In modern times, nature has given many blessings, but at the same time, we have taken some hardships. Production of medicines has increased enormously. Product has developed differences from the use of automatic machines and advanced types of heavy machines. With the existence of computers and the Internet, global trade has been promoted, and the Cold War has ended. Today’s human beings have the power to eradicate hunger and pandemic diseases from the world.
But in addition to these blessings are enduring and complex issues, such as poverty, religious conflicts, environmental pollution, authoritarian politics, and corruption, as well as weapons of mass destruction.
Given the ground as mentioned above facts, company heads have to face enormous challenges in the future and find a way that has rationality and full utility. There is a risk in today’s strategy, and it needs to be changed into a new one. There are a few facts that need to be addressed.
Global forces will continue to push, which will affect everyone’s business. Each person’s personal life will be changed. Industries will take a more profitable approach, in the way of disciplinary actions that everyone has to bear.
Technology is growing amazingly fast. From the digital revolution, chips are being produced from which attractive homes, sophisticated adornments, and advanced vehicles are being manufactured. We look forward to this morning when the “intelligent machine man” (Robots) will take over all of our work. Some people will visit the space. Instead, the spacecraft will reside.
The traditions of our economic sectors are disappearing. Today’s buyer is free to decide where to buy. In the same way, companies are independent of what is made and sold. This trilateral development, which includes globalization, high-quality technology, and free economic struggle, marks an endless number of opportunities. As John Gardner long ago put it: “Every problem has a hidden subject.”
The importance of marketing has become few in this broader context of globalization. Here are a few essential things to consider regarding marketing management:
The product or service being sold should have the ability to meet 100% of the buyer’s needs. Experts believe that marketers should focus on customer needs.
Philip Kotler says: “The marketing process is not just about satisfying the buyer; it is also important to bring happiness and happiness.” Companies must keep the quality of their marketing system very high. Take the example of McDonald’s. McDonald’s has an average of 68 million people daily in 3,5,000 restaurants in 119 countries. These people don’t come just because they like “hamburgers.” Some companies make more delicious burgers than McDonald’s. Buyers are impressed with the McDonald’s system and visit its restaurant. It is heard all over the world that McDonald’s is a high-quality company that emphasizes quality, service, cleanliness, and value, which is abbreviated “QSCV.”
The product should also have its value – that is, consumer satisfaction, as well as the personality of the goods and services. Experts say buyers consider which company offers more value. He wants maximum amount and wants to get it within his limited knowledge, transportation, and income limits. The buyer can also satisfy his writing requirement with a pencil, ballpoint, pen, or marker, but if a buyer buys a Parker pan, his or her personality is distinguished. “Parker pen” has a higher value than a pencil or ballpoint, which can be met with both types of product when required to write. At the same time, the product must have a Resale Value.