At the beginning of 21st Century, special issues have developed in area of marketing due to drastic changes in business environment and intense competition that has compelled the marketers to change the way of doing business. Marketing is changing and that’s obvious. The focus of marketing has widened from the classic product, price, and place, promotion to incorporate the yield management, customer experience and customization that necessitates marketer to concentrate on issues such as processes, people and consumer insight. Escalating customer’s demands, development of technology, increasing competition, increasing consumerism all have been main causes that led strategic change in marketing.
Service sector in post industrial economies is facing unprecedented changes.… Read the rest