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Consumer buying behaviour
Consumer buying behaviour
Using a proper example explain one‐to‐one marketing
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Recommended: Consumer buying behaviour
Consumers purchase goods to serve their needs and wants. Firms develop offerings to meet customers’ needs and wants. Firms have the choice whether to market to targeted groups of people or all consumers. The targeted, “rifle approach,” has several advantages over the mass marketing, “shotgun approach.” A few of these advantages are that the targeted approach allows firms to focus on most profitable customers, identify early adopters of a product, avoid head-on competition with other firms, and develop new offerings (Tanner & Raymond, 2012). According to Tanner and Raymond (2012) the trend in today’s marketing efforts is towards precise, targeted marketing. Don Peppers and Martha Rogers developed and promoted in their 1994 book The One …show more content…
Interact with and target best customers
5. Customize products and marketing messages to meet their needs Before implementing One-to-One marketing (OTO) it is important that firms know how to measure the success of their efforts. They will need to establish one or several metrics for evaluating the short term success of the OTO marketing plan. These may include measuring customer satisfaction, number of products sold to customers, or other measures (Tanner & Raymond, 2012). This is done before engaging in OTO marketing to determine if the plan is on track or if any changes or additions may be necessary once it’s implemented. A successful OTO marketing plan first seeks to identify as much information as possible about its customers. This may include age, gender, specific buying needs, or pertinent habits. Bookbub successfully functions by finding specific information about customers. Bookbub is a free digital book broker that will recommend books “at deep discounts.” There service functions by first identifying the genres that interest you and then the company you purchase electronic books through; Amazon, Apple, Nook, etc. An email is delivered everyday with three choices. If the customer is interested they can click on the provided
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At this stage the best customers are identified (Tanner & Raymond, 2012). The customer’s value to the company and their individual needs are now considered. In order to use Amazon’s services you need to provide the company with some personal information. As a customer you have the option of paying an annual fee to become a “Prime” member. Once a customer makes the choice to join they become one of Amazon’s “best” customers. It is at this point you not only have free shipping on most physical orders but access to Amazon’s digital library of music and videos. This leads directly into the next stage of OTO marketing, which involves establishing effective customer interaction procedures. The way a customer interacts with Amazon is dependent upon what they are looking for. What has made Amazon so successful is that every one of Amazon’s customers is interacted with and catered to as an individual. The individual’s needs and wants seem to be the only ones that matter as Amazon’s vast inventory of physical and digital goods are
Recently I watched a T.V. show called The Profit and recognized some similarities from the current Marketing chapter discussed in class. The current episode was about a company called Bentley’s Corner Barkery, which is committed in providing all-natural pet food and treats for their customers. The episode highlighted how Bentley’s Corner Barkery was struggling and not reaching all of their potential customer base because of its marketing structure among other poor managing and financial elements. Before Marcus Lemonis (he is the investor) the company marketing strategy was the quality of product will attract customers. Marcus Lemonis immediately ask for the company’s mission statement and help the owners identify their target customers by segmentation.
Segmentation, targeting and positioning are the fundament of modern marketing (Proctor, 2002, p. 188, as cited in Harris and Schaefer, 2015).
Treanor, T.. (2010). Amazon: Love Them? Hate Them? Let's Follow the Money. Publishing Research Quarterly, 26(2), 119-128. Retrieved February 24, 2012, from ABI/INFORM Trade & Industry. (Document ID: 2377177581).
Armstrong, Gary, and Philip Kotler. Marketing: an introduction. 11th ed. Upper Saddle River, NJ: Pearson Prentice Hall, 2013. Print.
In my own experience in the business world, a customer would feel satisfied and grateful of the product and service, especially when the employee dedicates his or her time and ability to manage the customer. When it comes to customer service or fast delivery, Amazon hails to provide products and services by any means of keeping a loyal customer. An example of this service is the Amazon Prime, which was created to offer loyal customers the best discounts on sold items, fast shipping, and membership to features like unlimited music streaming. These types of services to loyal customers shows the innovation that employees took time to plan about. The strict and harsh regulation of the company reminds the employees and managers to work to their full potential so that they can serve customers
Scenario: Customers rave about the vast selection, fast shipping, and customer review option for each and every product on the Amazon.com website. The Fortune 500 e-commerce website, headquartered in Seattle, Washington, is the largest internet-based retailer in the United States. Customers are well informed about their purchase with customer reviews and Amazon has competitive prices. Amazon is one of the most successful businesses of our era and most valuable retailer of the country (Kantor & Streitfield, 2015). Amazon Prime members, a program with a yearly membership charge, receive special perks such as free shipping, unlimited streaming of television shows and movies, music streaming, downloads of free books, and many other deals and discounts
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.
