Making an integrated marketing plan
Marketers develop an integrated marketing plan which will deliver the value intended to customers. The marketing plans helps build relationships with customers by turning the strategy of marketing into action. It is comprised of the company’s marketing mix. The collection of tools for marketing that the company employs to implement the marketing plan.
The most important marketing mix tools are categorized into four broad categories. They are known as the 4 Ps of Marketing which are the product, price, location, and promotion. To fulfill its promise of value in the first place, the business must come up with a solution. That meets the needs of consumers (product). It should decide on the amount the company will be charging for its product (price). Also how it will make the product accessible to consumers of the target (place).
In addition, it must engage with customers it wants to reach about the product. Also convince the customers of its advantages (promotion). The company must combine every marketing mix tool into a complete integrated marketing strategy. That communicates and provides the desired value to selected customers.
Building Customer Relationships:
Customer relationship management is the most crucial concept in modern-day marketing. Some marketers define it as a management of customer data practice (a method referred to as CRM). According to this definition, it involves managing the detailed information of particular customers. Ensuring that they are well-managed customer “touchpoints” to maximize customer loyalty.
Many marketers, however, use the term customer relationship management a more broad definition. In this sense, it is the process of creating and maintaining profitable relationships with customers. By providing the highest level of customer satisfaction and value. It covers the entire process of acquiring, retaining, and growing the number of customers.
The most important factor in establishing lasting customer relations is to build high levels of satisfaction and value for customers. Satisfied customers are more likely to become loyal customers and provide the business with a greater part of its profits.
Retention and attraction of customers can be a challenge. Ten customers are face with an array of options and services available to pick from. Customers purchase from the company that provides the greatest value to the customer. Thus based on the customer’s assessment of the value difference. Between the advantages and the total cost of the product or service about other offerings. It is important to note that customers don’t evaluate values and prices accurately or objectively. They make decisions based on their perception of value. For some, the value may be a sensible product at reasonable costs, especially during the current recession. For other consumers, it could mean spending more for more.
The level of satisfaction of customers is determin by the perceived performance of the product concerning the buyer’s expectations. When the performance of an item is not in line with expectations, the buyer is unhappy. So, if the performance is above expectations customers are please. Excellent marketing firms will go to great lengths to ensure that customers are happy. Thus the majority of studies indicate an increase in satisfaction leads to higher customer loyalty. This improves the performance of the company.
Companies that are smart aim to please customers by stating what they can provide. And in turn, delivering more than they claim to deliver. Happy customers not only return to purchase. But become willing partners in marketing or customer evangelists. That who spread the word about their positive experiences to friends and colleagues. A company that is customer-centric aims to ensure that customers are satisfy in comparison to its competitors.