Total company effort includes a company offering superior customer value to attract customers, satisfy those customers, and retaining those customers. This will increase sales and build a profitable relationship with customers. Much like the marketing concept, the marketing strategy is vital to the marketing plan. The marketing strategy involves finding attractive opportunities and developing profitable marketing strategies (Perreault et al., 2014). A marketing strategy entail... ... middle of paper ... ...ct, place, promotion, price, customers, and target markets.
The role functional areas play in supporting marketing activity. Marketing Marketing determines what products or services are needed or maybe of interest to customers and how to make them available. Marketing responds to customer’s needs. Marketing make sure that the company builds good customer and clientele relationships. Some of the roles of the marketing department include; making sure the product has a target customer and the product fits in well with this, creating and promoting the product, making sure it has a strong brand and a well-built reputation and looking into new markets seeing if there is a niche that they could develop.
Analysis of Marketing Strategies Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
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.
According to Hall (2008), communication mix is a term used to depict the arrangement of tool where a business can use to convey and communicate successfully the advantages of its good or services to its client. It is crucial for a company to fulfil what customer need and wants in order to get and exceed customer expectation. Thus, company need to choose a suitable platform of marketing in order to boost up the sales and profits. There are several characteristic of marketing and factor that organization must select and consider in order to decide best communication mix in marketing. The organization can select whether they want do advertising, sales promotion, public relations and publicity, personal selling also considering the type of product
INTRODUCTION Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action. Content Marketing means creating and sharing valuable free content to attract and convert prospects into customers, and customers into repeat buyers. The type of content you share is closely related to what you sell; in other words, you’re educating people so that they know, like, and trust you enough to do business with you. Content marketing’s purpose is to attract and retain customers by consistently creating and curating relevant and valuable content with the intention of changing or enhancing consumer behavior.
A segment profile comes down to describing customer characteristics of a typical customer. It is important to build profitable relationships with the right customer is good for the marketer’s stakeholders. After this, the brand can start to build up their company target market, as well as selecting merchandise that would be best for the store. What positioning strategy do you think would be advantageous? Support your answer.
Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory of Cadbury in terms of the customer-based brand equity (CBBE) model. Customer- Based Brand Equity (CBBE) Model Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms.
Promotion-mix is a set of promotional tools that are available to the company. The promotion Mix includes: • advertising • personal sales • sales promotion • Public relations and publicity Since personal selling is referred as personal interaction or individual communication for selling the product between the customer and sales personnel. It is a significant element of a promotion mix which can be used as an effective promotional tool for Plastic Products Ltd, which helps persuading increased prospects towards purchasing a good or service. The sales force promotes the product aiming at informing and delivering the product knowledge, as well as encouraging the customer towards making a purchase or trying it. Personal selling also can strengthen relationship with the customer.
It is a technique used to influence people's minds and encourage more sales. The main purpose of advertising is to deliver the proper message to customers and prospective customers. The purpose of advertising is to convince customers that a company's services or products are the best, to enhance the image of the company, point out and create a need for their products or services, demonstrate new uses for the established ones, announce new products and programs, reinforce the individual messages of the sales people, draw customers to the business, and to hold existing customers. Advertising lies in the Promotion part of Marketing Mix, but it applies to all the other P's as well. Promoting one’s business is the key ingredient to making one’s business successful.