Change is occurring at an accelerating rate due to development of globalization, technological advancement and deregulation of economic sector. As a result, today is not like yesterday and tomorrow will be different from today. Therefore, Companies are facing immense challenges to continue with existing strategy and they are turning to new strategy. However, the above mentioned three issues (globalization, technology and deregulation of economic sector) also provide endless opportunities for the companies as well. Now the question arises how marketing can help us to deal with these issues. Marketing, more than any other business functions, deals with customers’ satisfaction. Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice. In short, marketing is the delivery of customer satisfaction by stretching limited resources for profitability. Philip Kotler, the father of marketing, has put in this way: Marketing as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
Some people think that only large business organizations are operating in highly developed economies by using marketing, but sound marketing is critical to the success of every organization – whether large or small, for profit or nonprofit, domestic or global. Marketing operates within a dynamic global environment. Every decade calls upon marketing managers to think freshly about their marketing objectives and practices. Rapid changes can quickly make yesterday’s winning strategies out of date. Peter F. Drucker, a pioneering figure in the field of marketing, once observed that a company’s winning formula for the last decade would probably be its undoing in the next decade. What are the marketing challenges in the 21st century? Today’s companies are wrestling with changing customer values and orientations, economic stagnation, environmental decline; increased global competitors, and a host of other economic, political, and social problems. However, these problems also provide marketing opportunities. So, a sensible marketing manager must look deeply into several key trends and forces that are the marketing landscape and challenging marketing strategy: growth of nonprofit marketing, rapid globalization, the changing world economy, and the call for more socially responsible actions. At present, marketing is being practiced throughout the world. Even in Eastern Europe and the former Soviet republics, where marketing has long had a bad name, but the dramatic political and social changes have created new opportunities for marketing. Business and government leaders in most of the nations are eager to learn everything they can about modern marketing practices. Bangladesh has also been performing to boost marketing knowledge and practice at various spheres after independence. Universities and Government Colleges have noticed the increasing needs of marketing intelligence and have modernized course contents and teaching methods in this regard.
Rajshahi College has also introduced four-year marketing honours course and inaugurated a separate discipline namely ‘Marketing Department’ in 2013 under Business Faculty. Honorable Principal professor Dr. Ali Reza Md. Abdul Mazid and Vice Principal professor Md. Habibur Rahman played a dynamic role for opening this department. At present four teachers are carrying out both the academic and departmental activities with dedication. The academic functions of the department are conducted efficiently by Dr. Biplab Kumar Mozumder, Assistant Professor and Head of the department. Marketing department is determined to achieve a remarkable success by producing competent marketing graduates with a view to serving the society in the long run.