Three Marketing inefficiencies
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Some firms are too production-oriented and inefficient. That can result in customers who are not satisfied and micro-marketing that can cost too much. Need help in explaining these three efficiencies.
The three marketing inefficiencies are:
1) Lack of interest in or understanding of the customer
2) Improper use of the four P's, which is caused by overemphasis on internal problems vs a customer's orientation
3) Lack of understanding of or adjustment to the marketing environment (especially what competitors do).
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Three Marketing inefficiencies are discussed in great detail in this solution.
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The three marketing inefficiencies are:
1) Lack of interest in or understanding of the customer
If there is lack of interest in or understanding the customer, there is a major inefficiency. The firm cannot understand the motivations of the customer in making purchases; it is not able to understand the needs of the customers. The firm remains ignorant of customer operations, economics, and purchasing practices. The opportunity for listening to customers, discerning their needs and communicating with them is lost. The firm does not know which customer relationships to develop nor does it know the type ...
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