Marketing Concept to the 21st century Business of Starbucks Essay - 1

merchandising belief to the 21st century Business of Starbucks - Essay ExampleThis requires marketers to constantly upgrade their marketing tactics and strategies. In the 21st century, marketing is quite different from what it used to be a century before. One creation that has gained interest among the marketers is race marketing. Relationship marketing deals with developing long and lasting familys with the stakeholders of the organization. One company that has actually adopted this concept is Starbucks that continues to provide religious services and products while remaining customer and employee oriented. This paper will turn over on family relationship marketing and its application within one specific organization which is Starbucks. Description of the Marketing Concept As competition is increasing throughout the military man, companies stick out to constantly readjust their marketing strategies in order to gain an edge over the competition. In this era, companies are b ecoming increasingly people-oriented, that is, they develop their operations to suit the needs of their stakeholders. These usually include in most cases the consumers and with new concepts developed, employees have also bring forth the central focus on the companies. Employee oriented companies have become more common in the service industries where employees form the face of the company. Thus the concept of relationship marketing has emerged in todays world that companies are increasingly adapting to in order gain a good share of the market. In relationship marketing, the aim of the company is not profit maximization but rather retaining good relationship with its stakeholders, specifically the consumers. Palmatier, 2008 defines relationship marketing as the process of identifying, developing, maintaining, and terminating relational exchanges with the purpose of enhancing performance. This relationship, though is falsely attributed to sustain to only the consumers, is in fact de veloped with all stakeholders including the consumers, employees and the community. Gummesson, 2002 further broadens relationship marketing to total relationship marketing where marketing is extended from CRM approaches to developing relationships with all stakeholders of the company. He defines the concept in the following terms, original relationship marketing is marketing based on relationships, networks and interaction, recognizing that marketing is embedded in the total perplexity of the networks of the selling organization, the market and society. It is directed to long-term win-win relationships with individual customers, and value is jointly created between the parties involved. It transcends the boundaries between specializer functions and disciplines (Gummesson, 2002) In terms of the consumers, the aim of the company in relationship marketing is to develop long-lasting relationships. This is make by orienting the company to meet the needs of the consumers. Companies th at aim at relationship building contract regular surveys and feedbacks. The purpose of these surveys is to better understand the customers and to align the operations of the company with the changing needs of the consumers. Companies practicing relationship marketing consistently innovate their products and services to better serve their customers. For example, recently many retail outlets have developed their Android presence. Consumers can easily download applications and order for their products through their cell phones conveniently.