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You will prepare and submit a term paper on Strategic Marketing is Inadequate unless it Encompasses Social Corporate Responsibility. Your paper should be a minimum of 1750 words in length.
You will prepare and submit a term paper on Strategic Marketing is Inadequate unless it Encompasses Social Corporate Responsibility. Your paper should be a minimum of 1750 words in length. Globalization contributes to the tight competition in the global market today. For many years, marketing managers have been carefully establishing a strategic marketing plan that is effective in enabling a business to be successful in the global markets.
Customer satisfaction is one of the biggest areas being focused on modern market research since satisfied customers could eventually lead to customer loyalty. (Szwarc, 2005) It is said that companies that are able to gain the most customers’ loyalty are usually the ones that are successful in grabbing the biggest market share. For this reason, organizations today are heavily investing in unique marketing activities and programs such as corporate social responsibility with the goal of retaining their current pool of customers. Specifically, the tight competition in domestic and global markets encourages businesses today to view customers’ loyalty as an important factor in sustaining the constant increase in the company’s profit and market value.
There are several ways in which a business organization could satisfy customers. Increasing the customers’ satisfaction is not only dependent on marketing communication such as traditional advertisements on the television or print advertisements in the newspaper and magazines. Today, it is more important for the marketing managers to meet the specific needs and satisfaction of the customers rather than spending a huge amount of money on the ineffective traditional marketing approach. In short, successful business organizations are the ones that could base the marketing strategy more than meeting the common demands of the customers such as providing them with “100% available products” including the capability of the company to offer the product at a reasonable price. (Szwarc, 2005)
It is normal to achieve customer satisfaction when a company is committed to delivering good quality products and services. (Luo and Bhattacharya, 2006) .
