Marketing's Significance in Developing Customer Relationships Report

This report examines the importance of marketing in fostering customer relationships. It begins with an introduction outlining the background, aims, and research questions, followed by a literature review that defines marketing, its significance, and theoretical approaches like the Ansoff matrix and consumer decision-making process. The report also explores the importance of developing service standards. The research investigates the impact of e-marketing on decision-making, the role of marketing in improving customer relationships, and provides recommendations for addressing current marketing challenges. The report concludes by summarizing key findings and offering references.

Running head: IMPORTANCE OF MARKETING
Importance of marketing in developing customer relationship
Name of the student
Name of thee university
Author note

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Table of contents
1.0 Introduction................................................................................................................................2
1.1 Background of the research....................................................................................................2
1.2 Aim and objectives of the research........................................................................................2
1.3 Research question..................................................................................................................2
1.4 Problem statement..................................................................................................................2
2.0 Literature review........................................................................................................................3
2.1 Concept of marketing.............................................................................................................3
2.1 Importance of marketing........................................................................................................4
2.2 Theoretical approaches of marketing.....................................................................................5
2.2 Importance of developing service standard...........................................................................9
2.3 Elements for improving service standard...............................................................................9
3.0 Conclusion...............................................................................................................................10
4.0 Reference list and bibliography...............................................................................................12

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1.0 Introduction
1.1 Background of the research
Marketing has become an essential business component in the current business scenario.
Due to changing needs and demands of the customers, it has become necessary for the
organizations to adopt an effective marketing strategy for sustaining in the market (Shankar et al.
2016). By driving the sales process in the company, marketing helps to understand the business
environment in the workplace. Marketing plays an important role for increasing the values of
thee stakeholders in the workplace
1.2 Aim and objectives of the research
 To identify the emerging marketing trend as well as analyze positive and negative impact
of e-marketing on decision making process
 To analyze the role of marketing in case of improving the customer relationship standard
in the organization
 To provide measurable recommendations for dealing with current marketing challenges
1.3 Research question
 What are the positive and negative impact of e-marketing on decision making process?
 What is the role of e-marketing in case of improving the customer relationship standard
in the organization?
 What are the recommendations for dealing with the current e-marketing challenges?
1.4 Problem statement
Due to emerging challenges in the market, customer satisfaction has become necessary
for sustaining in the competitive business environment. Sometimes, due to lack of understanding

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of the marketing initiatives, the dissatisfaction among the customers has been increased
(Leeflang et al. 2014). After introduction of effective e-marketing strategies in the market, not
only the positive image but also negative impression regarding the brand has been increased
among the customers. Some of the cases, due to lack of understanding of the customer demand,
the marketing initiatives are impacting negatively on the customers mind. Some of the cases,
marketing is affecting emotional values of the customers, which is making its acceptance more
complicated.
2.0 Literature review
2.1 Concept of marketing
As stated by Choi and Cai (2018), the term marketing indicates one kind of business
action that helps to sell and promote the services and products of an organization. In another
word, it can be said that marketing is about communicating, creating and delivering the effective
values to the customers. Marketing is the process in which the company gets the chance to
develop standard relationship with the customers. Hence, it can be said that marketing is one of
the primer component in business management. By driving the sales process in the company,
marketing helps to understand the business environment in the workplace. In the words of
Mascarenhas, Higby and Gale (2015), marketing plays an important role for increasing the
values of thee stakeholders in the workplace. By developing the strong relationship between the
stakeholders and employers, the marketing strategy of the organization helps to gain competitive
advantage. By bringing a new product in the market, the first impression of the product on
customers’ mind gets developed depending on the marketing initiatives adopted by the marketers
(Bamford et al. 2018). Marketing is the process that can help to satisfy the objectives of
organizations. By satisfying the needs of potential customers, marketing helps to increase the

