For any business that flourish and ultimately be profitable, a good marketing strategy should be employed. Each company or business organization carried out a series of activities in order to meet its goal of the main organization, the profit. Marketing is a process that starts from the beginning of the design of the product, just until the moment in which the consumer actually buys the product. As question in fact does not end when the consumer buys the product, customer service and relationship with the customer are also other forms of marketing well.
What is Marketing
Philip Kotler, the father of the modern marketing management, defines it as "the satisfaction of needs and desires" through a process of change. Another definition is "The management process responsible for identifying, anticipate and satisfy customer cost-effective".
It is clear from these definitions that the marketing has to be addressed to someone. It cannot be generic in nature, it is necessary to have a purpose. When a luxury car manufacturer develops its strategy that knows what the age group and income level of their customers are going to fall in. so is modified to adapt it to the needs and expectations of the target customer segment. Marketing revolves around a single person, the client, and go to any extreme to identify first what are the client's needs are, and then meet those needs.
Today's marketing strategies have become very focused on the customer, and this is very different from the old days. The reason for this is the large number of options and options that the client has today, along with the large amount of income available in their hands. This has greatly increased competition among the sellers, and the only way to attract customers is through effective marketing.
The marketing process
Marketing is a process that begins from the day on which a product is conceptualized. Characteristics, attributes and benefits of the product must be perfectly adapted to the needs and wishes of the customer, and this should be taken into account by the marketer. For this reason, larger companies spend so much money on research and development and constant innovation of its products. The key elements of a good marketing strategy are innovation and competitive advantage. Companies constantly striving to be better than its competitors in a constant supply of new products and innovative are those who enjoy most of the market share in its industry in particular.
Once the product has been developed and manufactured, customers need to be aware of the availability of the product. This is done on a large scale through advertising and direct sales. The use of different media such as Internet, television, radio, newspapers, magazines, newspapers, billboards, etc gives seller the platform for reaching a mass of people at the same time. Stressing the usefulness of the product and the novelty is the key element. Providing customers with different types of discounts, bonuses and free merchandise is also great to attract customers.
Once the product has been sold, the work of the seller is apparently more, since its task was to ensure that customer buys your product. This is as far away from reality as possible. The name of the game is customer retention, as rivals always looking to steal customers from any business. By focusing on customer satisfaction, a company that maintains its power on the client and this only can be achieved by good after sales service, quick-fix solutions complaint, informing about future offers and products and the overall management of relationships with clients (CRM). Before leaving to get more customers, it is important to build a solid foundation to retain and satisfy existing customers.
The four PS
The concept of the 4 PS of the marketing mix, is a timeless technique of the categorization of the various strategies. By keeping these 4 P in the mind of any seller can adopt and reap the benefits. Failure to this may result in a disaster and the failure of the organization.
Product: The most important thing is the product. It has to be useful, and innovative. There has to be a need for this specific type of product in the mind of the customer. Product engineering is focused on making the best products to satisfy the customer.
Price: The next most important thing is the price of the product. If a product is too expensive, customers may search and opt for cheaper alternatives. The quality of the product should be worth the price and vice versa.
Location: This refers to l
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