Nowadays companies are required to take care of long term and overall interests of customers. As a number of social issues like the global environmental issues, the exhaustion of natural resources, and the infinitely increasing numbers of population have appeared companies’ effort for long-term interests of customer increases demands for social benefits. A number of health and social issues are concerned with behavior causes that are the result of voluntary behavior. The production and operation should take the long-term benefits of society into account as a whole as well as the interest of consumers which is the common ground of the social marketing concept. The corporations have to find out what target groups want and need and derive maximum satisfaction from customers while they enhance and maintain welfares in the community. The main concept of social marketing is providing a way of dealing with such problems by changing the behavior Continue reading
Modern Marketing Concepts
Customer Journey Mapping
Every time a customer contacts the organization or its representatives, there is an opportunity for a customer “moment of truth”. These “moments of truth” are opportunities for the organization to make a good or bad impression on the customer and are key moments in the customer journey. This concept of ‘moment of truth’ was first introduced by Jan Carlzon, the former president of Scandinavian Airlines, in his 1986 book titled Moments of Truth. Carlzon defines the moment of truth in business as: “Anytime a customer comes into contact with any aspect of a business, how ever remote, is an opportunity to form an impression.” Customer journey mapping builds on this concept by providing a strategic tool to start the process of ensuring that every interaction with your organization is a positive one. Customer journey mapping is a tool organizations use to help them see what their customers truly want — Continue reading
Ambush Marketing – Meaning, Working and Methods
Ambush marketing is a fairly new concept in marketing, where research into the subject has become an area of considerable interest over the past twenty years, as increasing amounts of companies opt to take up this revolutionary marketing activity. Although much has been written about “ambush” marketing, considerable ambiguity surrounds this term and its status. From the earliest definitions of ambush marketing as a derogatory term involving ‘unauthorized’ practices, has emerged not only an acknowledgement of the considerable vagueness that surrounds the concept but also a conceptual framework of ambush marketing that more accurately reflects the balancing of sponsors contractual rights against the rights of non-sponsors to maintain a market presence during an event through legal and competitive business activities, although it has been cast as an “amorphous concept” along with being branded as a somewhat devious, unethical tactic, and an unfair marketing practice. Despite this ambush marketing has recognized Continue reading
Literature Review – Social Media Marketing Strategies
Social Media Coming to Age in Business Social media has a long history when compared to what people know nowadays. Facebook and other social media platforms exist as a natural outcome of the evolution of the social media development that has occurred for several centuries. It is evident that letters served as the earliest communication methods. They were delivered by hand from the sender to the recipient. When it comes to analyzing the history of social media, one may see that the earliest postal services existed as early as 550 B.C (Hakansson, 2015). Despite the development, the messages became short (Parveen, Jaafar, & Ainin, 2015). The business industry also continued to grow due to friendly economic policies and various incentives that existed in the market. The development of supercomputers after the 1940s saw the creation of networks between computers and consumers. The situation influenced the development of the internet. The Continue reading
Marketing Orientation Approach to Business
There are three types of business orientation which are production, sales and marketing orientations. They usually develop in stages orderly and in hierarchy. Production orientation is the primary purpose business in the nineteenth centuries. It refers to the firms which concentrate on improving the efficiency of the production in order to break down cost. Firms produce goods which they could produce well. Sales orientation is a concept that demand has to be created by using sales techniques. The sales department was interpreted to be most important to organization’s successful and survival. Scant attention was paid to the final consumer’s need, but it was understood that goods and services did not sell themselves without effort. Finally marketing orientation is an approach which most firms use nowadays. It focuses on consumer needs. This shift in thinking led to the growth of marketing research to decide unmet consumer needs and systems for pleasing Continue reading
Customer Centric and Market Driven Approaches to Marketing
With the increasing pace of commercialization of economy, international and domestic market environment has changed dramatically-the termination of seller’s market and shortage economy, the arrival of buyer’s market and surplus economy. Consumers have become the leading role within transaction relationship. Companies must spare no efforts to please consumers, provide consumers with satisfactory products. Nowadays, concerning corporate marketing concept, there are customer centric and market driven. Customer centric refers that the enterprise takes the fulfillment of customer demands and the increase of customer value as business starting point. It stressed that the organization should avoid separating the actual demand from customers and subjective assumptions of the market. A customer-centric approach can add value to a company by differentiating themselves from competitors who do not offer the same experience. In essence, customer centric means the modern marketing concept that build a long-term and stable business relationship through provide customers more value and Continue reading