Essay on Marketing Principles and Paradigms

A wave of change has swept over the marketing field. It is no longer what it used to be in the past twenty years. Four principles; The 4Ps, holistically represented a managerial point of view in product marketing. These were price, product, place, and promotion. The need to engage both consumers and marketers with the intention of the creation of value informed Service Dominant Logic (SDL) (Vargo & Lusch 2004, p. 7). SDL sought to break loose from the Goods Dominant Logic (GDL) which overlooked the role of the consumer in the marketing process. In this paper, the importance of SDL in the co-creation of a products value will be demonstrated.

If this sample essay on"Essay on Marketing Principles and Paradigms" doesn’t help,
our writers will!

Trust an expert

Businesses are out to make profits from their products. Involving a consumer in a companys co-creation of values allows a business to have mutually beneficial relationships with the customer. As a consumer, I interact with marketers on almost daily basis. My addiction to a particular brand of chocolates facilitated my encounter with a person who was out to market this brand. I noticed that the manufacturer had significantly reduced the size of this chocolate yet the price remained constant. During my interaction with the marketer, I sought for clarification on the issue. However, she was elusive and only asked me to fill out a form detailing my concern. The form would then be availed to the relevant persons. However, I was not assured of any response.

The marketer was in a good position to make the best out of that interaction for the companys benefit. My efforts to engage her in a dialogue were fruitless. It would have been better if she had personalized the issue and reassured me of an almost immediate response. As a marketer, she was the brands ambassador. Consumers view her and the company as an item and expect direct answers to their queries. Avoiding my questions made me feel like the company was out to make sales with no regard to customer feedback. I thought of the possibility that the lady was innocently unaware of the reason for the decrease in quantity. According to Kotler & Keller (2012), such a case implies that the business lacks transparency.

The marketer should have encouraged dialogue between her and the consumer; consequently creating an open communication environment. While at it, she should have emphasized on the possible reasons for that phenomenon and asked for the customers views. When a user is given a chance to have such a conversation, they realize that they matter to the company. According to Vargo & Lusch (2008), dialogue eliminates the thought that the business is focused on a one-way selling strategy; a practice that is contrary to the SDL requirement. I, therefore, would have been more satisfied had she responded to my questions. More importantly, I would have been satisfied if she had openly declared that she was unaware that the company's actions. Instead, I read mischief and disregard to consumer feedback thanks to her lackluster response.

In a nut-shell, SDL calls for collaboration from both the consumer and the company. Each should hold their end of the bargain for the purpose of mutual benefit. Companies should accept that they cannot achieve any of their set targets without consumer energy. A displeased client is likely to spread the gospel of doom, and the result is a business downfall.

Reference List

Kotler, P & Keller, KL 2012. Framework for marketing management. 5th edition, Upper Saddle River, NJ: Pearson Prentice Hall.

Vargo, SL & Lusch, RF 2008. Service-dominant logic: continuing the evolution, Journal of the Academy of Marketing Science, 36, pp. 1-10.

Vargo, SL & Lusch, RF 2004. Evolving to a new dominant logic for marketing, Journal of Marketing, 68, pp. 1-17.