majid khan

Well, marketing has become one of the most widely accepted
activity in the world. It is an activity of the satisfying customer needs by
creating superior customer value and delivering higher satisfaction. Selling
and marketing considered to be only the component of marketing. But in today’s
life marketing is something else. Marketer has to understand the customer needs
and to design a product that provides him superior customer value with
reasonable price along with the distribution and promotion activity. Marketing
process is to create superior customer value and capture value in the shape of
sales and profits etc. Customer driven marketing strategy has to be designed by
marketing management. In marketing management we try to select target market
and build strong customer relationship.

The company can serve customer well by market segmentation. Any
company cannot serve all types of customers that is why they do choose target
markets and create superior customer value and deliver to them in return they
capture value. Value proposition tells any customer that why he should buy any
product. Each single concern may have separate philosophies. For instance, if
any concern has the philosophy that if they produce on large scale the minimum
will be the cost and the goods will be sold out conveniently. Customer
relationship management is a process by which company builds and keep on
profitable customer relationship by promising superior customer value and
satisfaction. Satisfied customers are more loyal and gives to the business a
huge share of their business. The next step is customer satisfaction the limit
to which a product do performance to meet the buyer expectation. In case of
building relationship with customer level and tools are given there, which
depends on the nature of target market. Every company tries to seek and develop
relationship with customer. It is all about creating customer value and
relationship. In today marketer don’t work alone. They have to work with the
other marketing partners. Marketer must have also a great partner relationship.
That partner can be inside and outside the organization.

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Next is capturing value from customers in shape of sale and
profits etc.  Customer lifetime value by
maintaining great customers to capture customer life time value a share of
customer can be enhanced by maintaining good customer relationship. Customer
equity may be the entire gathered customer lifetime value of entire corporations
of existing and potential customer.

The world has been digitized. New marketing strategies come into
existence in the market land scape. Computer technology has changed the
evolution of business since last three decades. One of the example is internet
which has became a global village and connected billions of people with this
which has made the marketing process easy and stiff as well. As marketer are
faced with new strategies every single day. So the marketer has to be updated with
new strategies to fulfill the scarcity of marketing.

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