Page 29 - DMGT408DMGT203_Marketing Management

Marketing Management/Essentials of Marketing

Notes The need is to strike a balance between the interest of customers, the company itself, and the
society in which operations are conducted. Some responsible firms have started using recyclable
packaging materials and products that do not harm the environment. Among the marketing
tasks, demarketing is an approach that reflects the societal marketing philosophy.
Many companies encounter several hurdles in adopting the marketing concept. For some firms,
it is simply too difficult to understand the underlying philosophy and they fail to implement it.
Other companies face a conflict between short-term and long-term objectives and have no
inclination to sacrifice short-term gains for the sake of customer satisfaction, simply because the
customer is not the major priority of top management.

Example: The route taken by TATA Steel in their recent promotions is that of Societal
marketing, in which the company is trying to make the society believe in it and its efforts of
improving the society and providing the people from the society a chance to realize their
dreams and get a status in society and thereby gaining the acceptance from the society. Examples
ranging from that of Bachendri Pal – First Indian woman to scale Mount Everest (Head of TATA
Steel Adventure foundation), then Commonwealth Games Archery Gold medalist – Deepika
Kumari, of their Tejasvini Project in which the women have been provided empowerment by
providing them jobs in works mainly believed in society to be suited to be done by men, and the
ad showing their Chief of R&D Mark Denys sharing his experiences about how R&D is the
success mantra at TATA Steel.
Self Assessment

Fill in the Blanks:
16. Relationship marketing is based on the principle that current customers are key
to………………………………
17. Among the marketing tasks, ………………………….is the an approach that reflects societal
marketing philosophy.

Case Study Why Marketing has Changed?

f you've been involved in any kind of Marketing, Advertising or Sales the past 3-5 years,
you'll notice that your job of getting prospects, leads, and customers is getting harder
Iand harder. This case is designed to help you understand the major shift in marketing
that is currently underway and how to change direction in your business advertising efforts.
You've probably noticed...the ads you've run in the newspapers don't seem to make your
phone ring anymore. Magazine ads that used to make your phone ring off the hook, still
work, but need to be driven to an effective website that captures leads, or it's tough to
break even on the cost. Those expensive ads in the phone book just seem to cost more, and
you rarely get the results you were looking for. The same effect of diminishing returns is
happening with television and radio advertising as well. The major shift in marketing to
online advertising on the Internet is already well underway, and the sooner you understand
it, and apply it to your business, the better!
If you've been involved in home-based business, or network marketing, or online business,
those rules have changed as well. More competition, newer technology, all make navigating
the future much more of a challenge than one would expect.
Contd...

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