with customers to bridge the communication gap between the business and customers. It is used for providing various promotional information, product information, and other relevant messages to increase brand value in the long run. The contemporary marketing strategy considers the environment and social responsibility, which gives a positive impression of the brand. Thus, am long term loyal customer base is early to develop and maintain. • It ensures making customers feel special and valued by the business by considering customers' needs as a priority. It makes the customers engaged with the product. A good experience with the brand increases the credibility of the business in the market, which contributes to cordial relationships with customers. 3. Based from your answer in question 2, which do you thỉnk is the most important reason?

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