The article talks of the importance of the customers in today's ultra-dynamic business environment, and the importance of developing relationships and bonds with them in order to retain them in the longterm.
"Marketing is a societal process, by which individual groups obtain what they need and want through creating, offering ..."
"Marketing is a social and/or managerial activity to identify needs and wants of customers..."
Marketing has always been defined with reference to the customer as an integral part of the society. When marketers talk of the society, they mean to say human factor i.e., the relationship that emerges due to the emotions, sense of belonging, love, care etc. The ultimate aim of every organization is to create and sustain brand-loyal customers, and the loyalty is often created by exploiting the human factors inside each of us. In Maslow's Theory of Hierarchy of Need, five levels have been defined in order to identify the needs and wants of the customers. When the needs and wants of the essentialities are satisfied, our needs of emotions, sense of belonging etc., start playing their role. In today's cutthroat competition, fast-changing technology and changing consumer's tastes and preferences, for surviving and sustaining profitability, it is important to develop relationships and stronger bonds with our customers; the most obvious reason of developing relationship is social involvement of customers. |
