Service recovery plays an important role in nowadays relationship marketing. Today, many organizations are facing challenges in the area of customer service and service delivery. It has been found that as the cost of attracting a new customer is more expensive than retaining an existing customer, therefore, organizations are striving to build long-term relationship with existing customers. This approach helps the organizations to keep their existing customers higher the loyalty level towards their businesses and also benefit the customers in enjoying a high level of customer service which is provided by the organizations. What is Service Recovery? Service failure happens all the time when organizations provide services to the customers. Although a zero defect product and well-trained service delivery can result in a negative service conflict because of the heterogeneity of customer’s outcome and process expectations. These unavoidable mistakes affect the goal of securing customer base. For customers, service failure Continue reading
Marketing Management
Marketing management combines the fields of marketing and management. Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas – markets, products, prices, places, promotion, and people. Management is getting things done through other people. Managers engage in five key activities – planning, organizing, staffing, directing, and controlling. Marketing management implies the integration of these concepts.
The Impact of E-Marketing on Businesses
The development of e-marketing has been one of the most important and influential trends in the field of business, marketing and Information Technology offer the past decade. It has revolutionized the manner in which certain businesses market their products and the advent of social media offers the potential to revolutionize the manner in which businesses and consumers interact in the future. E-marketing is a general term used to denote a wide array of different Internet-related activities. These include website building and promotion, consumer communications, e-mail marketing and newsgroup advertising. However, the term e-marketing has developed enormously over the past decade and today it encompasses a far wider range of activities and one of the most important of these is the use of social media in order to advertise online. So, e-marketing is the strategic process of creating, distributing, promoting and pricing products for targeted customers in the virtual environment of Continue reading
Does Marketing of Brand Help?
Does Marketing of Brand Help? We take guidance from the definition of brand as a promise of value that is… Unique Relevant Sustainable These three dimensions of all brands point the way for marketers to create value inside any organization. Regardless of its role and expectations, marketing will win respect when it is recognized as a contributor of value that is unique (not generated by any other area, department or function), relevant (supporting results for the organization) and sustainable (ongoing and lasting). 1. Unique Value The unique value of marketing is its focus on customers. More than any other function, marketing leads the way for the organization to understand, attract and keep customers. While by no means an exclusive domain, marketing is uniquely absorbed with this external focus in holistic terms. Marketing’s contribution to the organization is to lead the way in customer focus by bringing the customer perspective inside Continue reading
The Social and Cultural Environment in Marketing
The socio-cultural environment is made up of institutions and other forces that affect a society’s basic values, perceptions, preferences, and behaviors. Socio-cultural forces usually influence the welfare of a business firm in the long-run. With ever changing society the New demands are created and old ones are lost in due course. Thus necessary adjustments are to made in the marketing plan to meet the need need/wants of the target market. The socio-cultural factors that contribute to a change are; Demographics Cultural Influences Environmental issues Animal Welfare Social influences Social and cultural factors influence all aspects of consumer and buyer behavior. The difference between these factors in different parts of the world can be a central consideration in developing and implanting international marketing strategies. Social and cultural forces are often linked together whilst meaningful distinctions between social and cultural factors can be made in many ways by the way the Continue reading
Characteristics of a Good Advertisement Copy
The success of advertisement depends very much upon the copy of advertisement. The main aim of the advertisement is to attract the customer and create an urge to possess that product. If the advertisement does not fulfill this objective, the expensive advertisements are useless. Hence, the advertisement copy should be drafted very carefully. The person who drafts the advertisement copy must be thoroughly acquainted with the mental process. He should be imaginative enough to think of words and patterns which would produce the desired effect on the prospective customer. An effective copy of advertisement should posses the following characteristics, qualities or values: Attention Value: An Advertisement copy must attract the attention of the potential consumers. If it fails in this mission, the money and efforts go waste, for everything else follows this. The copy should be drafted, planned and displayed so ingeniously that it may compel even the most casual Continue reading
Service Organizations
An organization providing intangible services rather than tangible goods is termed as Service organization. In the standard industrial classification, service organizations include hotels, restaurants and other lodging and eating establishments, barber shops, beauty parlors and other personal services, repair services, motion picture, television and other amusement and recreational services, legal services and accounting, engineering, research/development, architecture and other professional organization. Service organizations also includes educational organizations, banks, insurance companies and other financial institutions. Also government agencies and most other non-profit organizations are service organizations. Characteristics of Service Organizations Quantity Measurement: It is easy to keep track of the quantity of tangible goods, both during the production process and when the goods are sold, but it is not easy to measure the quantity of many services. We can measure the number of patients that a physician treats in a day, for example, and even classify these visits by type of complaint, Continue reading