Marketing Practices in Contemporary Environment

According to Kotler & Keller (2006), Marketing practices refer to an organization’s practices for an effective marketing to acquire & retain customers while focusing on high performance and growth of the organization. An organization adopts innovative and unique marketing practices on the basis of market trends and consumer preferences to gain competitive advantage (Kotler & Keller 2006). As best marketing practices, an organization focuses to sell high-quality products and also provides high-quality services to its current and prospective customers. It assists to high-performance and high-growth of the organization in contemporary environment.

According to Blythe (2006), marketing practices refer to those activities and strategies which are used by firms to market their products and services. The successful organizations build and commence new and innovative products and services which are considered to be best in their industries (Blythe 2006). By introducing new products and services, an organization increases its sales revenue and customer base that assist to organizational growth.

As discussed by Onkvisit & Shaw (2004), in current market scenario, identification and implementation of best marketing practices are very critical task to market leaders due to increase rate of competition and changing behavior of consumers (Blythe 2006). For sustaining in global market, multi-national or global companies use different marketing practices those are most appropriate with locality (Kotler & Keller 2006). The organization’s marketing practices vary from nation to nation. As best marketing practices, an organization uses different practices such as customer relationship management, effective distribution system, advertising strategy, attractive and safe packaging etc those are appropriate with localities (Onkvisit & Shaw 2004).

As discussed by Lambert (2008), in highly competitive environment, effective and efficient distribution system helps an organization for timely supply of products and services to its current and prospective customers. With the help of effective supply chain and logistics management, an organization delivers its products and services to its distribution channels for timely supply to end users in an effective way (Lambert 2008). In similar way, as effective marketing practices, organization focuses on attractive promotional and advertising strategy, packaging etc those are appropriate with customers’ preferences and their surrounding environment.

By using strategy for customer relationship management (CRM), an organization can increase the base of satisfied and loyal customers. It assists to increase the brand value of the organization and also assists to acquire new customers (Theaker 2004). For effective CRM strategy, organization provides high-quality products and excellent services to its existing, new and prospective customers.

References
Blythe, J. (2006) Principles & practice of marketing, London: Cengage Learning EMEA.
Kotler, P. & Keller, K. L. (2006) Marketing Management. (12th ed). London: Prentice Hall.
Lambert, D. M. (2008) Supply chain management: processes, partnerships, performance (3rd e.d.). USA: Supply Chain Management Inst.
Onkvisit, S & Shaw, J.J. (2004) International marketing: analysis and strategy. (4th ed). New York: Routledge.
Theaker, A. (2004) The public relations handbook (2nd e.d.). Great Britain: Routledge.

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