CHAPTER ONE

BACKGROUND TO THE STUDY

1.0       INTRODUCTION

“Marketing and marketing communications mix is changing. New insights, new tools, new opportunities and new challenges are emerging as the 21st century progresses. The world’s 61/4 billion consumers and almost 400 million business customers are becoming increasingly accessible” (Smith and Taylor, 2004, p 4) which makes them ready targets for new global competitors.

“Marketing has moved from ‘customer acquisition’ (winning new customers) through ‘customer retention’ (keeping customers for life) through customer selection (dumping unprofitable customers while selectively seeking and keeping the more profitable ones)” (Smith and Taylor 2004, pg 4) towards ‘customer relationship’ (interacting with customers, gathering and analysing data on them and forecasting customer trends and/or behaviours to enhance customer experience). This fact is further buttressed by Arens, Weigold and Arens, (2008, p. 307), in this statement “the key to building brand equity in the twenty-first century is the development of interdependent, mutually satisfying relationships with customers and other stakeholders.” Today’s marketers must therefore embrace continual change and the opportunities and challenges that come with marketing.

1. 1. This material content is developed to serve as a GUIDE for students to conduct academic research work
2. 2. As a source for additional understanding of the subject.
3. 3. As a source for ideas for your own research work (if properly referenced).
4. 4. For PROPER paraphrasing (see your university definition of plagiarism and acceptable paraphrase)
5. 5. Direct citing (if referenced properly)
Thank you so much for your respect to the authors copyright.