Appropriate marketing strategy are needed to reach potential customer. Different type of customer need different type of marketing strategy. There are different type of marketing strategy that can be implement to final consumer & households or corporate buyers.
Appropriate marketing strategy is needed to reach final consumers or households. Basically, this type of customer buy product and services in the category of nice-to-have, and often to improve their quality of life. Individual consumer buys product and services for his or her own use, they are free to make purchasing decisions based on instinct, whim, or gut feeling. There are also other method to reach potential final consumers and households ;
1. Demonstrate Value
Actions speak louder than words. If you want clients to be aware of the value of your products or services, you will need to give them a test drive. Open the door with newsletters, workshops, a free session or articles found on your web site. Over time demonstrating the value you provide will convince prospective clients of your ability to solve their problems and help position you as a trusted advisor.
2. Build Your Network
The objective is to know who is interested in your products and services. Networking is a good idea because people like to buy products from people they know and trust. If they’ve met you or been referred to you they are more likely to trust you. Depending on the business you are in, you can build your network of prospects through conventional networking or through your web site and email. Either way the more qualified prospects you have in your network the better.
3. Stay in Touch
Memories are short. Once we hit middle age most of us can't remember the host of services various firms provide. In most cases its safe to assume your target market has forgotten about the range of solutions you offer, if they remember you at all. Stay in touch with your target market on a monthly or, at a minimum quarterly basis. When you contact people be clear about the action you want prospective, existing and past clients to take.
In the other hand, the appropriate marketing strategy to reach corporate buyers are different. This is because corporate buyers involving large contracts, larger compared with small businesses and individuals, and often longer-term. There are other methods can be use to reach corporate buyers;
1. Understand the culture of the corporate organization.
Successful marketing strategies are very important as it determines whether the organizations can materialize the benefits and strengths of their products and improve their revenue and profitability. Marketing strategies are heavily impacted by the external opportunities and weaknesses, as well as the internal strengths and weaknesses of the organization. Based on this information, companies have to segment the big market into small segments and divide their products into homogeneous batches to target each segment separately. Furthermore, the organizations have to design important marketing mix, including product, price, place, and promotion to make sure that their products are well received by the customers. All of these aspects are very important for organizations realize the potential from their products and achieve the competitive advantages in the competitive market.
Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.
First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.
There are a range of segmentations that allows a company to target potential customers effectively.
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
Marketing is considered to be the most visible functional activity of profit-seeking organisations . However, for the appliance of a new Marketing Strategy, many changes have to be done as far as it concerns the complete infrastructure of an organisation, as well as the corporational beliefs and values.
Fifield (2007) notes that whereas the department of sales in an organization is about ensuring the customers actually buys whatever the organization is making, the aim of the marketing department is to make whatever the customer wants to buy. Even though marketing is usually just perceived by a lay man to revolve around advertising of a commodity that a particular organization is making, the concept of marketing is actually a lot deeper. And given the complex and competitive world that is now being evolved, it is very important for the organizations to best cater to the needs of the customers and then again to attract as many customers towards them as possible. One significant solution to this then is to develop a strategic marketing plan.
-Transaction buyers were reached via advertisement, catalogues and direct marketing. On the other hand, the rest of the industry focused only on building recognizable brands using advertising.
Having an idea about the type of client you want to cater to helps a lot. Then build up the conditions that you feel could attract those customers. Starting an advertising campaign and
In the world of business-to-business marketing, the exposure of an organization depends on many actions taken by it. Some companies go towards personal marketing and sales, while others might prefer mass media advertisements. But nonetheless, all organizations need to set their foot in the market by creating ”hype” about their company and brand name. It is true that personal selling is one of the very important mediums of making a sale in the business-to-business marketing world, but where do companies get the contacts from to conduct personal selling? Contacts can be acquired by conducting a meeting with a company’s manager and carrying out a sales pitch, or even by the customer reaching out for the company because of the firm’s good reputation in the market, etc.
Distribution channel deals with the delivery of the product to the customer. How good the distribution channel is, depends how effectively the channel fulfils the customers need of time utility and place utility as well as keeping the channel structure under manageable levels.
Overall, these are all marketing strategies that can be utilized both locally, and on a larger scale. Two additional factors must also be considered when using effective marketing strategies. Determining areas where marketing will be most effective, as well as methods to organize and keep track of existing, and new clientele are imperative to successful
In marketing, there are two ways of selling products to consumers. One is the mass marketing or undifferentiated marketing, and the other is target marketing or differentiated marketing. The former is the traditional way of reaching out consumers by selling all of them the same products. The latter is the contemporary way of connecting with the consumers whereby companies choose select groups of people or organizations to sell to. Target marketing is the trend nowadays in selling products in which companies are creating customized sales approaches for every group of buyers.
In general, there are numerous definitions of marketing as it has various features to involve, and the one below has concluded main factors of it:
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)