Master Level - Academic Marketing - Research, Theory and Practice in Essay

Master Level - Academic Marketing - Research, Theory and Practice in Marketing - Essay Example The strategy therefore, was viable in the given restrained parameters and yielded results that satisfied both the customers and the retailers of the time. On the contrary, today, the technological advancements have brought forth an explosion of information that is easily accessible to public through the internet and other media like television, radio, mobile phones etc. The internet has made it easy for the customers to become aware of the product details including its availability at competitive prices which has precipitated the need to develop a whole new perspective for a new marketing technique. Hence one needs to be more open when Shultz say that it is the end-users who now control the markets rather than the marketers. It is equally true that though, the technology in its wake has inundated the market with variety of products which has given the customer plenty of option, the seller is left with the cut throat competition that must be met urgently. It therefore becomes all the more important that the sellers need to introduce new techniques and brands that would, not only attract the customers but also retain them. The customer, while remaining the main point of any marketing techniques, no more commands the sole attention. The emerging technology has necessitated the incorporation of the whole system within which the product is marketed. Hence any successful marketing must address the system as a whole. Shultz has come up with the theory of ‘triad’ comprising of marketers, customers and the employees who must be considered as a unit for a market strategy to succeed. Shultz asserts that these three elements where employees also include the retailers, distributors, agents and the sales force, play a vital role in marketing of the product. Today the concept of market has changed so much so that instead of customer going to the ‘product’, the product ‘comes’