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    Reflection Paper 2 (MM)

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    Paul Irineo Montano
    Ren-Ren P. Montano discusses the importance of marketing strategy, noting that among the most important roles of marketing is gaining new customers through market segmentation, targeting, and positioning. While gaining new customers is challenging, retaining existing customers can be even more difficult, as maintaining relationships requires being attentive to customers' needs to fight forces pulling them away. Just as in human relationships like marriage, companies must invest significant effort in customer retention through ongoing research on serving clients' needs in relation to trends and competitors. Keeping customers happy is a good marketing strategy, as satisfied customers will recommend the brand to people they know.

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    Reflection Paper 2 (MM)

    Uploaded by

    Paul Irineo Montano
    256 views1 page
    Ren-Ren P. Montano discusses the importance of marketing strategy, noting that among the most important roles of marketing is gaining new customers through market segmentation, targeting, and positioning. While gaining new customers is challenging, retaining existing customers can be even more difficult, as maintaining relationships requires being attentive to customers' needs to fight forces pulling them away. Just as in human relationships like marriage, companies must invest significant effort in customer retention through ongoing research on serving clients' needs in relation to trends and competitors. Keeping customers happy is a good marketing strategy, as satisfied customers will recommend the brand to people they know.

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    On marketing intelligence

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    Ren-Ren P. Montano discusses the importance of marketing strategy, noting that among the most important roles of marketing is gaining new customers through market segmentation, targeting, and positioning. While gaining new customers is challenging, retaining existing customers can be even more difficult, as maintaining relationships requires being attentive to customers' needs to fight forces pulling them away. Just as in human relationships like marriage, companies must invest significant effort in customer retention through ongoing research on serving clients' needs in relation to trends and competitors. Keeping customers happy is a good marketing strategy, as satisfied customers will recommend the brand to people they know.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    256 views1 page

    Reflection Paper 2 (MM)

    Uploaded by

    Paul Irineo Montano
    Ren-Ren P. Montano discusses the importance of marketing strategy, noting that among the most important roles of marketing is gaining new customers through market segmentation, targeting, and positioning. While gaining new customers is challenging, retaining existing customers can be even more difficult, as maintaining relationships requires being attentive to customers' needs to fight forces pulling them away. Just as in human relationships like marriage, companies must invest significant effort in customer retention through ongoing research on serving clients' needs in relation to trends and competitors. Keeping customers happy is a good marketing strategy, as satisfied customers will recommend the brand to people they know.

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    Ren-Ren P.

    Montano (MDM 2019)


    Reflection Paper 2 (Marketing Management)

    On the framework for marketing strategy

    Among the most important roles of marketing is gaining new customers. In so doing, companies
    should be able to segment the market, target is prospective customer base, and position themselves
    within the consciousness of these people. While gaining new customers is, in itself challenging, it
    would even be more challenging to retain, or keep the existing customer base from purchasing goods
    or availing of services being offered.

    Interestingly, Levitt compared customer retention to other human relationships such as marriage, in
    which people may lost interest in each other until things between the couple eventually turn sour. In
    this regard, we are cautioned that maintaining relationships requires constantly being attentive and
    sensitive to the needs of the other, which, to borrow Levitt’s phrasing, is about “fighting against the
    forces of entropy”. In which case, keeping old customers, requires the same amount of effort as
    gaining new ones. Corporations should therefore invest as much resources in carrying out research
    activities to continuously serve clients’ needs in relation to current market trends and competitors.
    Consequently, companies who keep their clients happy is also a good marketing tool as existing
    customers tend to recommend that brand to people they know.

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