Gurus On Marketing

Marketing now affects profit as well as not-for-profit organisations
and marketing management becomes important for all types of
organisations.
Kotler then goes on to explore various concepts that constitute effective
marketing management. He defines and explains the following
concepts:
Customer value and satisfaction
Methods of tracking and measuring customer satisfaction include
complaint and suggestion systems, customer satisfaction surveys, ghost
shopping and lost customer analyses.
In explaining the concept of customer value he mentions the importance
of value chain (popularised by Michael Porter, guru of strategy)
as a company tool for identifying ways to create value for customers.
The value chain, as introduced by Michael Porter, involves the organisation’s
infrastructure, human resource management, technology,
procurement, inbound logistics, operations, outbound logistics,
marketing and sales and services.
Organisations aim to achieve optimisation of each element of the
value chain. In analysing various elements, for example, inbound logistics
(material handling, inspection, just-in-time delivery), operations
(assembly, testing, processes, physical plant operations), outbound
logistics (order processes, transport), marketing and sales (product
development, pricing promotion, distribution) service (on-site and
off-site, spare parts, customer care); organisations stand to gain insight
not only into their own capabilities but also those of their competitors.
Based on the analysis of the value chain they can prepare an
effective marketing strategy for their goods and services.
Customer relationship
He also highlights the importance and the types of customer relationship.
The basic relationship simply involves selling and buying
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GURUS ON MARKETING