Sound Marketing Theory

Paper Summary:

According to this paper, in the age of information many of the fundamental techniques and theories underlying marketing remain unchanged from years past. The paper contends that what remains important is that managers today must first recognize that advertising is just part of the marketing function and must then identify who their internal and external customers are. The author explains that marketing requires a careful assessment of the environments in which these customers exist and says that there is no room for complacency in achieving any of these initiatives. The paper concludes that both public and private enterprises must become true learning organizations that can reap the benefits of past knowledge while identifying opportunities for improvement and capturing additional market shares.

From the Paper:

"All organizations seek to provide their internal and external customers with the best possible mix of quality and service, but many fall short of these goals. While the emergence of e-commerce and its impact of the marketing function have been profound in recent years, many of the fundamental purposes and underlying tenets of marketing remain unchanged. In order to better understand the forces that tend to affect all organizations, though, managers must recognize what issues are important and which are irrelevant or less important to achieving an organization's goals; furthermore, managers must also be able to formulate timely and effective methods of promoting their product or service in an increasingly globalized and competitive marketplace. To this end, this paper will provide an analysis of what means and methods are important to understanding markets and marketing, followed by a summary of the research in the conclusion."

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