Definition of Marketing Essay Example | Topics and Well Written Essays - 500 words

Definition of Marketing - Essay Example Marketing is more concerned with developing demand for a product and satisfying customers’ needs and not necessarily for customers to pay for the goods. Customer relationship is a very important and efficient approach that helps in creating and maintaining the good relationship with the customers. Customer relation brings about a strong bond through personal and emotional linkage and the organization can know the actual needs of the customer (Oly, 2007). Loyal customers are quite important as they have a big likelihood of telling more people about your business through the word of mouth. External customers always like to feel needed by the business operators and communication with them is very important. A satisfied customer will always be happy with the business and remain forever, which will help in enhancing the growth of the business. Dealing with customers efficiently increases their satisfaction increasing the chance of making more sales and high profits. A business strategy involves the tactics and methods business persons use to manage their businesses and organizations. Having an effective business strategy helps in retaining the customers especially if there is a program for following up the customers to find out whether the items they bought are in good condition (Oly, 2007). A good organizational and business strategy ensures that resources are used efficiently to avoid wastage. Some of the resources in a business organization are personnel customers, reputation in the market, patents, warehouses, and manufacturing processes. Business strategies should utilize the companys resources to ensure that the company does not lose its customers and has a big market share. Good company strategies enhance its expansion and growth through promotion of vigorous marketing research. Research helps in venturing into new areas to increase its production and promote growth. The other importance of strategy is giving directions and action plans, prioritization and

The debt ceiling Term Paper Example | Topics and Well Written Essays - 250 words

The debt ceiling - Term Paper Example This happened since the government did not want a repeat of 2001 fiscal crisis, which was because of the Congress refusing to raise the debt ceiling. However, raising the debt ceiling has driven the national debt to wanting levels; $14.3 trillions. In my opinion the debt ceiling should be raise, but as a short-term measure. This is because failure to raise the ceiling would have consequences. The first consequence is that the government may be unable to pay its workforce their salaries. This may lead to unrest in the country. Secondly, the government may default on what it owes other creditors, for examples, holders of government securities. These are monies in terms of bonds’ principal and interest. This would result to the US government having a bad credit rating. Government securities’ risk would go up causing the rate of interest attached to them going up. As a result, the cost of capital in the entire economy would go up thus increasing the cost of doing business. This in turn would lead to economic growth slowing down (Allen, 2012). Thirdly, foreign investors might lose faith to the US government thus refusing to lend to it. They may also sell their US government’s securities. This, in turn, may lead to the dollar losing value against the world currencies. All these may compound the situation and return the economy back to recession (Allen, 2012). Additionally, other conditions should accompany the raising of the debt ceiling. These should be long-term measures. First, the government should cut spending on unproductive activities such as wars and defense. These are some of the government expenses, which do not add value to the economy. Cutting spending on these activities would reduce the budget deficit, which would enable the government to lower the debt ceiling in future. Finally, the government should increase taxes on corporate and the rich to reasonable rates that should not hurt the economy. This too would help in reducing the budget