While targeting different sectors of the market through marketing research will create value it will also enhance the product and make it more marketable. The imperative factor through all of this is ensuring that whoever the segmented market is, these customers are pleased and only then the company will have a competitive
So marketing is important because it is the key to success in the business. Through marketing we may store data, gathered information and analyzed the information to know customer needs and wants, to analyzed customer behavior, to know what’s on the heart of their markets. Through marketing we may select the target market, positioning the product in efficient and effective process. Marketing predict the prospect customer, potential buyer, future trends. Through marketing
This is to enable customers to recognize what the seller sells. For example, the company (Tesco) works hard in terms of packaging so it can attract users to buy it. Not only that, promotion also plays a role. When good quality, reliable items and strong brand image can lead to excellent value. Users will not hesitate to buy them.
This incident highlights there is a relationship between customer-centric marketing with revenue generation. There is a positive correlation highlighted from the time for advancement of customer centric marketing and return investment. Sheth, Sisiodia and Sharma (2000) also stated customer-centric marketing enhances productivity by focusing on profitable customers and reducing the subsidization of unprofitable customers. This is, as firms will not have to markdown their products in order to increase their number of
It might also help to identify whole new markets that you can successfully target. The purpose of any marketing strategy should be to identify the benefits of your business, and offer those benefits later on to your target market/audience. Also is good to mention that every time you speak to someone about your business you are involved in marketing. Even a conversation about your company is a good opportunity to promotion which can increase the sales. Last but not least, the marketing strategy will help you to be focused.
When a brand has loyal customers, it gains positive word-of-mouth marketing, which is both free and highly effective. Therefore, it is essential for businesses to effectively manage customer satisfaction. To be able do this, firms need reliable and representative measures of satisfaction. In researching satisfaction, firms generally ask customers whether their product or service has met or exceeded expectations. Thus, expectations are a key factor behind satisfaction.
Research is practical in investigating prospective customer demand and in developing products that top match preferred benefits. This benefits businesses once they have paid for advertising and utilize other promotional techniques to support brand and its benefits. These selling techniques are significant in achieving competitive advantages above other competitors trying to optimize presentation as consumers make choices based on their wants and
products, brand image is of high importance as the consumers generally tend to prefer products manufactured or marketed by a brand that they are familiar with. Brand names are a source of differentiation. Brand image propels the consumers to consume more value on the specific brand having an established image in the market. A reliable brand image helps foster long term relationships between the product and end users. It is productive way to make better brand personality in the market for the purpose to increases the sale of the product.
These are advertising, publicity, sales promotion, personal selling and packaging. These are serving the different objectives. Sales promotion is one of them and gives a great influence on customer buying behavior to increase sales in short term. It contributes to counterbalance the competition effect. To achieve the objective a strategy is needed for effective application of sales promotion.
The benefits such as enabling organizations to decrease the costs, increase profits and give more trust of their customers. The good CRM strategy when it enables to describe in a straightforward, practical and clear way. CRM is mainly a business strategy that used by the companies to more attract and maintain customers for the maximization of profit of the organization. A good CRM solution which it