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sale revenue in the organization (Leung, Bai and Stahura 2015). By following thee channel of
marketing, it becomes easier for the marketers to make money and reach at the goal. Marketing
is important for developing a song brand image in the market. In order to drive the decision
making process of thee customers, it is very effective.
2.1 Importance of marketing
There are various benefits of marketing for driving the business growth. As stated by
Sousa, Krot and Rodrigues (2018), in order to transfer as well as maintaining the movement and
exchange of goods in the workplace, marketing is required. Through the effective marketing
process, services and goods are being available to the customers. By developing effective
relationship between the customers and manufacturers, the needs and demands if the customers
are being analyzed. By adding designs to the products of the company, marketing helps to
develop a clear image on customers’ mind. Marketing is also beneficial in terms of maintaining
as well as raising and maintaining the living standard of community. By arguing this
Mascarenhas, Higby and Gale (2015) stated that marketing helps to maintain the uninterrupted
supply chain and provide the products to the customers in reasonable price. After introduction of
latest marketing techniques, different income level of people are being able to able the services
in reasonable prices. It cannot be denied that after the introduction of different marketing
techniques in the market, the rate of employment has got flourished (Grimpe, Chatterjee and
Bhargava 2014). After the introduction of various marketing tactics in the market, the
importance of marketing related functions such as financing, standardization, transport and
warehousing have been increased. In that case, the recruitment and selection of large numbers of
employees have been increased. Due to increasing employment opportunities marketing has
become the major contributor in increasing employment rate. Depending on the performance of

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marketing functions, the income revenue of the company is being generated. By introducing
effective marketing strategy, it becomes easier for the organization to develop strong image on
customers mind. On the other hand, by arguing this Cooper, Ezzamel and Qu (2017) stated that
marketing is being considered as the activity for obtaining the profitability through business
action. In order to drive basic market decisions, marketing plays an effective role for driving the
decision making process. New ideas are being developed through marketing initiatives in the
market. By following the changing needs of the customers, the marketing initiatives helps to
bring innovation in the industry.
2.2 Theoretical approaches of marketing
Ansoff matrix
Ansoff matrix is being considered as an important strategic planning tool used by the
business management. It helps to provide a clear framework of marketing to managers, which is
applicable in case of both the new and existing market.
Figure: Ansoff matrix
(Source: Yin 2016)
In the above diagram, Ansoff matrix has been described. The box has been divided into
four section. In the above diagram it is mentioned in case of entering in the new market with

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existing product, the market development strategy needs to be followed by the management.
Differentiation strategy is being followed when the company develops a new product in the new
market. In this case, different customer segment is being selected. Although economic risk in this
case increased, but, by successfully implementation of the strategy, business outputs can be
increased in the economic scale (Bamford et al. 2018). Market penetration strategy is being
followed in case of developing an existing product in the existing market. In most of the cases,
product prices are being decreased. On the other hand, merge and acquisition is being followed
in this stage. Existing products are being introduced in the modified manner. Product
development is another important element in the Ansoff matrix. In case of developing a new
product in existing market, the product development strategy is being followed. In this case,
research is being done before investing on the product. Here the company provides the product
details in the market through different marketing tools.
Balanced scorecard
The balanced Scorecard is being considered as an effective process for achieving the
goals and objectives of the organization. Mostly the balance scorecard is being used for
controlling thee business actions (Gibbons and Kaplan 2015). It helps to determine the
performance management initiatives in the workplace. Analyzing the critical characteristics of
balance scoreboard, it has been identified that it helps to focus on examining the strategic agenda
of the company (Dawes 2018). Through this process both the financial and non-financial
business information are being maintained. Analyzing the function of balance scorecard, it can
be said that it helps to manage the business data and increase the ability for making a corrective
intervention process in the workplace. In most of the large firms, the balance scorecard strategy
is being followed for maintaining the effective business practices.

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Consumer decision making process
Consumer decision making process is being considered as the complex process in e-
marketing. In this process, different stages of purchase activities are being analyzed. It cannot be
denied that due to increasing economic and social opportunities, needs and demands of the
customers have been changed. Due to various needs of the customers, decisions of the customers
gets changed. Depending on the purchasing behavior of the customers, the consumer decision
making process has been classified into 5 stages.
Problem recognition
Problem recognition is being considered as the first stage in which individuals can
identify the difference between the desire state of affairs and actual state of affairs. In this case
both thee physical and psychological needs are being involved (Choi and Cai 2018). Depending
on the emotional feelings of the customers, the problem recognition process is being done. In
other words, problem recognition is thee process in which the human needs and demands can be
easily satisfied.
Information search
After recognizing the needs, product relayed information are being searched by the
customers. By contributing in the search process, knowledge regarding the products or services
can be increased. The information search process can be classified into two parts, such as
External and internal search. In case of internal search, the products are being compared by the
customers depending on their previous experiences (Cooper, Ezzamel and Qu 2017). In case of
external search, the information are being gathered by taking the advice from others. In this case,
friends and family members play an influential role.

