Marketing is about value creation of the product or service, the more you add value, the more you will get competitive advantage in the competitions in the market. The purpose of marketing is to build and develop strong relationship with the customer in a specific customer segment. In today’s world of business marketing’s role is to provide differentiations of the products and services and capture a strong customers’ focus and build loyalty for long term business commitments. Understanding the core marketplace, identification of needs, want and demand of the customers and coordination of these tasks is the aim of marketing to satisfy the customers. Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on.
In creating a new company and implementing innovative sales systems, we would like to take some of our competitors business by initially drawing customers in with offering lower prices. Furthermore, in using this pricing strategy our hope is that we will be attracting customers to come in more frequently because they find a higher benefit or value when visiting our store. In turn with gaining more customers this pricing strategy will help us grow rapidly as a new
Customer satisfaction helps to increase customer loyalty, reducing the need to allocate marketing budget to acquire new customers. Keeping customers satisfied may lead to those customers recommending Gogotech’s products or services to other potential customers, increasing the potential for new visitors and additional revenue and profit (Linton, 2014). In order to increase their conversion rates, Gogotech will begin to product reviews on their online store. Product reviews are proven sales drivers and something that most customers will want to view prior to making a purchase. (Charlton, 2012).
This helps other consumers to build confidence for shopping. It naturally attracts new customers. Thirdly, brand loyalty can increase sales channels. Franchisers need to sell products to make a profit, They often choose companies which have a high degree of brand loyalty to cooperation. Therefore high brand loyalty in the expansion of sale’s channels more smoothly, and easier access to more favorable terms of trade.
Mission Statement “Our main mission is to consistently deliver trend right designs to our customers. To further build our business, we will leverage our tremendous brand equity, dominant position in fashion-forward footwear, and industry-leading design team and will work to ensure that Steven Madden, Ltd. emerges as a global lifestyle branded company.” Birth of Corporation Steve Madden always showed interest in shoes, ever since he was younger and trying to figure out what he wanted to do as far as a career. Steve Madden began working for a number of footwear companies before starting his own. In 1993 he first opened his own store in New York. Since the very beginning Madden had an idea just as far he wanted his company to go.
Customer often focus on quality of the product but now customer expectations are raised because of the competition in this retail industry where retailer focus on offering premium services by personally attending the customers. If the customer is satisfied by the services and product as well, gradually profit would be increased. As the customer is more satisfied, he may make a repurchase decision or through a word of mouth of satisfied customer, new customer are generated by their recommendations. Area- wise retail can also affect customer to repurchase the product as the retailer who satisfies the need of the customer is preferred more by the customer. Easiness to find the product, visibility, appearance also leads to customer loyalty and store loyalty.
Other than that, it cans boots job satisfaction. It is because retail kiosks can handle many of the customer inquiries that are not directly related to sales. The company employees will be able to focus more of their efforts on increasing sales, which will generate more revenue for both the store and the sales associate. This increase in revenue will ... ... middle of paper ... ... of these methods in a way that provides the most effective results. For example, TV advertising makes people aware of a health product item and press advertising provides more detail.
10) As a sales manager recogniz... ... middle of paper ... ...portant in retail and business to business. By creating relationships and making the sale more about the customer rather than the commission or otherwise you gain long term transactions that will pay much better dividends as you continually make sales with the same business or person.(pg. 56) Sales should be about making relationships and setting life time "brand" loyalty to you or your product or service Sales dialog would be used in the stimulus response and the consultative selling. During the stimulus response the consumer may need a boost to try your product or service, therefore you may need to give them a little coaxing to help the decision making process.(pg. 58) During the consultative selling you may need to give them a reason to continue and become a valued relationship customer.
So, furthermore, it is quite easy to enter and exit the market however, brand loyalty can influence how well your event planning does in the industry. Thus, consumers tend to look at the level of knowledge, expertise, and experience many event planning businesses entails in order to differentiate one from other competitors. Therefore, you tend to see that many consumers generally base their decisions and choices on if they have utilized the services previously, does the company have a great reputation, is the company known for exceptional services and events, and does other consumers speak highly about the business. All these factors contribute to how well a company excels over its competitors in the market. Moreover, these attributes and qualities brings forth and bridge brand loyalty among its consumers and potential consumers looking for quality services and companies within the event planning business and causes many event planning businesses to stand out and reign supreme over others.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer.