Marketing Concept Of Customer Generating Marketing

Customer generating marketing has become very popular nowadays given the explosion in digital and social media. Engaging customers on a more personal interactive level is key to your bottom line. The marketing concept suggests that company strategies should revolve around creating customer value by engaging customers and building profitable relationships. In order for your company to be successful, all members of the company must participate in marketing, not just the marketing department. They must want to create value for the customer in order to engage them. It is a team effort. That is why it is important to understand marketing and how you play a role or fit in it. A value delivery network is key to delivering customer value. Suppliers, distributors, employees, and customers must work together closely to improve the performance of the entire system. Developing differentiation in the market contributes in creating superior customer value in order to capture value in return. Companies that understand their brand and communicate it well to their targeted audience are going to achieve success. As consumers change, companies must change with them. If they fail to adapt, it is a good chance they will be left behind. T-Mobile is a good illustration of creating differentiation and adapting to consumer changes in the market. Cellular customers have become tired of being locked into two year agreements with their cellular providers. They wanted to have the freedom of switchingShow MoreRelatedNew Product Development Of New Products Essay1341 Words   |  6 Pagesbe purchased by a company’s customers and has the potential to create new customers or to enter a new market. New products have been successful because a company identified a need in the market. However, this process may lead to additional costs, and time consuming activity for a company’s personnel. A company should ask if the risk will outweigh the rewards. 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