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A study on employee retention strategies preface
A study on employee retention strategies preface
A study on employee retention strategies preface
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Paul Berney - mCordis
LinkedIn: https://www.linkedin.com/in/paulberney
Website: http://www.mcordis.com
In his third year speaking at the GET SOCIAL conference, connective marketer, Paul Berney, spoke to us about the importance of connected marketing in today's business world. Berney is a connective marketer with mCordis.
According to mCordis, their aim is "to meet the clear need to fill the knowledge gap that exists around making a success of technology in the marketplace. On one side, we see marketers overwhelmed by the size, scope and pace of technological change and on the other side technology enabling companies struggling to get marketers to understand what they do. mCordis uses a combination of education and advisory services to bring
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Marketers must ensure that the product being sold is what the customer actually wants or desires. "It's not about what we want to sell, it's about what people want to buy". The focus is on market orientation rather than product orientation.
3. Remove barriers to entry
Recognise that nobody likes complexity so it is recommended to make it as easy as possible for customers to conduct their business. By including product personalisation, it allows the customer to fully engage with the product. “Make it as easy as possible to do business with you, because no one likes complexity”.
4. Be of service
When brain storming for product change and marketing strategies, think about how you could use the data you are collecting to help the customer.
Example: Amazon has installed 8 new personalisation options in the product search bar to improve speed of finding a product for the customer. Personalisation features include product department, colour, customer review, etc.
Personally, I find “connective marketing” a fascinating technique because it is so different to traditional methods of marketing. Companies and firms must be aware of and engage with this latest phenomenon if they wish to retain current customers and attract new ones to maintain and/or grow their profit margins. No business can afford to be left
Personalisation enables the service user to find the right way for them to participate in the delivery of their care. Therefore the service user receives support that is most suited to them.
The text states that marketing is both an art and a science where constant tension exists between the formulated and creative sides. At its essence, marketing is about "identifying and meeting human and social needs". It encompasses both a set of actions which seek to identify customers' needs as well as a social process of establishing a relationship with the customer to buy their products; this relationship is vital to the long term success for a company and a critical part of the marketing equation (Kotler & Keller, 2006).
Every company wants to understand why people decide to buy its products or others. Firstly, we have to understand why people buy certain kind of product. People buy products because they need them. A need is activated and felt when there is a sufficient discrepancy between a desired or preferred state of being and the actual state. (Engle£¬Blackwell and Miniard. 1995. p407 ) For example, when you feel hungry, what you needs is some food. It is very important for marketer to understand the needs of consumers. All the consumers may have the same needs, but the ways which they satisfy what they need are different. Here is a example, Chinese people would choose rice when they feel hungry, whilst British people may choose bread to satisfy their needs.
According to Amazon’s Financial and Strategic Analysis Review “All these features enhance the online shopping experience of its customers, resulting in
Market orientation is “an organisationwide commitment to researching and responding to customer needs” (Pride et al. 2007). The organisation will satisfy customers’ needs and wants by using their products, services and ideas (, 2007-2008). A market- oriented company is always focuses on customers’ needs. So, the relationship between market oriented company and customers’ will become closer and it is easier for the company to get the information from the customers (Jobber David 2007). Basically, the goal for a market-oriented company is to earn profit from the consumers’ satisfaction. They will achieve their goal by coordinated marketing and interfunctional activities (Lamb, Hair & McDaniel 2002). Market orientation can be shown as figure:
Content supports potential customers, replacing overt selling methods. In exchange for their time and attention, companies have the opportunity educate buyers about their products.
Marketing techniques continue to expand and reach new potential parallel with technological changes of the modern world. Emphasis on faster and larger data sharing networks provide open framework for vast possibilities in the field of marketing. Not only do companies have the ability to reach out to people all across the globe but it happens without hesitation due to more powerful, creative, and personal means of communication.
As seen above, it also includes search functionality where customers can search for the particular product that they want and further specify the exact requirements by choosing the customizations that are required. For example, when purchasing a dress, a customer can select the colour, dress size and the...
consumer buys a product, they must have a problem causing them to need or want your product. Next, the consumer will begin to research the brand they are looking for. Customers will evaluate all of their alternatives even if know which particular product they want. The purchase decision is where the profit is either made or lost. The customer will finally decide to buy something, therefore the marketers need to make sure they make this process is simple and easy so they do not lose the customer. Finally, after the customers buy a product they will evaluate the decision they have made to deicide whether or not they want to keep or return the product
Market orientation is one of the marketing strategies used by a company to attract consumers. Market orientation can be defined as the “focus of discovering and meeting the need and desires of its consumers through its product mix” : (Investopedia, 2010). Market orientation works in reverse as it attempts to tailor products to meet the demands of the customer (Investopedia, 2010). It can also be though as a coordinated mark...
Customization: The design of machine flexibility limited to just a product family thereby obtaining customized flexibility.
Personal selling offers not just a physical product, but also ideas, recommendations, technical assistance, experience, confidence and friendship to customers. Product specifications,
Relationship marketing is a specific approach in the discipline of marketing management which has the potential to improve its productivity and create the value for both the customer and also the company.
Raising awareness about the product a company has at hand is where business begins and it is a great teller of how successful the product will be in the competitive market. The art of communication has become a vital aspect and this is attributed to the fact that there are a wide variety of channels of communication that a company can employ. It is therefore advisable that as a company you be able to come up with a marketing strategy that will make your products stand out from the rest of the crowd. The company should be able to create a message that will be used in giving the product a position in the market. In the current world internet has changed the way business is being conducted and issues of targeting and segmentation are being handled differently (Milkman, 2008).
Before taking this course, marketing was all about product and the promotion of that product. I took a marketing course during my undergrad about 7 years ago that emphasized the 4 P’s. Building a strategy around promoting a product and/or service seemed to be the most fundamental concept of marketing to me. My narrow thinking soon changed after going into the workforce and after taking this course. Marketing is more than just telling potential and current consumers about your products and why they should buy it. Marketing truly encompasses all areas of business. A great marketing strategy needs to focus on all the new strategic marketing elements of positioning, product, logistics, price, integrated marketing communications, and service. It’s