Marketing theory and practice Essay

Submitted By Berlindalim
Words: 1912
Pages: 8

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Today’s marketing process is built on customer values and profitable relationships with customers. As the marketing process focuses on customers, it helps create customer value and in return, it provides optimum value and satisfaction. This is done via the
"customer value delivery system", which consists of the value chains of a company and its suppliers. In order to deliver superior values, marketers will have to design a customer driven market strategy, in which the strategy will give the customers the satisfaction from purchasing a product or service. In so doing, this essay will examine marketing as a business philosophy, the understanding of customer value and the link between marketing and customer value. Therefore, “Apple Watch” will be used as an example of the concept’s application.
Marketing:
Nowadays, marketing as a business philosophy has a major influence to operate a succesful business (Gamble, Gilmore, McCartan-Quinn & Durkan, 2011). Many people have their own perception to define marketing. Although some people who might intensely dislike marketing as merely selling and advertising or even persuade customers in order to gain profit (Kotler, Brown, Burton, Deans & Armstrong, 2013). In fact, marketing is about providing profit for customers which involves creating, delivering value and communicating to satisfy their needs (Kotler et.al, 2013). The easier way to define marketing is “managing profitable customer relationships” (Kotler et.al, 2013). Marketing help customers to satisfy their needs and wants. According to
Kolter (1983), business conducts exchange and achieves desired outcomes can be guide by several philosophies. Hence, product philosophy and marketing philosophy will be used to discuss the example of the “Apple Watch”.
According to Kolter (1983), product philosophy believes that the high quality of a product is what customers tend to buy and thus product design and its quality is what organizations should pay attention on. “Apple watch” can be used as an example that satisfies what a consumer demands. In the middle of the 20th century, there are abundance examples of smart watches but it was expensive and non-digital watches were more functionally at the time (Rawassizadeh, Price & Petre, 2015). Recently,

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Apple company revealed their first smart watch product which is the “Apple Watch”.
This new product, “Apple watch” shows an aesthetic that is more functional and personalized than any Apple product in the past. The “Apple Watch” offering personalized functions that provide a personal context that connected to personal life and schedule. “Apple Watch” focuses highly on its products’ quality by improving the problem of keep unfailingly accurate time and its touchscreen systems as well as adding wireless charging to the watch (Vanhemert, 2015). However, to be successful, product concept will not be enough for the “Apple Watch”. The main reason that the “Apple
Watch” exists is to make customer’s life easier in terms of entertainment, advanced functions and also can communicate through smart watch (Gent, 2014). Yet, something else can actually satisfy those needs. Thus, marketing philosophy needs to apply to the
“Apple Watch” to balance the product philosophy.
It is important to understand the aim of business in order to improve, as a marketing philosophy. Peter (1999) stated that “there is only one valid definition of business purpose: to create a customer” (p. 35). And also, “identifying consumer needs and then producing the goods or services that will satisfy them while making a profit for the organization” (Gitman & McDaniel, 2008). Higher business production and customer preference will be the results of practicing marketing philosophy. The concept of
“Apple Watch” were developed by Apple company even advance in order to be a
“general-purpose, networked computer with an array of sensors” and…