Essay About Customer’S Needs And Theodore Levitt

Review of Literature on Marketing MyopiaBHO6505 ASSESSMENT 1- REVIEW OF LITERATURE ON MARKETING MYOPIA.Technology and Customer’s needs are the two factors which keep changing and those two areas are where the executives must concentrate and review their strategies in accordance to the transformation, and look at the benefit rather than just selling the products, this the theory explained by Theodore Levitt in his HBR journal in 1960, I strongly believe that time has changed but customers behavior and their expectations remain constant, they want value for money, at the same time businessmen want profit for their goods. Till the time these factors rule the marketing strategy, Levitt’s theory will remain appropriate to today’s business, to support my statement. I would like to put an insight of this in detail.

According to Levitt’s perception to the failure of many businesses is due to the fact that the marketers have conceived their business just as the products instead of its relevant function to the customers, for instance Kodak company which was introduced in 1900 remained as the prime name for the quality for filming and camera’s but later its competitor Polaroid entered in the market with new innovation and introduced digital cameras, unlike Kodak remained producing same and “marketed themselves as ‘we make films’, rather than saying ‘we create storage possibilities for memories.’” (Bryan Lukas) and the Polaroid caught the customers attention and niched its place in the market. This illustrates that marketers need to change according to the needs of the customers and update themselves catering to their desires.

In line with the views of Levitt’s Robert F.Lusch and Stephen L.Vargo had another perspective to the marketing strategy, they believed that “competition can be advanced through service” and supported their approach with that of a Service-Dominant logic (Vargo and lusch2004) social media played a prime role to integrate service-dominant logic and a good example for this is the sale of Dell’s Linux laptop, its marketing strategy was mainly dependent on online demand and customized the individual needs which led to an improvised customer satisfaction, hence such service orientated businesses always achieve success in today’s techno world. As people demand for reliable service apart from quality products. Another aspect of this journal has emphasized on 4P’s and a

4P’n3 in the way for a different time period. The first post about the topic on www.vlad.com in December, 2013, said that it was very common to find some businesses that was selling a laptop with a good internal logic and so on, and many businesses had to sell an entire laptop for a similar price, as it was said to have been very successful. This followed later on with some other post on “How to sell an online and personal digital identity”.

With the acquisition of Dell, I believe we are seeing these kinds of trends, especially in the Internet marketing space, in the last few years with companies like Red Hat and others taking big risks. In my opinion, one of the problems we have to face is: When the price of services and services is going to change, especially in its price to quality of service, do you think users will be willing to pay for different services, a new product or a different brand based on different needs and needs, and still accept, as an added revenue stream, one service-dominant solution or even one that has no core features? I think when we have strong solutions in place, and a solid brand, we can have long-term positive trends. This is not an answer alone but one that comes from the concept of Service-Dominant. Our goal is to take to the future even as a company we know a great product but we must do it in a way that is compatible with what the customers crave. Whether I will be selling my home at a cheaper price or using the right kind of device, a brand, a platform, or all three, to my customers, I would encourage them to choose something that is not on their current budget, as good product and is still capable of providing the customer with the highest quality and value. This is more than just a marketing strategy: We want to change the way these companies run and understand these customer’s different needs, desires and wants. We want to attract and retain customers. In a business that is evolving and changing so many times in the last few years I would predict that I’ll still meet customers at higher margins. It is this same dynamic that is going to help us continue to do it.