Modern marketing now juggles two competing philosophies. The first is Essay

Modern marketing now juggles two competing philosophies. The first is the transaction approach epitomised by the 'Four Ps' o - Essay Example The ancient marketing strategies include direct marketing, the use of free samples, media marketing, sales representatives and Corporate Social Responsibility. In words by O'guinn (2008) the ancient marketing strategies form the basis from which development of marketing is achieved. The above factors shape the two major philosophies of marketing. The two are different in terms of their approach to the consumers. The transactional approach detects its target market then strategically pleases this specific group of consumers while the relationship approach is a generalized approach to the market (Howard, 1997). The approach seeks to impress the entire market by creating stable market with the society. The approach to marketing uses the implementation of the 4p’s of marketing. They are the price, product, place and promotion (Plunket, 2008). The price refers to the pricing of the commodity at a price that is suitable to the consumer are also gather the required profit. The produc t refers to the quality of the product supplied to the market and its presentation to the market (O’guinn, 2008). The place refers to the most suitable location for the sale of their products depending on the nature of the population or a particular area. Promotion refers to the tools of advertising used by an organization. In words by Plunket (2008) this philosophy is a definition of a typical modern marketing strategy. The author further argues that the decisions to research on every marketing aspect before indulging into a market is very important if a marketing strategy is to effective (Tapp, 2008). Additionally, organization using this strategy only put into consideration the most suitable way to lure and please a specific target market. The relationship philosophy dwells on creating lasting relationships with an entire market (Tapp, 2008). Different from the other philosophy, this particular one does not have a specific target market. According to Howard (1997) in imple menting this approach an organization is usually advised to practice an effective Corporate Social Responsibility. This includes participating in charity events, organization social activities like sports day, offering of significant discounts on specific days like holidays and developing infrastructure of a particular region (Plunket, 2008). In an argument by O'guinn (2008) this approach acknowledges the characteristic of human nature. The author argues that, pleasing consumers through incentives may attract the to a business entity faster than using a strategic market approach (O'guinn, 2008). In this case, an organizations success in marketing is greatly dependable on how well it satisfies the appraisal need of human nature. In the modern corporate environment, organizations apply both theories depending on the product the company indulges in, the nature of the consumer market and the competitiveness of a market. It is for this reason that business entities have incorporated the use of decision making theories

Discussion Questions Assignment Example | Topics and Well Written Essays - 250 words

Discussion Questions - Assignment Example If I were to create a code of conduct I would include ethical consideration such as honesty, professionalism, and cooperation. These three traits are essential in any negotiation process. I believe that in theory gender is not suppose to play any type of role in a negotiation process. The fact that the people involved are of different gender is not suppose to matter at all. Of course cultural relativism must be considered when dealing in international negotiations. For example when dealing with parties from countries such as many middle east countries were women do not have the same privileges as men it would not be wise for an American company to send a team of women to negotiate with a group of Arab businessmen who would be bias and would not respect the women. I do not think one gender is better than another, but it is reality that men have had more experience than women over the years due to the injustices of the past which implies that there are more men with the skills and abilities necessaries to succeed at the negotiating