Introduction
This technique understands the needs and desires of the customer and product is designed accordingly. Its main motive is customer satisfaction that is building a relationship with customer and is achieved through an integrated, corporate wide set of marketing activities. Modern marketing can be explained as getting the right goods, at the right time, at the right place, with the right communication, to the right people, at the right price.
- Fields of Modern Marketing System
Following fields are involved in modern marketing system
Public welfare services like electricity and water supply, transport, education, hotel, entertainment, banking, hospital, accounting, etc.
Travel agency, real estate, advertisement, public relations, market research, courier services, credit card services, etc.
Computer training, vocational service, Internet, recruitment services, video conferencing, E-commerce, etc. It is clear that newly developing service fields are not person centred now-a-days but involved with modern technology and is going to become sophisticated and complex.
- Functions of Modern Marketing System
- To understand the nature of service
- To understand the customer and his expectations
- Sizing services
- Promotion
- To decide prices
- Organise delivery system
- To observe carefully customer satisfaction
- Pay attention to the variation of achievement
- Ways of Modern Marketing Field
- Export
- Technology and information licensing
- Multinational business
- Joint venture
- Fully global operations
- Various Modes of Modern Marketing System
Various modes of modern marketing system are
It is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or personal digital assistant.
It simply refers to a technique of attracting potential customers by advertising your products or services through websites, E-mails and banners. A number of activities are involved in cyber marketing such as online marketing, fax direct marketing, canvassing, etc.
- CRM (Customer Relationship Management)
It entails all aspects of interaction that a company has with its customer, whether it is sales or service-related. CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads.
It refers to the promotional activities aimed at taking advantage of the changing consumers attitude toward a brand. These changes are increasingly being influenced by a firms policies and practices that affect the quality of the environment and reflect the level of its concern for the community.
E-commerce or electronic commerce, ‘a subset of E-business, is the purchasing, selling and exchanging of goods and services over computer networks (such as the internet) through which transactions or terms of sale are performed electronically.
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