In the module of Introduction to Marketing I realized that some concepts to learn about I have already known from my working experience and I didn’t know how they had a name. Examples of these concepts are (Payne et all, 2007) service-dominant (S-D) logic, value proposition and co-creation of value. I enjoyed reading the recommended articles about those concepts where I found many interesting theories and fascinating examples. I believe that the gap between theory and practice is very small as the theory is applied to everyday activities and helped with technology.
While I was reading some of the articles I remembered many activities, situations and experiences during my time working at Artech. I realized the marketing logic we use there was S-D as Payne et all (2008, p 1) described in their article: it emphasizes the development of customer-supplier relationships through interaction and dialog. We used to develop the relationships with customers using some tools like social media, email, forums and live events. That interaction started at the beginning of the Artech’s main product development as it was improved by customers’ opinion and their needs. In addition, prototyping was usually done in every project and customer meeting in Artech and I realized in the course that (Payne et all, 2008) this is an important tool in applying co-creating approach. So I worked with concept of co-creation of value without knowing its name.
I found that the article about value proposition was very interesting because it showed me concepts that I used at work intuitively when I had to create the value proposition for a product, service and also events.
I also enjoyed reading in this article the Case in Point about resins and how they (Anderson et all, 2006) retooled its value proposition after customer’s value research.
Many examples shown in class illustrate how theory and practice come together. The examples I liked the most were the ones that companies influenced by customer’ opinions take actions and make important changes based on that. These are (Parr, 2010) Gap that reverts to original logo design after the social media repercussion and (Elliot, 2009) Tropicana that withdraws its new packaging and brought back the previous design after the reactions of passionate buyers in social media.
One of the companies mentioned at class that lead the way in data management is Amazon. It is a good example of how customer oriented marketing works because (Levinson, 2007) it is in constant change, always investing in personalization, product and service offerings.
Now Amazon is (Nicholls, 2010) integrated with Facebook with social commerce features based on Facebook Login and Facebook Recommendations
In conclusion, I consider the relationship between theory and practice is much closer than before as theory get into practice with social media and there are many tools that help to put in practice those theories. I saw examples of marketing theories in my working experience and the examples shown in class illustrated the importance of customer’ opinion in social media to huge companies that made important decisions based on those opinions.