Running head: ARTICLE REVIEW 1

Article Review

Tamika Wallace

Bellevue University

Professor Larry Deaver

Article Review 2

MARKETING: how do we identify, entice and add value for customers?

For the firm's constant improvement, satisfying a customer is the most essential and

never-ending process. To earn long-term profitability and sustainability, a firm needs to

understand its customers' relationship with the company and its product and how those

relationships develop or deteriorate over time. A satisfied and/or loyal customer – a "captured"

customer – is, in simple economic terms, an asset that yields future cash-flows and contributes to

a firm's future growth.

Summary

Satisfying a customer is a never-ending process for the improvement of the firm. To

appeal to their chosen target markets and to a potential customer, managers strive to configure

the best product-service offers. In any firm, marketing is thriving by the efforts of its marketing

manager. A marketing manager's role is to focus the company's efforts on identifying, satisfying,

and following up on its customers' needs - all at a profit. Market research is an essential part of

a marketing manager's job. A marketing manager needs to view business from the perspective of

the customer.

Any research assignment is a systematic gathering, recording, and analysis of data related

to a subject or problem you would like to understand. Market research provides us with the

answers to satisfy our customers. Therefore, every business must work out exactly who its

customers are and create value for them. Marketing involves the action for competing in the

marketplace. The 4 P's of marketing are product, price, promotion, and place, or distribution

channel. The market segments include geographic, demographic, and psychographic. A

company's marketing strategy has one goal: to deliver value to customers while making a profit.
Article Review 3

Sales forecast predicts how many units of a product will sell in the future and is crucial to any

business.

Critique

A key to a successful business is having a great marketing strategy. Marketing aims to

know and understand its customers' needs and how the products and services fit them. So

marketing includes everything that a firm does to satisfy its customer needs. The philosophy of

satisfying customers' needs while meeting organizational profit goals is called the marketing

concept and guides all of an organization's marketing activities. You need a marketing strategy to

put the marketing concept into practice. Instead of reaching an entire market, a brand uses target

marketing to put its energy into connecting with a specific, defined group within that market. So

this is a targeted market.

The development and implementation of a marketing program involving tools called the

marketing mix, are referred to as 4 P's: product, price, place, and promotion. A marketing

manager needs to do marketing research before developing a marketing strategy. Sales forecast

predicts how many units of a product will sell in the future and is crucial to any business. It

involves assessing how a company will perform in a given period. What a customer chose is

what matters in marketing.

Application

Focusing on the customers' needs and wants so the organization can distinguish its

products from competitors' offerings. Products can be goods, services, or ideas. Integrating all of

the organization's activities, including production and promotion, to satisfy these wants and

needs. For achieving long-term goals for the organization, it is essential to fulfill a customer's

desires and needs legally and responsibly. For the success of your firm, create customer value.
Article Review 4

Try to build a long-term partnership with your customers by making the best marketing

strategies. Identify consumer needs and wants and then produce products that will satisfy them

while making a profit. Customers are the lifeblood of any business. They are the source of

current profits and the foundation of future growth. By making the best marketing strategies, find

more ways to grow your business by better serving your best customers.