A managerial approach to marketing Essay Example | Topics and Well Written Essays - 2250 words

A managerial approach to marketing - Essay Example Competitive pressures to deliver specific products to meet consumer demand have changed the way the products move from the producer to the consumer. Any company has to adopt new marketing strategies in order for it to survive in the ever competing environment. The marketing landscape has shifted in that technological innovation, new channels, regulatory compliance, bottom-line accountability and rising customer expectations are altering the playing field. Marketing managers are unraveling these complexities in order to spearhead initiatives that capitalize on the customer-driven market place. It is important to place the customer at the core of strategic decision making hence marketing managers can better align marketing resources, spend, mix and technology investments. Strategy and technology can then coalesce to profitably meet customers’ needs, which enhance brand performance, increase customer value and position the enterprise for growth capability of outpacing competitors. This strategic brief addresses central issues on the minds of today’s marketing managers. As technology advances and consumers gain clout, traditional batch and blast marketing approaches designed to maximize new customer acquisition without regard for customer needs and long-term value will under perform. Launching marketing programs around new products for short-term revenue wins will not be enough to sustain returns and surpass competitors. Technological innovations are constantly altering the playing field. Analytic solutions are bringing new levels of customer intelligence, allowing marketers to understand individual customer needs. Optimization tools have increased marketing velocity and shortened cycle times. Consolidated, clean customer data stores can be matched with event-based campaign management tools to improve message accuracy, timeliness and relevancy. As technologies come to