Customer product needs
Customer definition: A customer is a person or business that buys goods or services from
another business. Customers are crucial because they generate revenue. Without them,
businesses would go out of business.
Product definition: A product is the item offered for sale. A product can be a service or an
item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is
sold at a price. The price that can be charged depends on the market, the quality, the marketing
and the segment that is targeted.
Marketing is the process of identifying customer needs and then introducing a product according
to those needs. Marketers introduce products in the market so that we can consume everyday.
When we buy a product we pay for marketing each time. Marketing acts as an important role in
our daily lives. Marketing is basically satisfying customer needs which increase the quality of life
and better standard of living. There are two main parties involved in marketing buyers and
sellers. Marketing includes the activities of a company associated with buying and selling a
product or service. In order to sell the products marketers try to promote their products by
different types of medium. The most famous type is bill boards and signs. The internet has been
the most easiest and effective way of promoting products to the customers. Magazines, T.V,
Radio and newspapers are other ways of introducing products. Marketing is all about selling,
delivering products to consumers, promotion of new products to attract customers.
There are many definitions of marketing. One of the great management thinkers Peter Drucker
said something which acts as a good reminder of the value of good marketing:
"The aim of marketing is to know and understand the customer so well; the product or service
fits him and sells itself." – Peter Drucker
Marketing Communication:
Marketing communication is subdivided into 4 features:
Advertising:
Advertising is transmitting information to the customers by various kinds of media by paying
sum amount of money. It is basically to attract the customers to buy the products.
In order words advertising is a publicity to influence the people to purchase the specific product.
Advertising media includes T.V, newspaper, cinema, radio, posters, billboards and internet. It
promotes the products and tries to convince the consumers to buy a product by pressure that it
is more desirable for them than others. Advertising can be done by the organizations, industries
as well as by individuals. Advertising can also be used combining with other marketing
communications.
The amount of advertising in UK can be recognized through posters, billboards and T.V. It has
been estimated that the drinks industry spends over £200 million on advertising and that
between 1 and 2 percentage of national income is spent on advertising in United Kingdom.
Sales promotion:
Sales promotions are the excellent offers to persuade the customers to buy go77ods and
services. Normally to increase in the sales of an organization for the short period and
sometimes to sold out the old stock. These are the tricks to trap the customer for the particular
product.
There are varieties of sales promotions methods to that a business can use to make products
appealing. Some of the methods are as under:
Discount vouchers:
Customers been sent the coupons, or they themselves tear off from the magazines and
newspapers which enables them to get the particular product in low price by showing the
coupon.
Competitions:
Sometimes when a customer purchase a product, allows them to enter the draw to win a prize
(for e.g. cash, cars, electronics, air tickets etc.)
Free Gifts:
Sometimes when the product is bought by the customers they get another product free with it or
sometimes different prizes instantly.
Loyalty cards:
These are those cards which allow the customers to earn points on the cards when they buy
products, later on which can be redeemed as cash or goods. (for e.g. Tesco club card, nectar
etc.)
Loyalty cards have become the most important bright form of sales promotion.
Public relations:
Public relation doesn’t deal with the product and services. It mainly deals in making good
relations between employees or customers. The primary function is to have the trust of public
understanding.
Examples of public relations are worker preparation, support of charitable events etc. In this
type of marketing communication the organization aimed for the increase in sales by improving
the image of the company and product.
Direct marketing:
Convey of advertising message directly to the consumer on individual basis through any type of
medium.
The main difference between direct marketing and other kind of promotion is that you have
close relation with the needs of the customer and succeed in delivering a message.
Integrated Marketing Communication:
The management of the organization is planned in such a way that all the feature of marketing
communication work together rather than allows them to work separately. As mentioned above
marketing communication includes sales promotion, advertising, direct marketing and public
relations.
Integrated marketing communication good idea for making business more profit. All the
marketing communication departments work together for the betterment and profitably of an
organization. The company use only one approach towards everything.
Integrated Marketing Communication is more than the management of a company's outgoing
message between different media and the reliability of the message throughout. It is a
destructive marketing plan that captures and uses a vast amount of customer information in
setting and tracking marketing strategy. It can be also defines as a holistic approach to promote
buying and selling of digital economy.
Sonali Subudhi
- TechNeutron
Nice information
ReplyDeleteUnique thinking
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