These studies will help businesses in the future to be able to form better relationships with their customers. This chapter goes on to talk about the idea of channels. A channel is the way that a message travels from the sender to the receiver. There are many different channels that can be used by businesses. The main way that channels are defined is by either being personal channels, which would be direct selling, where the business actually gets directly in touch with the customer, or non-personal channels, which would be mass television advertising, or radio ads.
INTRODUCTION Advertising in business is a type of marketing communication used to encourage, persuade, or manipulate a customer to take or continue to take some action. The desired result is to drive consumer behavior with respect to a commercial offering. The primary role of advertising is to inform potential customers of the products and services in the market and convince them to make a purchase. Through advertisements customers are informed of new products, their role, their benefit and the prices at which they are being made available to the customer. It is a technique used to influence people's minds and encourage more sales.
The future trends of CRM involve businesses creating a customer centric system where customers sculpture their relationships with businesses the manner in which they choose to do so (Peppers & Rogers, 2011). Within this customer ecosystem are multiple interconnections that fashion customer engagement and business development of products and services. Businesses aim to benefit financially while listening to their customers. Customers hope to benefit through incentives and promotions while engaging and communicating with business managers or staff. Such measures move businesses towards more collaborative relationships with their customers and with those within the organization.
Marketing This function of the business is responsible for identifying the needs of customers and fulfilling the customer desires profitably. In other businesses sales and marketing may be combined into one department but
A Marketing objective is the aim in which a company or marketing strategy want to achieve in order to be successful within their business or market. Not having a marketing objective, could cause disorganization and could let other rival companies obtain you clientele/consumers. A marketing objective is to, analyze the market, being innovative; creating and producing new products and ideas and staying ahead of other competitors. Most marketing objectives for businesses are ‘SMART’, specific- their objectives and goals should specifically show what they want to achieve, measurable- they should be able to measure whether they are meeting their objectives, achievable- they should be able to analyze whether these objectives are achievable/attainable, realistic- are the goals/objectives set that are realistically achievable and time- in what duration does the business wish to achieve their set objectives? The role functional areas play in supporting marketing activity.
Business events: Events are opportunities for business people to gain exposure for their businesses, promote new products or services and make sure accurate information reaches targeted customers. From a sales point of view, events are a chance to counter customer doubts and build customer confidence. They can also help us research our market and competitors, and build our mailing list. Making sure to the event prepared with marketing materials to disseminate and a way to collect information and customer details. Trade shows are an opportunity for businesses to compete in their industry and share information with people in similar lines of work.
Marketing Plan A marketing plan is an essential tool for any business in today’s competitive consumer market. Developing a marketing plan will aid a firm in thinking about what makes its business unique and how it will get the message out to desired consumers, using a variety of different channels. A marketing plan helps a firm focus on the Four P’s of marketing; price, product, promotion, and place. If the plan is well thought out, it will keep business owners and employees on track, as well as help to identify consumer needs. It will also help to evaluate those consumer needs and determine if the organization can meet or exceed expectations in order to turn the desired profits.
B2B organizations also wish to entice and sell to their audience; however, simplicity and efficiency could outweigh the flashing tool bars and bright colors often found on B2C websites. The B2B seller tries to differentiate itself from its competitive set by marketing the value of its goods or services to the target market as one that will save the buyer's companies a plethora of time and money. This is achieved by automating as much of their supply chain as possible. This may be accomplished through traditional offline methods of advertising, such as tradeshows and field sales along with websites that provide customer only access to their accounts and inventory. In addition, e-mail marketing and other communications using supply chain channels is effective.
A distribution medium is selected in order to enhance the reach to the place of the customer. The promotional strategy is designed and applied lastly so that it will further reach to the target audience. For this, a marketing strategy can be considered as the plan for contacting people and transforming them to become
Singh (2012) reported that “ Promotional activities are mainly intended to supplement personal selling, advertising and publicity. Promotion helps the trader and sales force to represent the product to the consumers in an effective manner and induce them to buy.” (p. 42). . Kotler and Armstrong (2014) also stated that promotion mix or marketing communications mix is the specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships. The five major promotion tools are classified as advertising, sales promotion, personal selling, public relations and direct marketing.