Category: Marketing Essentials

Key Marketing Concepts

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Defining Marketing and Its Ingredients

“Marketing is still an art, and the marketing manager, as head chef, must creatively marshal all his marketing activities to advance the short and long term interests of his firm”

Neil Borden famously put it in 1984: “Marketing is still an art, and the marketing manager, as head chef, must creatively marshal all his marketing activities to advance the short and long term interests of his firm”. This was when he first coined the catchy phrase “Marketing Mix.” However, back then he was referring to
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Customer Satisfaction

Customer Satisfaction is the new mantra of marketing. Every business wants its customers to be satisfied. Yes, even utility companies and network operators. But what is actually the nature of customer satisfaction – how does it happen? This article examines customer satisfaction through the Disconfirmation Model and showcases its impact on profits, shareholders value and other aspects of business.

Customer satisfaction is a term that is overused in marketing. We all have heard it. We all have experienced it in both ends – satisfied, dissatisfied. We know it has a great impact on profits and shareholders value. And because it sounds so natural and straightforward we all assume we know everything about it. Many
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The Concept of Value

Value is of vital importance to every business existence. The notion of value carries complex socio-psychological aspects. It is dynamic and multi-dimensional, based on tangible and intangible components. Managers that understand the value of their products and services and study the perception of value of their customers are immensely more competitive.

The concept of value is a corner stone in contemporary marketing and modern business. Yet its construct from a customer point of view, which is the marketing and psychological perspective, remains somewhat vague and shallow. Even the academic literature lacks consensus of opinions on what value is made of. Many entrepreneurs and managers also fail
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