Examine the view that marketing theory and concepts portrayed Essay Example

derived from discovering opportunities where something can be obtained without requiring any investment; essentially getting something for nothing (Krieger, 1973, 48).

Over time, the concept of marketing has undergone significant changes. In today's business world, the customer takes precedence. Not all businesses in the past followed this concept; instead prioritizing other factors over their customers. This shift is exemplified by moving from a focus on producing superior products based on quality and features to centering around customer needs. Previously, businesses assumed that customers would naturally like their products because of their quality and featuresHowever, in today's market, customers have the power to decide which products they prefer. The sales orientation approach involves creating and selling a product or service to the target market. However, this can be problematic if consumers do not like what is being offered. As a result, companies now conduct testing with a small group of the target audience to ensure customer satisfaction.

The concept of market orientation has always prioritized customers. Companies strive to understand their needs by using appropriate research methods. The purpose of these methods is to collect and use customer information in order to understand the interests of the target audience. Some marketers may fully embrace the marketing concept or APS (although not explicitly stating it). Gasworks and Kohl also discussed the limitations of the marketing concept.

The SEEM approach focuses on networking with stakeholders and understanding customer needs. It is characterized by cost-effective marketing strategies such as word-of-mouth and is often seen in smaller firms that are close to their customers. Establishing an APS, targeting a specific market, and positioning themselves appropriately are crucial for companies in order to succeed.The

planning and execution of these steps are crucial for guiding small businesses towards success. The differences between traditional market literature and newer concepts popularized during that decade were mainly due to the addition of ideas, such as Cunning and Still's analysis of the 4 Up's of marketing and the belief that marketing is a subsystem of business (Cunning, E. W., Still, R. R., 1976).

The fundamental principles of marketing apply to both large and small businesses. Research on marketing in Seems has been problematic for over 20 years (Chasten and Mangles, 2002; Sis and Kirby, 1998). In practice, Seems marketing is primarily done through networking (Gilmore, 2001) or a combination of transaction, relationship, interaction, and network marketing (Broodier, 1997). Recently, Internet marketing (Chaffed, 2000) or e-commerce (Rapport and Gasworks, 2001) has gained popularity in all types of businesses including Seems.

Marketing in small firms heavily relies on personal contact networks (Hill and Wright,

2001; Gilmore,

2001;

Broodier

,

1997)

and is often influenced by the manager's individual business approach.Gilmore (2001) suggests that marketing in Seems tends to be chaotic,
informal,
loose,
unstructured,
spontaneous,
reactive,
and in line with industry norms.
Gilmore (

)

found that networking leads to high levels of communication between Seems managers and their competitors which goes beyond what is typically reported in marketing literature.In addition, competing firms may mutually support each other. Similarly, the act of building relationships with customers through networking typically revolves around a few key individuals. If these individuals were to depart from the

company, the relationship would be severed.

It is essential for SEEM owners to grasp the significance of cultivating relationships for their company's success. They dedicate significant time and effort towards maintaining favorable relations with regular clients (Gilmore 2001). The foundation and preservation of effective networking revolve around maximizing marketing opportunities and ensuring the survival and positioning of the enterprise (Gilmore 2001). In today's ever-changing business market, having a presence is vital in order to meet customer needs.

The fortunes of many well-established firms have experienced a reversal. It is believed that a majority of troubled and recently failed companies have been let down by their own marketing strategies. Traditional marketing is currently undergoing transformation. The previously accepted ideas regarding marketing and branding strategy are no longer valid. A small but growing number of innovative companies have embraced new and distinct approaches to marketing, reflecting an evident shift in global culture.

In this era of globalization and the Internet, consumers are exhibiting radically different behaviors.The marketing landscape has evolved, rendering traditional tactics ineffective. In today's era, a new type of competition emerges, contradicting conventional practices and emphasizing the importance of networking and customer attraction. Unfortunately, many experienced corporate executives are unaware of these dynamics and face consequences. While fundamental marketing principles apply to both larger firms and SEEMs (Small, Emerging, and Entrepreneurial Businesses), certain theories, tools, and techniques may not benefit SEEMs as much. The marketing approach in SEEMs is primarily influenced by the entrepreneur and the business itself. Although not all small businesses fully integrate marketing theories and concepts, they inevitably encounter them during market research.