Conventional Marketing Case Study

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1) From transaction to relationship: Conventional marketing was based on customer behaviour. It aimed at influencing the customer’s choice which impacted its purchase decision. This decision was based on parameters like tangible and intangible benefits, product base or image base. Marketers used the 4 ps of marketing i.e. Product, price, place and promotion as the only means and tool to market and communicate regarding their product to the customers. Segmentation was another key feature of conventional marketing. Segmentation basically divides the market and groups them into groups of similar liking and expectation. Brands can be then categorized and presented to these segments to match their expectations. The business scenario is changing…show more content…
The new buzz word in the domain of marketing for an efficient brand management are sharing of requirements, shared loyalty and shared customer relationship management. Relationship marketing is an economically focused concept. The marketers responsibility is double from not only delivering a flawless product to its customers but to also ensure that all of their queries, complains, post purchase services, demonstration etc. are handled with great care. Because any lacunae in this process which damage the existing customers loyalty and force the buyer to look for alternatives. Also today’s customer is more aware and informed about the variety of options that they are exposed to. Even today customers are segmented but this segmentation is based on the value the customer brings for the company. Only profitable customers fall into this category. Internet revolution has helped the marketers to handle this situation more appropriately, as these web resources ease their job of finding out customer feedback, review, complains if any with regards to the product and immediate action can be taken to resolve the complains. Relationship marketing creates an emotional bonding between the brand and the customer wining their loyalty for quite some…show more content…
In this process the conditions of the consumption situation need to be taken into consideration. A product is always consumed in a context. The nature of this context affects the degree of satisfaction that the customer reports, through the notion of a ‘rewarding experience’. –Book Example: Food served in good atmosphere and ambience further adds to the taste and satisfaction derived from it, compared to food served in an unpleasant atmosphere. This example further clarifies that today customers want an experience not just a product. Another example that display experiential benefit is of, stores such as Nike town and the House of Ralph Lauren which are typical applications of this experiential concept. Schmitt (1999) has coined the term ‘experiential marketing’ to refer to ‘how to get customers to sense, feel, think, act and relate to your company and brands’. 3) Bonding through aspirational values Apart from delivering their main function and giving a great experience to their customer, it is necessary for brands to be ambitious. This is achievable through the intangible value of the brand that the customer derives after using

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