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Marketing extraordinaire and professor, Philip Kotler, and Kevin Keller (2011) defined marketing communications as 'the means by which firms attempt to inform, persuade, and remind consumers, directly or indirectly, about the products and brands they sell.'
Communication is a human activity allowing for the exchange of information. It allows for relationship-building, which has become increasingly important as a marketing tool. In previous years, marketing theories and communication theories upheld a functionalist approach that placed more importance and value on a company and its products. However, in recent years, companies have become increasingly aware that relationships with customers are their most valuable asset (Duncan & Moriarty, 1998). Gaining, retaining and pgrowing customer relationships is achieved through communication.
The communication process ensures successful communication. The process, shown in Figure 1., was developed by Shannon and Weaver (1948) and involves a sender, from whom the
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It is a tool used towards achieving hierarchical objectives of the company. Effective communication paves way for building brand loyalty and reinforcing service loyalty (Rafaeli, 1993), resulting in the growth of long-term relationships with customers (Sharma & Patterson,1999). In 2007, Woolworth's reported commitment to deepening and extending their customer relationships. Zyda Rylands (2016), CEO of Woolworth's South Africa, recently spoke of the company’s customer relationship management system, which enables better understanding of customer needs. Woolworth’s effective communication of its commitment to customers and exclusive brand-aligned retail experience offered through the Woolworth's WRewards card, saw an increase to their customer base to 3.1 million and 74 percent revenue. This was significant growth from 3 million customers and 71 percent revenue in
Having prior knowledge of a customers needs, habits, and questions before or during every interaction and transaction can boost customer satisfaction. (Zueschner, Raymond. (1997). Communicating Today. Boston: Allyn and Bacon.
As a Business Administration major I have learned there are several different components that make up a successful business, and it is important that everyone work together to achieve a common goal. The ultimate goal of most companies is to create a product or service that will gain a place in the market and stay there. Customer relationships are the most important factor for companies to consider when aiming toward success. What can companies do to improve customer relationships? Improving customer loyalty means the customer keeps coming back even if they are not always completely satisfied with the product. When I think about what brings customers back, and the most important part of a company’s success, it is undeniably customer relationship management. With it being easier for customers to shop from their home or office, and the growing competition making it easier to switch, the relationships become increasingly more important every day. Focusing more effort on customer retention and loyalty in customer relationships would improve their chances of surviving in the market.
Grönroos, C. (2004). The relationship marketing process: communication, interaction, dialogue, value. Journal of Business & Industrial marketing, Vol 19, Issue: 2, 99-113.
Communication is the first medium for dealing with the customers and is the most important one. Communication styles
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. 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.
As the customer is the subject of relationship marketing, marketing should emphasize on customer needs, while customer value may “one-dimensionally in term of need satisfaction” (Hackley, 2009, p.64). From the “one-dimension” concept, marketing can regard as an integrated process, which utilizes techniques to develop and produce products to meet customer requirement, including market analysis and market targeting (Arndt, 1980, p.390). For example, it is effective to use relationship management software to track and analyze costumers’ preference to attract and satisfy more customers in relationship marketing. However, the “one-dimension problems-solving discipline” just completes the part of selling in transactional marketing, it may also ignore the customer demand of which is not included in the target market. What’s more, relationship marketing not only focuses on the short-term commodity trading, but also long-term service quality and forward-looking strategies. The significance of relationship marketing is far more than the exchange, because the exchange will be of common occurrence once the mutual trust mechanism has been established. Moreover, marketing would not end at the completion of the transaction, but following a series of after-sale service and the stabilization of
Another definition of marketing is the "selling of products or services: the business activity of presenting products or services in such a way as to make them desirable" (MSN Encarta). However, according to (Kotler & Keller, 2006) the formal definition of "marketing is an organizational function and a set of processes for creating, communication, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its shareholders"(Kotler & Keller, p.4). According to these definitions, marketing needs to cover customers' necessities and at the same time sell products to increase future revenues. However, marketing is more extensive than just selling a product. Moreover, marketing activities are all activities associated with identifying the particular wants and needs of a target market of customers, and then going about satisfying those customers better than the competitors. This involves doing market research on customers, analyzing their needs, and then making strategic decisions about product design, pricing, promotion and distribution.
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” (AMA, 2007)
Communication is an interdependent process of sending, receiving, and understanding messages. The definition implies that the components of the communication process cannot be examined separately. Rather, the relationship exists between the sender and the receiver, as well as the environment of the communication event, must be viewed as a whole. According to this perspective, if any of the components and circumstances change (that is, the number of individuals involved in the interaction, seating arrangements, or the time of the day) the communication event is altered. Communication is an ongoing process; we never stop sending and receiving messages. As we will discover, communication is a dynamic process, a process that changes from one communication setting to the next. Although it is difficult to predict, the ways of interpreting communication, certain components are always present in the communication process.
Communication is the sharing of information between two or more persons or groups to reach a common understanding. In the communication, the information or ideas conveyed must be understood. Effective communication allows participants to properly exchange ideas. Communication is the two way process of exchanging information. Communication can be done through oral, verbal and written communication. Information is transmitted as words, tone of voice, and gestures and postures. Information can be shared face to face or by telephone, fax, e-mail, text messaging, videoconferencing, electronic-portfolios, chat, memos, letters, reports, etc. The number and types of methods increase as information technology systems become ever more involving a great deal of worldly experience and knowledge.
According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.
As it was mentioned before, an understanding of what customers need and want is the main aspect in marketing. This understanding comes with communication process between people. Firstly, it has to be mentioned what communication means. In general, communication is a means of connecting people or places. In business, it is a key function of management. An organization cannot operate without communication between levels, departments and
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
According to the Handbook of Media Management and Economics, marketing is “the art and science of satisfying consumer needs.” Marketing campaigns are strategic plans that will allow a company to push their consumer into buying their product. A good campaign will identify the consumer, their consumer’s needs and desires, and what the consumer needs to experience to convince them the product will fulfill that need or desire. T...
Customer Relationships is about building a relationship of trust and convenience. A customer wants the company they are working with to be intuitive. To know their needs before they do. They want to feel respected, they need to believe you are honest and have integrity. This relationship breeds comfort and familiarity and causes the consumer to continue to do business with your company. This relationship that is built develops a personal relationship, like a friendship and it is one that the consumer cannot get from the store down the road and it is that personal touch of sincerity, of knowing their needs, of servitude that will turn them into lifelong branded customers.