Strengths And Weaknesses In Marketing Strategies
By definition, relationship marketing is an approach that is used to sustain loyalty among a company’s customers. Relationship marketing has a host of advantages. First, relationship marketing helps a company yield massive returns on its investment (Wiersema 1983). Maintaining previous customers helps company reduce unnecessary advertisement costs since previous customers frequently repurchase company products. The company can thus focus on new customers to enter into their fold through a multiplicity of marketing strategy, but the old customers need not be enticed again.
Secondly, relationship marketing helps a company to receive great product and service reviews (Hanssens, Rust, & Srivastava 2009). New customers rely on positive reviews from existing customers to make the purchase decision. A company that maintains a good customer relationship management practice tends to receive good review, which boosts the company’s image and its products therein. Maintaining a relationship marketing practice offers the company an opportunity to gain constructive criticism from loyal customers. These
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Conduct an internal analysis to identify current strengths and weaknesses in a marketing strategy
Strengths
First, Samsung one of the most successful electronics company in the world. The company’s reputation in the production of LCD panels, television, smartphones, and fridges has put the company on the lead (Bryan 2015). Secondly, Samsung is the largest mobile distributer in the world. Samsung has an impressive R&D team coupled with strong marketing capabilities. Moreover, Samsung has an outstanding relationship marketing strategy, especially in Europe and the United States.
Weaknesses
Samsung’s rival, Apple offers incomparable products (Bryan 2015). New market entrants are slowly eating into Samsung’s market share. Samsung relies too much on consumer electronics. Samsung still relies on Android, which is perceived to be an inferior operating system when compared to
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