We can help developing, supervising and executing your Marketing Strategies, whether through dealing with your Marketing Department or through assigning persons from our company. Why we execute, or supervise for you? Because today’s economic realities have put a tremendous amount of pressure on the Marketing Departments to do more with less staff and budget. Marketing is the core of the company’s activities and strategies in today’s high competitive market. In the coming years, due to globalization, competition will boost, professional companies will achieve additional success and economical pressure will become very high.
Globalisation has a huge impact on marketing in many ways. Globalisation can force businesses to change their operations, perform to expectations, vary their marketing strategies or adopt a Global Marketing strategy. Businesses must adapt to these situations to succeed in the Global Market and establish themselves as a Global Brand. Marketing is a key, arguably the most important factor of a business. It is the range of activities that aim to identify, anticipate and shape customer demands and satisfy these demands in a way that furthers the businesses objectives (Moore,2011) It is crucial in the role that it generates funds, but it is also dependant on other business functions.
Products would start out as raw materials and then the process of extraction would begin, there are a number of channels that may need to exist before the consumer could pick the product off the shelf. The packaging and distribution are important factors in this process. This whole process is called the chain of derived demand, everything is pulled through as a result of the demand for the product. Businesses that operate within the business-to-business markets purchase the materials with the objective of adding value, so they can ultimately move the product down the chain until the finished product reaches the general consumer. Marketing is reliant on the profitable satisfaction of needs, and both markets depend on the principle of delivering the right product to the right people, and at a right price.
The theory of Distributional Channel proposes that the way an organization distributed its products affect the sales, the product choice, the marketing strategies hence the profitability of the organization (Bucklin, 1966). The Relationship marketing theory proposes that organizations should focus on customer satisfaction and retention rather than on sales transactions (Leonard, 1983). The AIDA theory by Lewis (1904) on the other hand illustrates the procedure with which the firm’s selling function could follow to enhance customer behavior hence their purchase decisions. These theories try to explain why organizations should invest more in selling to enhance their
Corporations continue to see customers as important assets and are increasingly devising ways and methods for estimating Customer Lifetime Value, which have been developed as a very important strategic marketing tool. The CLV Model has also been described in other management literature as ‘customer equity’ and ‘customer profitability’ which helps firms and corporations quantify customer relationships. Essentially, “customer profitability provides a metric for the allocation of marketing resources to customers and market segments.” The complex interaction of the level of individual needs, marketing activity, brand perception, the competitive environment, and the influence of new technologies are the results of customer behavior. These have changed customer behavior drastically and have rendered inadequate the current CLV model, which predicts customers purchase behaviors that are based on past spending patterns or demographic characteristics. Therefore, in order to apply the CLV model effectively to a complicated open mar... ... middle of paper ...
1. Sales managers are responsible for directing and leading the sales teams. By understanding the personal selling functions we will be an overall better sales force. Sales teams must be able to identify and relate to the roles of the business and sales functions at all times. By correctly managing your sales team you will boost profits and create a more profitable atmosphere.
The main objective of the companies is to obtain profits, however, we know that it involves many aspects such as the Customer Relationship Management (CRM), which is the topic that we will be explaining. According to the related literature, there are many definitions of it. Some authors and entrepreneurs call it as a philosophy, an application and they also use many other terms to identify the function of CRM. According to Barton J. Goldenberg, “providing a concise definition of CRM is challenging due to its continuing rapid evolution”. However, he began with a general overview of what is the CRM; the CRM is a business approach that integrates people, process, and technology to maximize relationship with customers (Goldenberg, 2008).
This is accomplished through market research, essentially using survey techniques, statistics, psychology and social understanding to help gather information on what consumers want and/or need, and then designing products, or services, to hopefully meet ... ... middle of paper ... ...rs per week. (Locke) Those entering the field must be able to work well under pressure and thrive off meeting deadlines and goals that are set. In some positions, substantial travel is not uncommon. In spite of the rigors associated with a career in marketing the outlook for the profession is bright. Marketing is a vital necessity not only for business firms, but is also needed and utilized by governments, educational, religious, social service, and nonprofit organizations or institutions.
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.
Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses. Marketing Defined The text states that marketing is both an art and a science where constant tension exists between the formulated and creative sides.