What is marketing? Universally it has been defined as the process of identifying the needs and wants of customers/consumers and delivering the needs and wants to them more efficiently and effectively than the competitors. The needs and wants can be in terms of products or services. For a proper identification of needs and wants, a company needs to undertake a suitable market research, take the pain to gain the precise consumer insights, analyze and empathize with the feedback, take remedial measures and constantly strive to not just satisfy customers but also delight them in the process.
If this is what a company is successful at doing vis-à-vis its competitors, it is surely going to alter people’s perceptions regarding its products/ services. It will definitely be able to secure a unique and durable position in the consumer’s perceptual territory.