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Evaluation of alternatives
After collecting the information regarding the particular product or services, people
compare the information in order to make the right choice. In this case, product price, quality and
quantity are being observed. Depending on the needs and wants of the consumers, the decision
making process is being done (Karimi, Papamichail and Holland 2015). It cannot be denied that
the comparison process is quite hard as it is being done depending on the information collected
by the customers (Wang et al. 2014).
Purchase decision
After the completion of evaluation and search process, the final stage of purchasing is
being introduced. In this stage, the consumers make the final decision depending on the
information collected by the person. The purchasing decision may vary depending on the process
of purchasing (Wang et al. 2014). The purchase process can delay if the customer decide the
purchase the product through online. On the other hand, by visiting the stores, the products can
be purchased.
Post purchase evaluation
This stage is being considered as an important stage in consumer decision making
process. In case of small organizations, this stage is being ignored after the completion of the
final transaction process (Tiburski et al. 2015). This process is being observed for gaining the
long term benefits. In the post purchase evaluation stage, the feedbacks are being collected from
the customers for understanding if they are satisfied with the service or not.

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2.2 Importance of developing service standard
Not only for the customer benefits, but also service standard is needed to be developed
for bringing the organizational growth. In order to gaining the customer loyalty, it is very
important for the organizations to provide standard quality of services to the customers. By
developing effective service standard in the workplace, efficiency of the employees can be
properly maintained. The service standard can be defined depending on three categories such as
timeless, accuracy and appropriateness. Maintaining thee transparency between the organization
and customers is very important for improving the service standard. By providing the accurate
information regarding the company, service standard can be improved. It is very important for
the organizations to provide its services within time, so that efficiency of the employees can be
easily noticed (Cooper, Ezzamel and Qu 2017). It is true that in order to increase efficiency of
the employees, it is very important for implementing Just in time technique in the workplace. On
the other hand, in order to increase the appropriateness in the workplace, it is very important for
the companies to ensure the customer expectation in the right manner. It is very important for the
organizations to improve the service standard for gabbing large numbers of customer attention. It
cannot be denied that depending on the analysis, it has been identified that service standard is
needs to be maintained positively for bringing the financial opportunities.
2.3 Elements for improving service standard
In order to introduce an effective service standard in the workplace, employees play an
effective role (Cooper, Ezzamel and Qu 2017). By developing proper interaction between the
customers and employees, it becomes easier to understand the needs and demands of the
customers. Depending on the dedication of the employees towards achieving the goals and
objectives of the company, service standard can be achieved. Depending on the expectation of

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the customers, the effort is being done by the organization (Akkermans and Van Oorschot 2018).
Competitive information is another important element in case of improving the service standard.
By monitoring the competitive information, it becomes easier for the organization to introduce
effective service standard. In order to generate the excellent service standard, it is important to
analyze the existing potential customers in the workplace. Regulatory authority plays an
important role for setting the service standard of the company. If the regulatory authority can be
able to develop strong policies, it can help to improve the service standard in the workplace.
3.0 Conclusion
In this research, it can be concluded that e-marketing is being considered as the effective
element in the business process. Depending on the e-marketing tactics, the quality integrated
decision making process in the workplace can get influenced. It is very important for the
researcher to develop an effective business communication process, so that proper interaction
between the employers and customers can be maintained. In the literature review, it has been
identified that different marketing strategies impact on the customer decision making process in
different manner. In the Ansoff matrix it is clearly mentioned that situation analysis is necessary
for entering in the both new and existing market. Depending on the situational analysis, rate of
productivity as well as business challenges can be driven. Marketing plays an effective role for
developing relationship in the workplace by bringing the integrated quality management system.
Analyzing the balanced scorecard method, it can be said that it is beneficial for monitoring the
strategic agenda of the organizations. By continuing this it can be said that improving the
controlling and monitoring process in the workplace, it balanced scorecard is important. At the
end of the study it can be concluded that with increasing opportunities in the industry, rapid
changes in marketing trend has bought various opportunities in the market. E-marketing has

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brought improvement in the rate of employment in the country. After the introduction of various
fields of marketing economic as well as the social opportunities have been increased.