In modern era, internet technology has enabled corporate enterprises to communicate with the distant consumers in a two-way manner. Thus, it has significantly challenged the traditional marketing concepts and outgrown its usefulness immensely. This similar argument is also notable from the benefit of technology in the modern era that has increased the efficiency and effectiveness of the corporate enterprises (Hackley, 2013). Moreover, it is notable that the modern organizations are highly effective in reducing the cost of production or service delivery. This is prominently due to the introduction of several technological developments in the marketing field.
This has further lead to the change in the conception of marketing, which has further outgrown its usefulness and importance within the contemporary era. Moreover, it is also evident that traditional concepts and definition of marketing has outgrown its usefulness in the recent times. This can be asserted by considering the development in the marketing concepts through the increasing consciousness among the business enterprises. In modern era of competitive business environment, majority of the corporate enterprises seeks to gain competitive advantages through their business processes and approach (Ellis & et.
al. , 2011). In this regard, the marketing strategies that any corporate enterprises undertake are majorly to gain competitive advantage and long-term sustainability. This suggests that the definition of marketing has outgrown its usefulness (Tadajewski, 2004). Marketing Practice Vs Marketing Theory In the modern era of competitive business environment, it is evident that marketing concept has significantly transformed primarily owing to the advancement of technology. This has also lead to the establishment of marketing concepts and practices, which is significantly different from the traditional concepts and theories of marketing.
This is because of the prevalence of a varying business environment as compared to traditional time where business was done mostly with profit earning intentions. This varied business environment is because of the technological development in business across diverse industry sector. It is also because of the introduction of varied business sectors that have different objectives and goals that hardly matches with the traditional marketing theories. In this regard, according to the marketing theories and traditional marketing conceptions, the primary objectives and goal of business enterprises is to acquire maximum profit from any particular market (Hackley, 2013).
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