Answer questions Assignment Example | Topics and Well Written Essays - 3000 words

Answer questions - Assignment Example 102). It became apparent that mass advertising and promotional programs were quickly losing their effectiveness. Several new segments began to appear and it was becoming costly for companies to satisfy these customers with the same approaches. Southeast Asian companies entered the markets and began using their core competency of operational efficiency to lure customers and price competition to beat competitors. However, the same did not translate into sustainable competitive advantage for most of the players as brand loyalty and profit margins continued to decrease (LeSueur, 2007, p. 98). Experts were quick to realise that the rules of the game have changed and companies that wish to survive and prosper will have to differentiate between transactional marketing and relationship because the former only focuses on customer acquisition, whereas, the latter has a more balanced focus on customer acquisition and retention (Nash, 2000, p. 52). Discussion At its very core, the goal of market ing is to generate value for the customers while also maximising the profits of the organisation. However, transactional marketing and relationship marketing take very different approaches to achieve these objectives. The transactional marketing approach views the client solely as a means to an end while, the relationship marketing approach takes the liberty to consider the person with whom the sale is being as the end in himself or herself. The transactional marketing approach places the utmost importance on making as many sales as possible in the shortest span of time. Therefore, transactional marketers do not find themselves in position of spending time and resources at building relationships with their customers (Nash, 2000, p. 52). Also known as the traditional marketing approach, transactional marketing mainly focuses on pushing the product through mass advertising and promotion. There is little or no emphasis on customer services. Organisations that employ a transactional app roach are highly likely to follow a pull technique, where the focus would remain on the four Ps of marketing without any focus on the activities that are strategically required once the purchase has been made by the customers (Clow, 2007, p. 47). Relationship marketing, on the other hand, remains focused on building valued and close long-term personal relationships, which are built through highly targeted and personal interactions. Important here to note is that organisations that follow a relationship marketing approach do not consider their brand to be their greatest asset, but rather they take the greatest pride in their ability to satisfy their customers and keep them happy (Spiller & Baier, 2005, p. 75). Furthermore, following relationship marketing is a time consuming and painstaking process because it requires a complete rethink of the entire value chain, business model and operations strategy of the organisation. It requires a top-down shift of the organisational strategy. R elationship marketing, at its very core, represents a strong commitment from the side of the organisation to understand the customers and invest at building relationships with customers (Morgan & Hunt, 1994, p. 25). Customers who feel connected with companies are likely to profit the company in

United States trade conflict with China Term Paper

United States trade conflict with China - Term Paper Example The U.S. Chinese trade is in great favor of China. The continued trade war between the countries is unhealthy not only for the two nations, but also to the world economy. China cannot be ignored as an economic powerhouse.The international relation between the People’s Republic of China and the United States of America is often referred to as Sino-American relations. Since the beginning of the cold war to date, the relation between the two countries has been pretty cyclical. In fact, many analysts find the relationship not only complex, but also multi-faceted. The two countries cannot be considered enemies by any standards, but yoking them as allies could also be questioned. For a long time, the two countries have had a stable relationship. However, this relationship is threatened by competition and trade policies that have continued to stir controversy. The United States and China have the largest economies in the world. Therefore, any tension between them spills over to other countries and regions consequently affecting the entire world. China has the world’s largest population, while the United States has the world’s largest economy. This makes the two countries to be the largest trading partners in the world. Moreover, the bilateral relationship qualifies to be the most essential one in the 21st century. The two countries are the world’s economic giants and their united efforts towards attaining world peace and economic stability can yield unimaginable results. Amidst the trade tensions, the United States and China have a common stand in many fronts... For instance, while other economists think the United States benefit more from its trade with China and imposing taxes on Chinese products is unjustified, others think the trade has destroyed the United States and its high time the United States took a bold step towards saving its local businesses and citizens from Chinese firms. According to Feigenbaum, the Sino-American trade wars will not end soon. However, the wars will be broadly manageable (Feigenbaum). Schuman, The Time business reporter, takes a rather interesting approach to the issue. He holds that resolving the war between the United States’ government and China will not be an easy one (Schuman). He cites the reluctance of both governments to drop their demands as the major hindrance to striking a consensus. Both governments, for instance, insist on fulfilling public demands, which have been a hindrance to a smooth trade. While the United States insist on preserving local jobs, the Chinese government is interested i n finding market for locally produced products and an avenue for investment. A research by the Queensland University Staff on the probable effects of the United States’ regulation of Chinese imports favored the introduction of strict measures to control Chinese imports (126). The research concluded that setting such measures was inevitable and would be to the advantage of the United States government (126). It further stated that the United States â€Å"pressure should continue† (Queensland University Staff, 126). A sour trade relation between the United States and China is evidently destructive. All the countries stand to lose. The world’s economy is already threatened by this unhealthy competition and rivalry, and it could even get worse. If not resolved, the rivalry will result in