From the consumer side, Amazon provides services like Amazon Prime, which delivers free two-day shipping on retail purchases, on-demand video streaming and a free access to the Kindle library, everything for an annual
Amazon.com creates value for its customers by offering customers broad array of products to select from through their website and ensuring timely delivery of products to exhibit high level of commitment towards their business and customers
Consumer behavior is how a company minimizes uncertainty when offering a goods or service to a customer. This is done through thorough research and marketing strategies developed by the seller. Amazon is a company that does not only practice current trends, but also influence and set them. They are the trendsetters in personalization, escapism, and the ever-important convenience. These are few of the many trends Amazon.com has created benchmarks for in the online sales industry. It is these trends that have taken to being number 13 on Forbes most valuable brands. Once at the top, their prioritization of the consumer over the business has helped them stay at the top. Colin Shaw who writes for Britton said, “Amazon.com puts the customer experience at the top of their short and long-term to-do list.” (http://www.brittonmdg.com/the-britton-blog/amazon-marketing-strategy-unusual-but-successful) Ludwig von Mises closely analyzed the approach Amazon.com is taking many years ago. This customer is king approach is what helps Amazon.com focus on the process rather than the product. Through consumer behavior trends, I believe a company has a higher success rate when this happens. See, if you focus on the process, the result will come. A good process ultimately will generate a well-balanced result. When your focus is on the final product, you lose sight of the process. By
The natural progression of the Internet and emerging technologies is towards streamlining our lives both personally and professionally. Instantaneous communications and available on-line services continue to reduce the physical distance between individuals. Almost anything is now available in cyberspace from shopping, schooling and education, on-line trading, banking, to social and political on-line communities. On-line service providers are shifting from a product centric approach to a more personal and customized approach to marketing their products and services. The idea of one-to-one marketing is very powerful and has become an important tool for competing in the interactive age. One-to-one marketing takes a customer-orientated approach to selling; customers are treated as individuals with different interests and needs. We respond positively to individual attention; when we visit a web site we want to see products and services of interest to us not every available product. We do not want to waste our time. For many people, time is money and the convenience factor ways heavily on the decision to return to a web site.
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Amazon’s also tried to spearhead the industry by introducing the customer-pleasing traits in terms of the technology, order fulfillment and retailing strategies categori...
Amazon has recorded a magnificent success in its business throughout the years that it has been in operation. It has attracted almost all people to use it when necessary. Amazon has built its success in business methodically and slowly. Amazon has made much success because of its ability to read market trends and diversify its operations. It started as an online book selling company. However, it changed its operations and started selling other products. Currently, many large retail shops use Amazon to host and power their websites, for instance, sears and virgin megastores. Amazon now attracts over fifty million visitors in a period of one month. Amazon has tried to make their services fit each individual user. It has based its services on the end user. It has shipping discounts, customer product reviews and a credit card with bonuses. It also has prime membership, product forums and 1-click ordering system among other services. The company has tried to make a remarkable experience for customers and visitors (Thomas, 2006).
Nevertheless, one of the most important constants among all of us, regardless of our differences, is that, above all, we are buyers. We use or consume on a regular basis food, clothing, shelter, transportation, education, equipment, vacations, necessities, luxuries, services, and even ideas. As consumers, we play an essential role in the health of the economy; local, national and international. The purchase decision we make affect the requirement for basic raw materials, for transportation, for production, for banking; they affect the employment of employees and the growth of resources, the successfulness of some industries and the failure of others. In order to be successful in any business and specifically in today’s dynamic and rapidly evolving marketplace, marketers need to know everything they can about consumers; what they are want, what they are think, how they are work, how they are spend their leisure time. They have to find out the personal and group influences that affect consumer decisions and how these decisions are made. In these days of ever-widening media choices, they need to not only identify their target audiences, but they have to know where and how to reach