Marketing is the process of communicating with the customer and inducing in him the knowledge of the product. If the product features match the customer’s need, he would eventually be convinced buying it. In other words, marketing is the process of understanding the customer preferences and providing him with what he wants. But the preference of a customer depends on the nature of the product and not the nature of the business of a company. Hence it is the kind of contemporary approach towards a customer that makes the whole difference. This is where companies have been constantly working on finding the unique ways to please a customer and retain his loyalty.
The contemporary approaches of marketing followed by leading organizations include Relationship Marketing, Industrial Marketing, and Social Marketing.
Relationship marketing helps organizations to maintain healthy relationship with their customer.
Industrial Marketing is a B2B process. It helps businesses to frame strategies that serve the needs of corporate customers.
Social Marketing is the newest among the marketing approaches that serves an organization with effective techniques and tools to reach specific goals.
To learn more: Click here