Impact of 2.0 on Contemporary Marketing

Impact of 2.0 on Contemporary Marketing

Dora Simões (University of Aveiro, Portugal) and Sandra Filipe (University of Aveiro, Portugal)
DOI: 10.4018/978-1-4666-7357-1.ch035
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Abstract

Contemporary marketing recognizes the scope and complexities of marketing activities. It is a multidimensional and a dynamic concept, known as holistic marketing, that asks and allows for the support systems in order to permanently connect to the parties, to create value and long-term relationships among all. In this context, this chapter presents a wide review about conceptualization of relationship marketing and its evolution and integration within the broader concept of contemporary marketing. It highlights that the development of a program for implementing and managing a successful Customer Relationship Management (CRM) system is an essential part of a strategic contemporary marketing plan. Additionally, it is imperative to assess it to better demonstrate its success or failure. The metrics to do this are also revisited in this chapter. Still, the emerging capabilities of CRM systems using Internet technologies are putting tremendous challenges on organizations and their human resources. Reference is made to some social media tools that can be a cheap and useful support in marketing strategies.
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Background

Marketing is derived from “market” which refers to a group of sellers and buyers that cooperate to exchange goods and services. Contemporary marketing should be conceived as a complex multidimensional concept designated by Kotler and Keller (2009) as Holistic Marketing:

  • 1.

    Integrated Marketing Concept (integration of all components of the marketing-mix);

  • 2.

    Internal Marketing (marketing as business perspective in all departments of the organization);

  • 3.

    Relationship Marketing (develop a strategic and long term vision for the organization with all its stakeholders); and

  • 4.

    Performance Marketing (financial accountability and social responsibility marketing).

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