This essay attempts to structure a forward-looking approach to the evolving role of marketing in today's economy. Many organisations today recognize the need to become more market responsive in the global and interconnected market in which they... Read More
This volume, which takes the form of an essay, attempts to structure a forward- looking approach to the evolving role of marketing in today's economy. Many organisations today recognize the need to become more market responsive in view of the growing complexity of the global and interconnected market in which they operate. Internet technology is resulting in an increasingly globalised market, with easier access to information, new market players and new forms of partnerships. It is also changing consumer behaviour and reinforcing the power of the market over business. It is creating virtual markets where consumers can find customized solutions to their problems which cut across traditional market boundaries. In this new environment, traditional market participants have changing roles, new market actors are emerging and competition is intensifying. To be successful, being customer-oriented is not enough. Business leaders have to review their strategic options and stengthen the market orientation of their enterprises to cope effectively with today’s highly competitive, multi-stakeholder market. The objective of this book is to revisit the concept of traditional marketing management and to analyse changing market relationships among market players and their impact on the key decisions of strategic and operational marketing.